Abbott Laboratories (NYSE:ABT) Issues FY 2024 Earnings Guidance

Abbott Laboratories (NYSE:ABT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 4.550-4.700 for the period, compared to the consensus earnings per share estimate of 4.590. The company issued revenue guidance of -. Abbott Laboratories also updated its Q2 2024 guidance to 1.080-1.120 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Citigroup upped their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Evercore ISI increased their price target on Abbott Laboratories from $120.00 to $125.00 and gave the company an outperform rating in a research note on Thursday, April 4th. Raymond James increased their price target on Abbott Laboratories from $124.00 to $127.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Barclays increased their price target on Abbott Laboratories from $133.00 to $141.00 and gave the company an overweight rating in a research note on Friday, January 26th. Finally, TheStreet raised Abbott Laboratories from a c+ rating to a b- rating in a research note on Thursday, December 21st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $122.14.

Abbott Laboratories Trading Down 3.2 %

Shares of NYSE ABT traded down $3.45 during midday trading on Wednesday, hitting $105.76. The company’s stock had a trading volume of 9,157,790 shares, compared to its average volume of 5,634,908. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $114.57 and its two-hundred day moving average is $107.60. Abbott Laboratories has a 12-month low of $89.67 and a 12-month high of $121.64. The firm has a market cap of $183.51 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 2.62 and a beta of 0.74.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, January 24th. The healthcare product maker reported $1.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.19. Abbott Laboratories had a return on equity of 20.65% and a net margin of 14.27%. The company had revenue of $10.24 billion for the quarter, compared to analysts’ expectations of $10.19 billion. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Abbott Laboratories’s revenue was up 1.5% compared to the same quarter last year. As a group, equities research analysts expect that Abbott Laboratories will post 4.62 EPS for the current year.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $2.20 annualized dividend and a yield of 2.08%. Abbott Laboratories’s dividend payout ratio (DPR) is currently 67.48%.

Insider Buying and Selling

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the sale, the executive vice president now owns 78,704 shares of the company’s stock, valued at approximately $9,444,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Abbott Laboratories news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $112.50, for a total transaction of $4,781,250.00. Following the sale, the executive vice president now owns 65,027 shares of the company’s stock, valued at approximately $7,315,537.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the sale, the executive vice president now directly owns 78,704 shares in the company, valued at approximately $9,444,480. The disclosure for this sale can be found here. Insiders have sold a total of 56,435 shares of company stock valued at $6,451,298 over the last quarter. 0.47% of the stock is owned by corporate insiders.

Institutional Trading of Abbott Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fairfield Bush & CO. acquired a new stake in shares of Abbott Laboratories in the 1st quarter worth $131,000. United Bank raised its stake in Abbott Laboratories by 7.2% in the 1st quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock worth $3,229,000 after acquiring an additional 1,826 shares during the last quarter. Mackenzie Financial Corp raised its stake in Abbott Laboratories by 1.9% in the 1st quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock worth $96,257,000 after acquiring an additional 15,521 shares during the last quarter. Kinneret Advisory LLC raised its stake in Abbott Laboratories by 2.3% in the 1st quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock worth $2,304,000 after acquiring an additional 436 shares during the last quarter. Finally, Lumature Wealth Partners LLC raised its stake in Abbott Laboratories by 636.2% in the 1st quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock worth $262,000 after acquiring an additional 1,915 shares during the last quarter. Institutional investors own 75.18% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, 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 company 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.