Abbott Laboratories (ABT) Scheduled to Post Earnings on Wednesday
Abbott Laboratories (NYSE:ABT) will release its earnings data before the market opens on Wednesday, October 18th. Analysts expect Abbott Laboratories to post earnings of $0.66 per share for the quarter. Abbott Laboratories has set its FY17 guidance at $2.43-2.53 EPS and its Q3 guidance at $0.64-0.66 EPS.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Abbott Laboratories had a net margin of 4.96% and a return on equity of 14.43%. The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same quarter in the prior year, the firm earned $0.55 EPS. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. On average, analysts expect Abbott Laboratories to post $2.49 EPS for the current fiscal year and $2.80 EPS for the next fiscal year.
Abbott Laboratories (NYSE:ABT) opened at 55.40 on Wednesday. The firm’s 50-day moving average is $52.07 and its 200-day moving average is $47.95. Abbott Laboratories has a 52-week low of $37.38 and a 52-week high of $55.43. The firm has a market capitalization of $96.25 billion, a P/E ratio of 77.59 and a beta of 1.06.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 149.30%.
Several analysts recently commented on the company. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Tuesday. J P Morgan Chase & Co initiated coverage on Abbott Laboratories in a report on Friday, October 6th. They set a “neutral” rating and a $60.00 price target for the company. Bank of America Corporation reissued a “buy” rating and set a $60.00 price target (up previously from $56.00) on shares of Abbott Laboratories in a report on Wednesday, October 4th. Royal Bank Of Canada reissued a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a report on Tuesday, October 3rd. Finally, BMO Capital Markets reissued a “hold” rating and set a $53.00 price target on shares of Abbott Laboratories in a report on Monday, October 2nd. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $54.94.
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In other Abbott Laboratories news, insider Jaime Contreras sold 52,700 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the sale, the insider now directly owns 58,739 shares in the company, valued at $3,052,665.83. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $52.95, for a total value of $3,307,257.00. Following the sale, the insider now owns 113,426 shares in the company, valued at $6,005,906.70. The disclosure for this sale can be found here. Insiders sold 333,310 shares of company stock worth $16,857,255 over the last quarter. 0.76% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Keel Point LLC grew its stake in Abbott Laboratories by 2.2% in the second quarter. Keel Point LLC now owns 13,580 shares of the healthcare product maker’s stock worth $660,000 after purchasing an additional 294 shares in the last quarter. Simmons Bank grew its stake in Abbott Laboratories by 1.5% in the second quarter. Simmons Bank now owns 23,978 shares of the healthcare product maker’s stock worth $1,166,000 after purchasing an additional 343 shares in the last quarter. Hutner Capital Management Inc. grew its stake in Abbott Laboratories by 1.0% in the second quarter. Hutner Capital Management Inc. now owns 42,298 shares of the healthcare product maker’s stock worth $2,056,000 after purchasing an additional 411 shares in the last quarter. South Texas Money Management Ltd. grew its stake in Abbott Laboratories by 5.7% in the second quarter. South Texas Money Management Ltd. now owns 8,195 shares of the healthcare product maker’s stock worth $398,000 after purchasing an additional 444 shares in the last quarter. Finally, National Asset Management Inc. grew its stake in Abbott Laboratories by 2.4% in the second quarter. National Asset Management Inc. now owns 20,413 shares of the healthcare product maker’s stock worth $993,000 after purchasing an additional 473 shares in the last quarter. 71.50% of the stock is currently owned by hedge funds and other institutional investors.
About Abbott Laboratories
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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