AbbVie (NYSE:ABBV) issued its earnings results on Friday. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.04, Bloomberg Earnings reports. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter last year, the business earned $1.20 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. AbbVie updated its FY18 guidance to $7.33-7.43 EPS and its Q1 guidance to $1.77-1.79 EPS.
Shares of AbbVie (NYSE ABBV) traded up $14.91 during mid-day trading on Friday, reaching $123.21. The company had a trading volume of 19,317,755 shares, compared to its average volume of 4,580,000. AbbVie has a 12 month low of $59.27 and a 12 month high of $125.86. The stock has a market capitalization of $223,450.00, a price-to-earnings ratio of 29.91, a price-to-earnings-growth ratio of 1.26 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.
In related news, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the sale, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. Insiders sold 494,676 shares of company stock valued at $47,237,938 in the last ninety days. 0.23% of the stock is currently owned by insiders.
Several research analysts have recently issued reports on ABBV shares. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Tuesday, October 17th. BidaskClub cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 target price on the stock in a report on Wednesday, December 20th. Credit Suisse Group set a $98.00 target price on shares of AbbVie and gave the stock a “hold” rating in a report on Monday, January 22nd. Finally, Cowen upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $91.17 to $105.00 in a report on Wednesday, October 11th. Seven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. AbbVie presently has an average rating of “Buy” and a consensus target price of $102.57.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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