Brokerages Expect Abbott Laboratories (ABT) Will Announce Quarterly Sales of $7.37 Billion
Equities analysts predict that Abbott Laboratories (NYSE:ABT) will post $7.37 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Abbott Laboratories’ earnings. The lowest sales estimate is $7.29 billion and the highest is $7.46 billion. Abbott Laboratories reported sales of $5.33 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 38.3%. The business is scheduled to issue its next earnings results before the market opens on Wednesday, January 24th.
On average, analysts expect that Abbott Laboratories will report full year sales of $7.37 billion for the current financial year, with estimates ranging from $27.00 billion to $27.31 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $30.18 billion per share, with estimates ranging from $29.86 billion to $30.51 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last released 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. Abbott Laboratories had a return on equity of 13.98% and a net margin of 8.37%. The company had revenue of $6.83 billion for the quarter, compared to analysts’ expectations of $6.72 billion. During the same quarter in the previous year, the business posted $0.59 EPS. The business’s revenue for the quarter was up 28.8% on a year-over-year basis.
In other news, insider Alejandro D. Wellisch sold 2,153 shares of Abbott Laboratories stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $55.86, for a total transaction of $120,266.58. Following the completion of the sale, the insider now directly owns 10,256 shares in the company, valued at approximately $572,900.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian J. Blaser sold 23,866 shares of Abbott Laboratories stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $55.55, for a total value of $1,325,756.30. Following the sale, the insider now owns 146,387 shares of the company’s stock, valued at $8,131,797.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 501,172 shares of company stock valued at $27,533,150. 0.76% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of ABT. Capital Research Global Investors lifted its holdings in Abbott Laboratories by 45.7% in the 2nd quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock worth $2,313,334,000 after purchasing an additional 14,918,038 shares during the last quarter. State Street Corp lifted its holdings in Abbott Laboratories by 18.9% in the 1st quarter. State Street Corp now owns 80,499,469 shares of the healthcare product maker’s stock worth $3,574,987,000 after purchasing an additional 12,806,535 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Abbott Laboratories by 3,373.9% in the 2nd quarter. Janus Henderson Group PLC now owns 7,874,473 shares of the healthcare product maker’s stock worth $382,779,000 after purchasing an additional 7,647,798 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Abbott Laboratories by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock worth $6,308,944,000 after purchasing an additional 3,241,063 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Abbott Laboratories by 28.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,722,088 shares of the healthcare product maker’s stock worth $569,830,000 after purchasing an additional 2,606,404 shares during the last quarter. Hedge funds and other institutional investors own 71.15% of the company’s stock.
Abbott Laboratories (NYSE ABT) opened at $58.99 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.26 and a current ratio of 2.69. Abbott Laboratories has a 12 month low of $39.25 and a 12 month high of $59.60. The firm has a market capitalization of $102,680.00, a PE ratio of 48.75, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.90%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date is Thursday, January 11th. Abbott Laboratories’s payout ratio is currently 87.60%.
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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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