Gabelli Weighs in on Abbott Laboratories’ FY2017 Earnings (ABT)
Abbott Laboratories (NYSE:ABT) – Equities research analysts at Gabelli issued their FY2017 EPS estimates for shares of Abbott Laboratories in a research note issued on Thursday. Gabelli analyst J. Tsai forecasts that the healthcare product maker will post earnings per share of $2.50 for the year. Gabelli also issued estimates for Abbott Laboratories’ FY2018 earnings at $2.80 EPS, FY2019 earnings at $3.15 EPS, FY2020 earnings at $3.55 EPS and FY2021 earnings at $3.95 EPS.
Other equities analysts also recently issued research reports about the stock. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b” rating in a research note on Monday, July 3rd. BidaskClub downgraded shares of Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Guggenheim initiated coverage on shares of Abbott Laboratories in a research note on Thursday, June 29th. They issued a “buy” rating and a $58.00 price objective for the company. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research note on Friday, July 21st. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $56.81.
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Shares of Abbott Laboratories (NYSE ABT) opened at 56.32 on Monday. The company’s 50-day moving average price is $53.27 and its 200 day moving average price is $48.51. Abbott Laboratories has a one year low of $37.38 and a one year high of $56.60. The stock has a market capitalization of $97.85 billion, a PE ratio of 78.88 and a beta of 1.06.
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 consensus estimate of $0.65 by $0.01. The company had revenue of $6.83 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Abbott Laboratories had a return on equity of 14.50% and a net margin of 8.37%. Abbott Laboratories’s quarterly revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the company. Heritage Trust Co grew its holdings in shares of 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 buying an additional 200 shares during the last quarter. Tributary Capital Management LLC purchased a new stake in shares of Abbott Laboratories during the third quarter valued at $106,000. Winfield Associates Inc. grew its holdings in shares of 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 buying an additional 89 shares during the last quarter. Thompson Davis & CO. Inc. grew its holdings in shares of 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 buying an additional 370 shares during the last quarter. Finally, V Wealth Management LLC purchased a new stake in shares of Abbott Laboratories during the second quarter valued at $127,000. 71.45% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Stephen R. Fussell sold 196,550 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 221,488 shares of the company’s stock, valued at $10,963,656. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sharon J. Bracken sold 2,000 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 28,806 shares in the company, valued at $1,416,102.96. The disclosure for this sale can be found here. Insiders have sold 333,310 shares of company stock worth $16,857,255 over the last three months. Corporate insiders own 0.76% of the company’s stock.
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 given 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 payout ratio is presently 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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