Abbott Laboratories (ABT) Forecasted to Post FY2017 Earnings of $2.49 Per Share
Abbott Laboratories (NYSE:ABT) – Analysts at Leerink Swann issued their FY2017 earnings estimates for shares of Abbott Laboratories in a research report issued to clients and investors on Thursday. Leerink Swann analyst D. Antalffy anticipates that the healthcare product maker will earn $2.49 per share for the year. Leerink Swann also issued estimates for Abbott Laboratories’ Q4 2017 earnings at $0.72 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.72 EPS, Q3 2018 earnings at $0.77 EPS, Q4 2018 earnings at $0.78 EPS, FY2018 earnings at $2.83 EPS, FY2019 earnings at $3.16 EPS, FY2020 earnings at $3.52 EPS and FY2021 earnings at $3.91 EPS.
Other analysts have also recently issued research reports about the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a report on Thursday. BidaskClub cut shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a report on Friday, July 21st. Morgan Stanley reaffirmed an “equal weight” rating on shares of Abbott Laboratories in a report on Monday, July 10th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Abbott Laboratories in a report on Thursday, August 17th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $56.81.
Shares of Abbott Laboratories (ABT) opened at 56.32 on Monday. The stock has a 50 day moving average of $53.27 and a 200 day moving average of $48.51. The stock has a market cap of $97.85 billion, a P/E ratio of 78.88 and a beta of 1.06. Abbott Laboratories has a one year low of $37.38 and a one year high of $56.60.
Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 14.50%. The business’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share.
Institutional investors and hedge funds have recently modified their holdings of the stock. Tributary Capital Management LLC bought a new position in Abbott Laboratories during the third quarter valued at approximately $106,000. Heritage Trust Co raised its position in Abbott Laboratories by 10.1% during the second quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock valued at $106,000 after acquiring an additional 200 shares in the last quarter. Winfield Associates Inc. raised its position in Abbott Laboratories by 3.9% during the second quarter. Winfield Associates Inc. now owns 2,382 shares of the healthcare product maker’s stock valued at $116,000 after acquiring an additional 89 shares in the last quarter. Thompson Davis & CO. Inc. raised its position in Abbott Laboratories by 17.7% during the second quarter. Thompson Davis & CO. Inc. now owns 2,463 shares of the healthcare product maker’s stock valued at $120,000 after acquiring an additional 370 shares in the last quarter. Finally, V Wealth Management LLC bought a new position in Abbott Laboratories during the second quarter valued at approximately $127,000. 71.45% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Sharon J. Bracken sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.16, for a total transaction of $98,320.00. Following the transaction, the insider now owns 28,806 shares of the company’s stock, valued at $1,416,102.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the transaction, the insider now directly owns 221,488 shares in the company, valued at approximately $10,963,656. The disclosure for this sale can be found here. Insiders sold 333,310 shares of company stock valued at $16,857,255 over the last three months. 0.76% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a $0.265 dividend. 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 (DPR) is 83.47%.
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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