Abbott Laboratories (NYSE:ABT) issued its quarterly earnings data on Wednesday. The healthcare product maker reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.02, RTT News reports. The firm had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8 billion. Abbott Laboratories had a net margin of 9.36% and a return on equity of 17.39%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share.
Shares of Abbott Laboratories stock opened at $87.49 on Friday. The business has a fifty day moving average of $82.95. The firm has a market capitalization of $154.35 billion, a P/E ratio of 30.38, a price-to-earnings-growth ratio of 2.45 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.58. Abbott Laboratories has a 1 year low of $62.87 and a 1 year high of $88.32.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.28 annualized dividend and a dividend yield of 1.46%. Abbott Laboratories’s payout ratio is 44.44%.
ABT has been the topic of several recent research reports. Royal Bank of Canada raised their price objective on shares of Alimentation Couche-Tard from C$85.00 to C$88.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Bank of America set a $10.00 price objective on shares of HEXO and gave the company a “buy” rating in a research report on Thursday, June 13th. Cowen reaffirmed a “buy” rating and set a $184.00 price objective on shares of Union Pacific in a research report on Thursday. Wells Fargo & Co reaffirmed a “hold” rating on shares of Medidata Solutions in a research report on Thursday, June 13th. Finally, Raymond James cut their price objective on shares of SM Energy from $20.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $85.82.
In other Abbott Laboratories news, insider Brian J. Blaser sold 450,062 shares of Abbott Laboratories stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total transaction of $33,988,682.24. Following the sale, the insider now owns 295,745 shares in the company, valued at $22,334,662.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jaime Contreras sold 918 shares of Abbott Laboratories stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $73.12, for a total transaction of $67,124.16. Following the sale, the senior vice president now owns 34,706 shares in the company, valued at approximately $2,537,702.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,199,910 shares of company stock worth $93,837,075. 0.70% of the stock is currently owned by corporate insiders.
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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