Abbott Laboratories (ABT) Expected to Announce Quarterly Sales of $7.26 Billion

Wall Street brokerages expect that Abbott Laboratories (NYSE:ABT) will post $7.26 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Abbott Laboratories’ earnings. The highest sales estimate is $7.32 billion and the lowest is $7.20 billion. Abbott Laboratories posted sales of $6.34 billion during the same quarter last year, which would suggest a positive year over year growth rate of 14.5%. The firm is expected to issue its next earnings results on Wednesday, April 18th.

According to Zacks, analysts expect that Abbott Laboratories will report full year sales of $7.26 billion for the current year, with estimates ranging from $30.64 billion to $31.18 billion. For the next fiscal year, analysts forecast that the business will post sales of $32.74 billion per share, with estimates ranging from $32.48 billion to $33.22 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Abbott Laboratories.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $7.38 billion. Abbott Laboratories had a return on equity of 13.80% and a net margin of 1.74%. The company’s revenue was up 42.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS.

Several equities analysts have recently weighed in on the company. Barclays increased their price target on Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Guggenheim reissued a “buy” rating and set a $72.00 price target on shares of Abbott Laboratories in a report on Thursday, January 25th. Royal Bank of Canada reissued a “buy” rating and set a $67.00 price target on shares of Abbott Laboratories in a report on Thursday, January 25th. Leerink Swann reissued a “market perform” rating and set a $68.00 price target (up from $60.00) on shares of Abbott Laboratories in a report on Thursday, January 25th. Finally, Citigroup increased their price target on Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $65.47.

Abbott Laboratories (NYSE:ABT) opened at $56.27 on Friday. The firm has a market capitalization of $97,940.00, a price-to-earnings ratio of 281.35, a PEG ratio of 1.77 and a beta of 1.55. 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 twelve month low of $42.31 and a twelve month high of $64.60.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.99%. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Thursday, January 11th. Abbott Laboratories’s dividend payout ratio is 560.00%.

In other Abbott Laboratories news, insider Daniel Gesua Sive Salvadori sold 71,157 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $55.00, for a total value of $3,913,635.00. Following the completion of the sale, the insider now owns 144,955 shares in the company, valued at approximately $7,972,525. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Miles D. White sold 276,886 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $54.41, for a total value of $15,065,367.26. Following the completion of the sale, the chairman now owns 3,677,913 shares of the company’s stock, valued at approximately $200,115,246.33. The disclosure for this sale can be found here. Insiders sold a total of 445,615 shares of company stock valued at $24,666,341 over the last 90 days. 0.76% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. IFG Advisory LLC purchased a new stake in Abbott Laboratories in the 4th quarter worth $2,824,000. Rowland & Co. Investment Counsel ADV purchased a new stake in Abbott Laboratories in the 4th quarter worth $102,000. Tributary Capital Management LLC purchased a new stake in Abbott Laboratories in the 3rd quarter worth $106,000. Heritage Trust Co increased its stake in Abbott Laboratories by 10.1% in the 2nd quarter. Heritage Trust Co now owns 2,175 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 200 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Abbott Laboratories in the 4th quarter worth $133,000. Institutional investors and hedge funds own 71.22% of the company’s stock.

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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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