Abbott Laboratories (ABT) Expected to Announce Quarterly Sales of $7.38 Billion
Equities research analysts expect Abbott Laboratories (NYSE:ABT) to post $7.38 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Abbott Laboratories’ earnings, with estimates ranging from $7.29 billion to $7.46 billion. Abbott Laboratories posted sales of $5.33 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 38.5%. The firm is expected to announce its next quarterly earnings report on Wednesday, January 24th.
According to Zacks, analysts expect that Abbott Laboratories will report full-year sales of $7.38 billion for the current financial year, with estimates ranging from $27.00 billion to $27.31 billion. For the next financial year, analysts forecast that the firm will post sales of $30.19 billion per share, with estimates ranging from $29.86 billion to $30.59 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data 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 firm had revenue of $6.83 billion during the quarter, compared to analyst estimates of $6.72 billion. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. Abbott Laboratories’s quarterly revenue was up 28.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 earnings per share.
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In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the completion of the sale, the executive vice president now directly owns 142,082 shares in the company, valued at $7,986,429.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction dated 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 owns 221,488 shares of the company’s stock, valued at $10,963,656. The disclosure for this sale can be found here. Insiders have sold 408,313 shares of company stock worth $21,205,356 over the last three months. Company insiders own 0.76% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABT. Heritage Trust Co lifted its stake in shares of Abbott Laboratories by 10.1% in 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 period. Tributary Capital Management LLC bought a new position in Abbott Laboratories during the third quarter worth about $106,000. Winfield Associates Inc. lifted its stake 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 worth $116,000 after purchasing an additional 89 shares during the period. Thompson Davis & CO. Inc. lifted its stake 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 worth $120,000 after purchasing an additional 370 shares during the period. Finally, V Wealth Management LLC bought a new position in Abbott Laboratories during the second quarter worth about $127,000. Institutional investors and hedge funds own 70.64% of the company’s stock.
Abbott Laboratories (NYSE:ABT) opened at $55.30 on Tuesday. The company has a market capitalization of $95,384.93, a P/E ratio of 22.74, a PEG ratio of 2.05 and a beta of 1.06. Abbott Laboratories has a fifty-two week low of $37.38 and a fifty-two week high of $56.69. The company has a current ratio of 2.69, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.92%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s payout ratio 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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