Abbott Laboratories (ABT) Scheduled to Post Earnings on Wednesday
Abbott Laboratories (NYSE:ABT) will be posting its quarterly earnings results before the market opens on Wednesday, January 24th. Analysts expect Abbott Laboratories to post earnings of $0.73 per share for the quarter.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 EPS 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 net margin of 8.37% and a return on equity of 13.98%. The company’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter last year, the business posted $0.59 EPS. On average, analysts expect Abbott Laboratories to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of Abbott Laboratories (NYSE ABT) opened at $58.44 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.69 and a quick ratio of 2.26. The company has a market cap of $101,720.00, a PE ratio of 48.30, a price-to-earnings-growth ratio of 1.87 and a beta of 1.55. Abbott Laboratories has a one year low of $39.25 and a one year high of $59.60.
In related news, Chairman Miles D. White sold 276,886 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the transaction, the chairman now directly owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Daniel Gesua Sive Salvadori sold 96,603 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $56.21, for a total transaction of $5,430,054.63. Following the completion of the transaction, the executive vice president now directly owns 142,082 shares of the company’s stock, valued at $7,986,429.22. The disclosure for this sale can be found here. Insiders have sold a total of 501,172 shares of company stock valued at $27,533,150 over the last three months. Insiders own 0.76% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC boosted its holdings in Abbott Laboratories by 19.3% in the 2nd quarter. Advisory Services Network LLC now owns 15,290 shares of the healthcare product maker’s stock valued at $743,000 after purchasing an additional 2,477 shares during the period. Koch Industries Inc. boosted its holdings in Abbott Laboratories by 9,064.8% in the 2nd quarter. Koch Industries Inc. now owns 616,701 shares of the healthcare product maker’s stock valued at $604,000 after purchasing an additional 609,972 shares during the period. Keel Point LLC boosted its holdings in Abbott Laboratories by 2.2% in the 2nd quarter. Keel Point LLC now owns 13,580 shares of the healthcare product maker’s stock valued at $660,000 after purchasing an additional 294 shares during the period. National Asset Management Inc. boosted its holdings in Abbott Laboratories by 2.4% in the 2nd quarter. National Asset Management Inc. now owns 20,413 shares of the healthcare product maker’s stock valued at $993,000 after purchasing an additional 473 shares during the period. Finally, BB&T Investment Services Inc. bought a new position in Abbott Laboratories in the 2nd quarter valued at $2,072,000. 71.19% of the stock is owned by institutional investors.
Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Friday, September 22nd. Barclays increased their price objective on shares of Abbott Laboratories from $57.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, September 28th. Jefferies Group reiterated a “buy” rating and issued a $65.00 price objective on shares of Abbott Laboratories in a research note on Thursday, October 19th. JPMorgan Chase & Co. assumed coverage on shares of Abbott Laboratories in a research note on Friday, October 6th. They issued a “neutral” rating and a $60.00 price objective for the company. Finally, Morgan Stanley upgraded shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price objective for the company in a research note on Tuesday, January 2nd. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and an average price target of $60.24.
WARNING: “Abbott Laboratories (ABT) Scheduled to Post Earnings on Wednesday” was posted by American Banking News and is the property of of American Banking News. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/01/17/abbott-laboratories-abt-scheduled-to-post-earnings-on-wednesday.html.
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.
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.