Q2 2017 EPS Estimates for Abbott Laboratories Lifted by William Blair (ABT)
Abbott Laboratories (NYSE:ABT) – Stock analysts at William Blair raised their Q2 2017 earnings estimates for shares of Abbott Laboratories in a research report issued to clients and investors on Monday. William Blair analyst M. Kaczor now forecasts that the brokerage will post earnings of $0.62 per share for the quarter, up from their prior estimate of $0.61. William Blair also issued estimates for Abbott Laboratories’ Q4 2017 earnings at $0.69 EPS.
ABT has been the subject of several other reports. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Tuesday, July 5th. Jefferies Group reduced their target price on Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating for the company in a report on Tuesday, September 13th. Bank of America Corp. restated a “buy” rating on shares of Abbott Laboratories in a report on Monday. TheStreet upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Monday, August 22nd. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Abbott Laboratories in a report on Wednesday, June 8th. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $47.02.
Abbott Laboratories (NYSE:ABT) remained flat at $41.68 on Tuesday. 2,800,688 shares of the stock were exchanged. The firm’s 50-day moving average price is $43.36 and its 200 day moving average price is $41.15. Abbott Laboratories has a 12 month low of $36.00 and a 12 month high of $46.38. The company has a market capitalization of $61.27 billion, a PE ratio of 27.51 and a beta of 0.82.
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Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.02. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.24 billion. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS.
Several institutional investors have recently modified their holdings of ABT. Nordea Investment Management AB boosted its position in Abbott Laboratories by 13.5% in the second quarter. Nordea Investment Management AB now owns 3,529,762 shares of the healthcare product maker’s stock valued at $138,755,000 after buying an additional 420,435 shares in the last quarter. National Pension Service boosted its position in Abbott Laboratories by 4.2% in the first quarter. National Pension Service now owns 766,747 shares of the healthcare product maker’s stock valued at $32,073,000 after buying an additional 30,857 shares in the last quarter. MAI Capital Management boosted its position in Abbott Laboratories by 2.5% in the second quarter. MAI Capital Management now owns 328,683 shares of the healthcare product maker’s stock valued at $12,921,000 after buying an additional 8,170 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Abbott Laboratories by 41.0% in the first quarter. Panagora Asset Management Inc. now owns 1,536,883 shares of the healthcare product maker’s stock valued at $64,288,000 after buying an additional 446,670 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its position in Abbott Laboratories by 10.3% in the first quarter. First Republic Investment Management Inc. now owns 948,975 shares of the healthcare product maker’s stock valued at $39,695,000 after buying an additional 88,798 shares in the last quarter. 73.12% of the stock is currently owned by institutional investors and hedge funds.
In other Abbott Laboratories news, VP Robert E. Funck sold 26,800 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $43.08, for a total value of $1,154,544.00. Following the transaction, the vice president now owns 111,819 shares of the company’s stock, valued at $4,817,162.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephen R. Fussell sold 41,500 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $45.00, for a total value of $1,867,500.00. Following the transaction, the insider now directly owns 196,467 shares in the company, valued at approximately $8,841,015. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 68.87%.
Abbott Laboratories Company Profile
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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