Abbott Laboratories (ABT) Issues Q2 2019 Earnings Guidance

Abbott Laboratories (NYSE:ABT) issued an update on its second quarter 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.79-0.81 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.80. Abbott Laboratories also updated its FY 2019 guidance to $3.15-3.25 EPS.

Shares of ABT stock opened at $76.38 on Wednesday. The stock has a market cap of $136.13 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 2.08 and a beta of 1.13. Abbott Laboratories has a 1 year low of $56.81 and a 1 year high of $80.74. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.20 and a current ratio of 1.62.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. The company had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.82 billion. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 earnings per share. Analysts predict that Abbott Laboratories will post 3.2 earnings per share for the current year.

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 issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is 44.44%.

ABT has been the topic of a number of research reports. Citigroup lowered Abbott Laboratories from a neutral rating to a sell rating and lowered their price target for the stock from $72.00 to $68.00 in a report on Wednesday, January 2nd. Morgan Stanley lifted their price target on shares of Abbott Laboratories from $82.00 to $85.00 and gave the company an overweight rating in a research report on Wednesday, January 2nd. Gabelli reiterated a buy rating on shares of Abbott Laboratories in a research report on Wednesday, January 2nd. BTIG Research reiterated a hold rating on shares of Abbott Laboratories in a research report on Thursday, January 24th. Finally, Argus lifted their price target on shares of Abbott Laboratories to $90.00 and gave the company an in-line rating in a research report on Friday, January 25th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $80.48.

In other news, insider Joseph J. Manning sold 1,223 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $78.00, for a total transaction of $95,394.00. Following the completion of the sale, the insider now directly owns 61,324 shares of the company’s stock, valued at approximately $4,783,272. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian B. Yoor sold 2,246 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $78.00, for a total transaction of $175,188.00. Following the sale, the chief financial officer now directly owns 116,627 shares of the company’s stock, valued at $9,096,906. The disclosure for this sale can be found here. Insiders have sold a total of 280,021 shares of company stock valued at $20,485,856 over the last three months. Corporate insiders own 0.70% of the company’s stock.

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About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Earnings History and Estimates for Abbott Laboratories (NYSE:ABT)

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