Abbott Laboratories (ABT) Forecasted to Post FY2017 Earnings of $2.49 Per Share
Abbott Laboratories (NYSE:ABT) – Investment analysts at Jefferies Group issued their FY2017 EPS estimates for Abbott Laboratories in a research report issued to clients and investors on Wednesday. Jefferies Group analyst R. Denhoy forecasts that the healthcare product maker will earn $2.49 per share for the year. Jefferies Group currently has a “Buy” rating and a $65.00 price objective on the stock. Jefferies Group also issued estimates for Abbott Laboratories’ Q4 2017 earnings at $0.72 EPS, FY2018 earnings at $2.83 EPS, FY2019 earnings at $3.22 EPS and FY2020 earnings at $3.68 EPS.
A number of other research firms also recently weighed in on ABT. Stifel Nicolaus upped their price target on Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday. BMO Capital Markets reaffirmed a “hold” rating and set a $53.00 price target on shares of Abbott Laboratories in a research report on Friday, September 1st. Cowen and Company reaffirmed a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research report on Thursday, August 17th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a research report on Tuesday, October 3rd. Finally, TheStreet raised Abbott Laboratories from a “c+” rating to a “b” rating in a research report on Monday, July 3rd. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $56.81.
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Abbott Laboratories (ABT) opened at 56.32 on Monday. Abbott Laboratories has a 12 month low of $37.38 and a 12 month high of $56.60. The company’s 50-day moving average is $53.27 and its 200 day moving average is $48.51. The company has a market cap of $97.85 billion, a price-to-earnings ratio of 78.88 and a beta of 1.06.
Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion for the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 14.50%. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is currently 83.47%.
In related news, insider Sharon J. Bracken sold 2,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $49.16, for a total value of $98,320.00. Following the sale, the insider now owns 28,806 shares in the company, valued at approximately $1,416,102.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total value of $9,729,225.00. Following the completion of the sale, the insider now owns 221,488 shares in the company, valued at approximately $10,963,656. The disclosure for this sale can be found here. In the last quarter, insiders have sold 333,310 shares of company stock worth $16,857,255. Company insiders own 0.76% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ABT. Waldron LP raised its stake in Abbott Laboratories by 41.0% in the 1st quarter. Waldron LP now owns 10,042 shares of the healthcare product maker’s stock valued at $442,000 after acquiring an additional 2,922 shares during the period. Callahan Advisors LLC raised its stake in Abbott Laboratories by 5.6% in the 1st quarter. Callahan Advisors LLC now owns 82,573 shares of the healthcare product maker’s stock valued at $3,667,000 after acquiring an additional 4,414 shares during the period. Capital Advisors Inc. OK raised its stake in Abbott Laboratories by 1.4% in the 1st quarter. Capital Advisors Inc. OK now owns 31,030 shares of the healthcare product maker’s stock valued at $1,378,000 after acquiring an additional 416 shares during the period. Welch & Forbes LLC raised its stake in Abbott Laboratories by 2.1% in the 1st quarter. Welch & Forbes LLC now owns 660,471 shares of the healthcare product maker’s stock valued at $29,331,000 after acquiring an additional 13,448 shares during the period. Finally, Investment Counselors of Maryland LLC raised its stake in Abbott Laboratories by 2.4% in the 1st quarter. Investment Counselors of Maryland LLC now owns 18,185 shares of the healthcare product maker’s stock valued at $808,000 after acquiring an additional 425 shares during the period. Institutional investors and hedge funds own 71.45% of the company’s stock.
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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