Q2 2024 Earnings Estimate for Abbott Laboratories Issued By William Blair (NYSE:ABT)

Abbott Laboratories (NYSE:ABT) – Equities researchers at William Blair reduced their Q2 2024 earnings per share estimates for shares of Abbott Laboratories in a note issued to investors on Friday, April 19th. William Blair analyst M. Kaczor now expects that the healthcare product maker will post earnings of $1.10 per share for the quarter, down from their previous forecast of $1.12. The consensus estimate for Abbott Laboratories’ current full-year earnings is $4.62 per share. William Blair also issued estimates for Abbott Laboratories’ Q1 2025 earnings at $1.13 EPS, Q2 2025 earnings at $1.28 EPS, Q3 2025 earnings at $1.32 EPS, Q4 2025 earnings at $1.42 EPS and FY2025 earnings at $5.15 EPS.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The firm had revenue of $9.96 billion for the quarter, compared to the consensus estimate of $9.88 billion. During the same period in the previous year, the business earned $1.03 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis.

A number of other analysts have also recently commented on the company. Evercore ISI lifted their price target on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Raymond James reissued a “buy” rating and issued a $124.00 price objective on shares of Abbott Laboratories in a report on Wednesday. Barclays decreased their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a report on Monday. Royal Bank of Canada decreased their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 18th. Finally, Citigroup upped their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Abbott Laboratories currently has an average rating of “Moderate Buy” and an average target price of $121.50.

Abbott Laboratories Stock Performance

Shares of ABT opened at $107.57 on Monday. The stock has a 50-day moving average of $114.00 and a two-hundred day moving average of $107.97. Abbott Laboratories has a one year low of $89.67 and a one year high of $121.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64. The stock has a market cap of $186.65 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.58 and a beta of 0.74.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a yield of 2.05%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 68.54%.

Insiders Place Their Bets

In other news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the sale, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $114,115.50. Following the completion of the sale, the executive vice president now directly owns 125,697 shares in the company, valued at $14,895,094.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The disclosure for this sale can be found here. In the last three months, insiders sold 56,435 shares of company stock worth $6,451,298. Corporate insiders own 0.47% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Abbott Laboratories by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 156,467,081 shares of the healthcare product maker’s stock worth $17,222,332,000 after acquiring an additional 701,740 shares during the period. Capital Research Global Investors grew its position in Abbott Laboratories by 9.5% in the fourth quarter. Capital Research Global Investors now owns 86,588,614 shares of the healthcare product maker’s stock worth $9,530,825,000 after acquiring an additional 7,527,778 shares during the period. Capital International Investors grew its position in Abbott Laboratories by 2.3% in the fourth quarter. Capital International Investors now owns 64,294,784 shares of the healthcare product maker’s stock worth $7,077,148,000 after acquiring an additional 1,457,847 shares during the period. Wellington Management Group LLP grew its position in Abbott Laboratories by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 32,236,101 shares of the healthcare product maker’s stock worth $3,548,228,000 after acquiring an additional 1,027,390 shares during the period. Finally, Northern Trust Corp grew its position in Abbott Laboratories by 1.5% in the third quarter. Northern Trust Corp now owns 23,016,235 shares of the healthcare product maker’s stock worth $2,229,122,000 after acquiring an additional 343,559 shares during the period. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.