Abbott Laboratories (NYSE:ABT) Updates FY 2021 Earnings Guidance


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Abbott Laboratories (NYSE:ABT) updated its FY 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of 5.000- for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.040. The company issued revenue guidance of -.

NYSE ABT traded down $1.92 during midday trading on Tuesday, hitting $117.61. The company had a trading volume of 532,375 shares, compared to its average volume of 5,216,047. The company has a quick ratio of 1.19, a current ratio of 1.70 and a debt-to-equity ratio of 0.58. The stock has a market cap of $208.35 billion, a price-to-earnings ratio of 63.24, a P/E/G ratio of 2.06 and a beta of 0.83. The firm has a fifty day simple moving average of $120.90 and a two-hundred day simple moving average of $115.19. Abbott Laboratories has a fifty-two week low of $86.16 and a fifty-two week high of $128.54.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.05. The company had revenue of $10.45 billion for the quarter, compared to analyst estimates of $10.72 billion. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The business’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period last year, the business posted $0.65 EPS. As a group, equities analysts predict that Abbott Laboratories will post 3.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 17th. Investors of record on Thursday, April 15th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.53%. Abbott Laboratories’s payout ratio is currently 55.56%.

A number of research firms recently weighed in on ABT. Raymond James upped their target price on shares of Abbott Laboratories from $126.00 to $130.00 and gave the company an outperform rating in a research note on Wednesday, March 17th. Wells Fargo & Company upped their price objective on shares of Abbott Laboratories from $128.00 to $137.00 in a research note on Thursday, January 28th. Credit Suisse Group upped their price objective on shares of Abbott Laboratories from $118.00 to $130.00 and gave the stock an outperform rating in a research note on Thursday, January 28th. Morgan Stanley upped their price objective on shares of Abbott Laboratories from $136.00 to $140.00 and gave the stock an overweight rating in a research note on Tuesday, April 27th. Finally, BTIG Research raised shares of Abbott Laboratories from a neutral rating to a buy rating and set a $140.00 price objective on the stock in a research note on Thursday, January 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $126.06.

In other news, Director Michelle Kumbier bought 2,040 shares of the stock in a transaction on Tuesday, February 23rd. The stock was purchased at an average price of $122.50 per share, with a total value of $249,900.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mary K. Moreland sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 22nd. The shares were sold at an average price of $121.84, for a total transaction of $48,736.00. Following the completion of the sale, the executive vice president now directly owns 76,886 shares of the company’s stock, valued at approximately $9,367,790.24. The disclosure for this sale can be found here. Insiders sold 8,726 shares of company stock worth $1,064,230 over the last 90 days. 1.70% of the stock is currently owned by company insiders.

About Abbott Laboratories

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

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Earnings History and Estimates for Abbott Laboratories (NYSE:ABT)

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