FY2018 Earnings Estimate for Abbott Laboratories (ABT) Issued By Gabelli
Abbott Laboratories (NYSE:ABT) – Equities researchers at Gabelli increased their FY2018 earnings per share estimates for shares of Abbott Laboratories in a report released on Friday. Gabelli analyst J. Tsai now forecasts that the healthcare product maker will earn $2.75 per share for the year, up from their prior estimate of $2.70. Gabelli also issued estimates for Abbott Laboratories’ FY2019 earnings at $3.05 EPS, FY2020 earnings at $3.40 EPS and FY2021 earnings at $3.75 EPS.
A number of other brokerages also recently weighed in on ABT. UBS AG reiterated a “neutral” rating and issued a $41.00 target price on shares of Abbott Laboratories in a report on Tuesday, April 18th. BMO Capital Markets reiterated a “hold” rating and issued a $48.00 target price on shares of Abbott Laboratories in a report on Tuesday, July 11th. Stifel Nicolaus reiterated a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a report on Friday. Barclays PLC reiterated an “overweight” rating and issued a $57.00 target price (up previously from $52.00) on shares of Abbott Laboratories in a report on Saturday. Finally, Guggenheim began coverage on Abbott Laboratories in a report on Thursday, June 29th. They issued a “buy” rating and a $58.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and a consensus target price of $52.13.
Shares of Abbott Laboratories (ABT) opened at 50.84 on Monday. The stock has a market capitalization of $88.22 billion, a P/E ratio of 71.20 and a beta of 1.06. Abbott Laboratories has a one year low of $37.38 and a one year high of $51.13. The stock’s 50 day moving average is $48.18 and its 200-day moving average is $44.68.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $6.64 billion during the quarter, compared to analysts’ expectations of $6.63 billion. Abbott Laboratories had a net margin of 4.96% and a return on equity of 15.53%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, July 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 149.30%.
In other Abbott Laboratories news, insider Jared Watkin sold 552 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $47.97, for a total value of $26,479.44. Following the sale, the insider now owns 47,090 shares in the company, valued at approximately $2,258,907.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph J. Manning sold 4,200 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $43.95, for a total value of $184,590.00. Following the completion of the sale, the insider now owns 26,224 shares in the company, valued at approximately $1,152,544.80. The disclosure for this sale can be found here. Insiders have sold a total of 206,902 shares of company stock worth $9,497,761 in the last quarter. 0.76% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC bought a new position in Abbott Laboratories during the fourth quarter valued at $348,000. Cigna Investments Inc. New bought a new position in Abbott Laboratories during the fourth quarter valued at $2,084,000. L & S Advisors Inc bought a new position in Abbott Laboratories during the fourth quarter valued at $468,000. Menora Mivtachim Holdings LTD. bought a new position in Abbott Laboratories during the fourth quarter valued at $129,000. Finally, Congress Asset Management Co. MA bought a new position in Abbott Laboratories during the fourth quarter valued at $348,000. Hedge funds and other institutional investors own 71.08% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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