Abbott Laboratories Forecasted to Post FY2019 Earnings of $3.25 Per Share (NYSE:ABT)

Abbott Laboratories (NYSE:ABT) – Stock analysts at Svb Leerink raised their FY2019 earnings per share (EPS) estimates for shares of Abbott Laboratories in a note issued to investors on Wednesday, July 17th. Svb Leerink analyst D. Antalffy now forecasts that the healthcare product maker will post earnings per share of $3.25 for the year, up from their prior forecast of $3.20. Svb Leerink also issued estimates for Abbott Laboratories’ Q4 2019 earnings at $0.96 EPS, Q1 2020 earnings at $0.72 EPS, Q2 2020 earnings at $0.90 EPS and FY2020 earnings at $3.65 EPS.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.02. Abbott Laboratories had a return on equity of 17.39% and a net margin of 9.36%. The company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year.

A number of other analysts have also recently weighed in on ABT. Zacks Investment Research cut Home Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, June 7th. Jefferies Financial Group lowered Alcoa from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $29.00 to $23.00 in a research note on Thursday. Morgan Stanley dropped their price objective on Neon Therapeutics from $19.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Bank of America set a $10.00 price objective on HEXO and gave the stock a “buy” rating in a research note on Thursday, June 13th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Medidata Solutions in a research note on Thursday, June 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $85.82.

Shares of NYSE:ABT opened at $87.49 on Friday. Abbott Laboratories has a fifty-two week low of $62.87 and a fifty-two week high of $88.32. The business has a 50-day moving average of $82.95. The firm has a market capitalization of $154.35 billion, a PE ratio of 30.38, a P/E/G ratio of 2.45 and a beta of 1.10. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.61.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Abbott Laboratories by 3.3% in the 4th quarter. BlackRock Inc. now owns 121,045,590 shares of the healthcare product maker’s stock valued at $8,755,228,000 after purchasing an additional 3,842,101 shares during the period. Northern Trust Corp grew its stake in shares of Abbott Laboratories by 2.7% in the 4th quarter. Northern Trust Corp now owns 26,603,904 shares of the healthcare product maker’s stock valued at $1,924,260,000 after purchasing an additional 708,691 shares during the period. FMR LLC grew its stake in shares of Abbott Laboratories by 0.3% in the 1st quarter. FMR LLC now owns 23,827,545 shares of the healthcare product maker’s stock valued at $1,904,774,000 after purchasing an additional 65,260 shares during the period. Geode Capital Management LLC grew its stake in shares of Abbott Laboratories by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 22,133,985 shares of the healthcare product maker’s stock valued at $1,598,270,000 after purchasing an additional 1,778,840 shares during the period. Finally, Norges Bank bought a new stake in shares of Abbott Laboratories in the 4th quarter valued at approximately $1,239,454,000. Institutional investors own 73.38% of the company’s stock.

In related news, SVP Jaime Contreras sold 918 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $73.12, for a total transaction of $67,124.16. Following the transaction, the senior vice president now directly owns 34,706 shares in the company, valued at $2,537,702.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Randel William Woodgrift purchased 2,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were purchased at an average price of $73.40 per share, for a total transaction of $146,800.00. Following the completion of the purchase, the insider now directly owns 52,562 shares of the company’s stock, valued at $3,858,050.80. The disclosure for this purchase can be found here. Insiders have sold 1,199,910 shares of company stock worth $93,837,075 over the last 90 days. Corporate insiders own 0.70% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.28 annualized dividend and a yield of 1.46%. Abbott Laboratories’s dividend payout ratio is 44.44%.

Abbott Laboratories Company Profile

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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