Q4 2017 EPS Estimates for Abbott Laboratories Lifted by William Blair (ABT)
Abbott Laboratories (NYSE:ABT) – William Blair increased their Q4 2017 earnings estimates for shares of Abbott Laboratories in a report released on Wednesday. William Blair analyst M. Kaczor now anticipates that the healthcare product maker will post earnings of $0.73 per share for the quarter, up from their previous estimate of $0.72.
Several other research firms also recently issued reports on ABT. Citigroup Inc. reaffirmed a “neutral” rating on shares of Abbott Laboratories in a report on Thursday. Barclays PLC reaffirmed an “overweight” rating on shares of Abbott Laboratories in a report on Thursday. BMO Capital Markets reaffirmed a “market perform” rating on shares of Abbott Laboratories in a report on Thursday. Stifel Nicolaus upped their price objective on shares of Abbott Laboratories from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Royal Bank Of Canada upped their price objective on shares of Abbott Laboratories from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $56.81.
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Shares of Abbott Laboratories (ABT) opened at 56.32 on Monday. Abbott Laboratories has a 1-year low of $37.38 and a 1-year high of $56.60. The stock has a market cap of $97.85 billion, a P/E ratio of 78.88 and a beta of 1.06. The company’s 50-day moving average is $53.27 and its 200 day moving average is $48.51.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Abbott Laboratories had a net margin of 8.37% and a return on equity of 14.50%. The firm had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. During the same quarter in the previous year, the firm posted $0.59 EPS. The firm’s quarterly revenue was up 28.8% on a year-over-year basis.
Several hedge funds have recently made changes to their positions in the company. Farmers & Merchants Investments Inc. raised its stake in shares of Abbott Laboratories by 5.7% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 124,219 shares of the healthcare product maker’s stock valued at $6,628,000 after buying an additional 6,729 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in shares of Abbott Laboratories by 2.2% in the 3rd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 51,119 shares of the healthcare product maker’s stock valued at $2,728,000 after buying an additional 1,090 shares in the last quarter. Tributary Capital Management LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at $106,000. Bristlecone Advisors LLC acquired a new position in shares of Abbott Laboratories in the 3rd quarter valued at $212,000. Finally, First United Bank Trust raised its stake in shares of Abbott Laboratories by 40.4% in the 3rd quarter. First United Bank Trust now owns 8,256 shares of the healthcare product maker’s stock valued at $441,000 after buying an additional 2,375 shares in the last quarter. Institutional investors own 71.45% of the company’s stock.
In other news, insider Brian J. Blaser sold 15,000 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $50.00, for a total value of $750,000.00. Following the completion of the transaction, the insider now owns 143,154 shares in the company, valued at approximately $7,157,700. The sale was disclosed in a filing with the SEC, which is available at this link. 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 transaction of $9,729,225.00. Following the completion of the transaction, the insider now owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The disclosure for this sale can be found here. In the last 90 days, insiders sold 333,310 shares of company stock valued at $16,857,255. Corporate insiders own 0.76% of the company’s stock.
The firm 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 $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio is 83.47%.
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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