Abbott Laboratories (NYSE:ABT) updated its second quarter 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.79-0.81 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.80. Abbott Laboratories also updated its FY 2019 guidance to $3.15-3.25 EPS.
A number of equities analysts recently commented on the company. Royal Bank of Canada lifted their price objective on Abbott Laboratories to $82.00 and gave the stock a buy rating in a research report on Monday. They noted that the move was a valuation call. Barclays set a $84.00 price objective on Abbott Laboratories and gave the stock a buy rating in a research report on Friday, March 8th. Argus lifted their price objective on Abbott Laboratories to $90.00 and gave the stock an in-line rating in a research report on Friday, January 25th. They noted that the move was a valuation call. BTIG Research reiterated a hold rating on shares of Abbott Laboratories in a research report on Thursday, January 24th. Finally, Gabelli reiterated a buy rating on shares of Abbott Laboratories in a research report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company. Abbott Laboratories has a consensus rating of Buy and a consensus price target of $80.48.
ABT stock opened at $76.38 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The firm has a market cap of $136.13 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13. Abbott Laboratories has a 52-week low of $56.81 and a 52-week high of $80.74.
Abbott Laboratories (NYSE:ABT) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $7.82 billion. Abbott Laboratories had a return on equity of 16.55% and a net margin of 7.74%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. As a group, equities research analysts anticipate that Abbott Laboratories will post 3.2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, April 12th. This represents a $1.28 annualized dividend and a yield of 1.68%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.
In other news, insider Jaime Contreras sold 177,457 shares of Abbott Laboratories stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $70.00, for a total value of $12,421,990.00. Following the completion of the sale, the insider now directly owns 100,985 shares of the company’s stock, valued at $7,068,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph J. Manning sold 5,613 shares of Abbott Laboratories stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $79.58, for a total value of $446,682.54. Following the completion of the sale, the insider now directly owns 56,029 shares of the company’s stock, valued at $4,458,787.82. The disclosure for this sale can be found here. In the last three months, insiders have sold 280,021 shares of company stock valued at $20,485,856. 0.70% of the stock is owned by insiders.
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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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