Equities analysts predict that Abbott Laboratories (NYSE:ABT) will announce sales of $7.99 billion for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Abbott Laboratories’ earnings. The highest sales estimate is $8.01 billion and the lowest is $7.95 billion. Abbott Laboratories reported sales of $7.77 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.8%. The firm is expected to announce its next quarterly earnings report on Wednesday, July 17th.
On average, analysts expect that Abbott Laboratories will report full-year sales of $31.92 billion for the current year, with estimates ranging from $31.84 billion to $32.02 billion. For the next year, analysts expect that the business will report sales of $34.06 billion, with estimates ranging from $33.79 billion to $34.21 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $7.54 billion for the quarter, compared to analyst estimates of $7.49 billion. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 earnings per share.
A number of analysts recently commented on ABT shares. Barclays set a $84.00 price objective on Abbott Laboratories and gave the company a “buy” rating in a research note on Friday, March 8th. Zacks Investment Research lowered Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. Royal Bank of Canada increased their price objective on Abbott Laboratories to $82.00 and gave the company a “buy” rating in a research note on Monday, April 15th. They noted that the move was a valuation call. Finally, William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a research note on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $80.24.
In other Abbott Laboratories news, insider Joseph J. Manning sold 5,613 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $79.58, for a total transaction of $446,682.54. Following the completion of the sale, the insider now owns 56,029 shares in the company, valued at approximately $4,458,787.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jaime Contreras sold 918 shares of Abbott Laboratories stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $73.12, for a total value of $67,124.16. Following the completion of the transaction, the senior vice president now owns 34,706 shares of the company’s stock, valued at approximately $2,537,702.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 980,493 shares of company stock valued at $74,796,843. 0.70% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Alerus Financial NA bought a new stake in shares of Abbott Laboratories in the 4th quarter worth $1,593,000. M&R Capital Management Inc. lifted its position in shares of Abbott Laboratories by 1.5% during the 4th quarter. M&R Capital Management Inc. now owns 25,957 shares of the healthcare product maker’s stock worth $1,877,000 after purchasing an additional 381 shares during the last quarter. Northern Trust Corp lifted its position in shares of Abbott Laboratories by 2.7% during the 4th quarter. Northern Trust Corp now owns 26,603,904 shares of the healthcare product maker’s stock worth $1,924,260,000 after purchasing an additional 708,691 shares during the last quarter. Barometer Capital Management Inc. acquired a new position in shares of Abbott Laboratories during the 4th quarter worth about $8,251,000. Finally, Eagle Ridge Investment Management lifted its position in shares of Abbott Laboratories by 0.9% during the 4th quarter. Eagle Ridge Investment Management now owns 178,095 shares of the healthcare product maker’s stock worth $12,882,000 after purchasing an additional 1,606 shares during the last quarter. Institutional investors own 73.42% of the company’s stock.
ABT opened at $81.95 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.61. The firm has a market cap of $142.44 billion, a P/E ratio of 28.45, a P/E/G ratio of 2.27 and a beta of 1.08. Abbott Laboratories has a 52 week low of $60.31 and a 52 week high of $82.00.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.
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