Abbott Laboratories (NYSE:ABT) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.79-0.81 for the period, compared to the Thomson Reuters consensus estimate of $0.81. Abbott Laboratories also updated its FY 2019 guidance to $3.15-3.25 EPS.
Shares of Abbott Laboratories stock opened at $76.38 on Wednesday. The stock has a market capitalization of $136.13 billion, a P/E ratio of 26.52, a PEG ratio of 2.08 and a beta of 1.13. Abbott Laboratories has a 1 year low of $56.81 and a 1 year high of $80.74. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 0.63.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.02. The firm had revenue of $7.54 billion during the quarter, compared to analyst estimates of $7.49 billion. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.55%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. As a group, analysts expect that Abbott Laboratories will post 3.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Monday, April 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $1.28 annualized dividend and a yield of 1.68%. Abbott Laboratories’s payout ratio is 44.44%.
A number of analysts have weighed in on ABT shares. Citigroup lowered Abbott Laboratories from a neutral rating to a sell rating and reduced their target price for the stock from $72.00 to $68.00 in a research note on Wednesday, January 2nd. Morgan Stanley raised their price target on Abbott Laboratories from $82.00 to $85.00 and gave the stock an overweight rating in a report on Wednesday, January 2nd. Gabelli reissued a buy rating on shares of Abbott Laboratories in a report on Wednesday, January 2nd. BTIG Research reissued a hold rating on shares of Abbott Laboratories in a report on Thursday, January 24th. Finally, Argus lifted their price target on Abbott Laboratories to $90.00 and gave the company an in-line rating in a research report on Friday, January 25th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $80.48.
In other Abbott Laboratories news, insider Jaime Contreras sold 177,457 shares of the business’s stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $70.00, for a total transaction of $12,421,990.00. Following the transaction, the insider now owns 100,985 shares of the company’s stock, valued at $7,068,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jared Watkin sold 1,391 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $78.00, for a total value of $108,498.00. Following the transaction, the senior vice president now directly owns 75,926 shares in the company, valued at approximately $5,922,228. The disclosure for this sale can be found here. Insiders have sold 280,021 shares of company stock worth $20,485,856 in the last three months. 0.70% of the stock is currently owned by corporate insiders.
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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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