Abbott Laboratories (NYSE:ABT) Expected to Announce Earnings of $0.89 Per Share

Brokerages predict that Abbott Laboratories (NYSE:ABT) will report $0.89 earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have provided estimates for Abbott Laboratories’ earnings, with estimates ranging from $0.84 to $0.96. Abbott Laboratories reported earnings of $0.84 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 6%. The business is expected to report its next quarterly earnings report on Wednesday, October 21st.

According to Zacks, analysts expect that Abbott Laboratories will report full year earnings of $3.27 per share for the current fiscal year, with EPS estimates ranging from $3.25 to $3.41. For the next fiscal year, analysts anticipate that the business will post earnings of $3.96 per share, with EPS estimates ranging from $3.70 to $4.52. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Abbott Laboratories.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.15. Abbott Laboratories had a return on equity of 17.34% and a net margin of 9.89%. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. Abbott Laboratories’s revenue was down 8.2% on a year-over-year basis.

A number of brokerages have commented on ABT. BTIG Research restated a “hold” rating on shares of Abbott Laboratories in a research report on Thursday, August 27th. SVB Leerink upped their price target on Abbott Laboratories from $97.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Wolfe Research began coverage on Abbott Laboratories in a research report on Friday, September 11th. They issued an “outperform” rating and a $124.00 price target for the company. Credit Suisse Group upped their price target on Abbott Laboratories from $109.00 to $136.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. Finally, Goldman Sachs Group set a $94.00 target price on Abbott Laboratories and gave the stock a “sell” rating in a research report on Wednesday, September 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $111.19.

ABT traded down $0.88 during midday trading on Wednesday, reaching $105.70. The company had a trading volume of 3,934,859 shares, compared to its average volume of 7,450,978. The company has a quick ratio of 1.10, a current ratio of 1.57 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average of $103.06 and a two-hundred day moving average of $91.79. The company has a market cap of $188.70 billion, a P/E ratio of 61.68, a P/E/G ratio of 2.94 and a beta of 0.96. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $114.19.

In related news, SVP Michael J. Pederson sold 23,008 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $98.00, for a total transaction of $2,254,784.00. Following the completion of the sale, the senior vice president now directly owns 96,899 shares of the company’s stock, valued at approximately $9,496,102. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel Gesua Sive Salvadori sold 42,479 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $111.86, for a total value of $4,751,700.94. Following the sale, the executive vice president now directly owns 144,912 shares of the company’s stock, valued at $16,209,856.32. The disclosure for this sale can be found here. Insiders sold a total of 81,121 shares of company stock valued at $8,636,628 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Several hedge funds have recently modified their holdings of ABT. Lincoln National Corp increased its holdings in Abbott Laboratories by 11.5% during the 1st quarter. Lincoln National Corp now owns 43,055 shares of the healthcare product maker’s stock worth $3,397,000 after purchasing an additional 4,457 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in Abbott Laboratories by 6.6% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 1,344,361 shares of the healthcare product maker’s stock worth $106,084,000 after purchasing an additional 82,869 shares during the period. Highland Capital Management LLC purchased a new position in Abbott Laboratories during the 1st quarter worth $297,000. Teacher Retirement System of Texas increased its holdings in Abbott Laboratories by 3.8% during the 1st quarter. Teacher Retirement System of Texas now owns 135,810 shares of the healthcare product maker’s stock worth $10,717,000 after purchasing an additional 5,015 shares during the period. Finally, EPG Wealth Management LLC increased its holdings in Abbott Laboratories by 74.1% during the 1st quarter. EPG Wealth Management LLC now owns 2,908 shares of the healthcare product maker’s stock worth $230,000 after purchasing an additional 1,238 shares during the period. 73.09% of the stock is owned by hedge funds and other institutional investors.

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

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