FY2019 EPS Estimates for Abbott Laboratories (ABT) Increased by Analyst
Abbott Laboratories (NYSE:ABT) – Equities researchers at Gabelli increased their FY2019 earnings per share (EPS) estimates for Abbott Laboratories in a research report issued on Thursday. Gabelli analyst J. Tsai now anticipates that the healthcare product maker will post earnings per share of $3.00 for the year, up from their prior forecast of $2.95. Gabelli also issued estimates for Abbott Laboratories’ FY2020 earnings at $3.35 EPS and FY2021 earnings at $3.70 EPS.
A number of other brokerages have also issued reports on ABT. TheStreet raised shares of Abbott Laboratories from a “c+” rating to a “b” rating in a report on Wednesday, March 8th. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price target (up previously from $51.00) on shares of Abbott Laboratories in a report on Saturday, March 11th. BMO Capital Markets lowered shares of Abbott Laboratories from an “outperform” rating to a “market perform” rating and set a $48.00 price target on the stock. in a report on Tuesday, March 14th. Royal Bank of Canada raised their price target on shares of Abbott Laboratories from $46.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Finally, Zacks Investment Research lowered shares of Abbott Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, March 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $48.64.
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Abbott Laboratories (NYSE:ABT) traded down 0.853% during mid-day trading on Friday, hitting $43.605. 6,038,943 shares of the company’s stock were exchanged. The stock has a market cap of $75.35 billion, a PE ratio of 46.537 and a beta of 0.97. The stock’s 50 day moving average price is $44.52 and its 200-day moving average price is $41.64. Abbott Laboratories has a 12 month low of $36.76 and a 12 month high of $45.84. Abbott Laboratories also was the target of unusually large options trading activity on Tuesday. Investors purchased 10,359 put options on the company. This is an increase of approximately 892% compared to the typical daily volume of 1,044 put options.
Abbott Laboratories (NYSE:ABT) last posted its earnings results on Wednesday, April 19th. The healthcare product maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The firm had revenue of $6.34 billion for the quarter, compared to analysts’ expectations of $6.16 billion. Abbott Laboratories had a net margin of 6.71% and a return on equity of 15.74%. The company’s revenue was up 29.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Friday, April 14th will be issued a $0.265 dividend. The ex-dividend date is Tuesday, April 11th. This represents a $1.06 annualized dividend and a yield of 2.41%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 113.98%.
In other Abbott Laboratories news, insider Heather L. Mason sold 35,700 shares of Abbott Laboratories stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $40.77, for a total value of $1,455,489.00. Following the completion of the transaction, the insider now directly owns 100,189 shares of the company’s stock, valued at $4,084,705.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Roger Bird sold 13,222 shares of Abbott Laboratories stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $45.02, for a total transaction of $595,254.44. Following the completion of the transaction, the insider now directly owns 63,910 shares of the company’s stock, valued at $2,877,228.20. The disclosure for this sale can be found here. Insiders sold 78,592 shares of company stock valued at $3,400,139 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stratford Consulting LLC bought a new position in Abbott Laboratories during the third quarter valued at $212,000. Trust Co boosted its position in Abbott Laboratories by 2.7% in the second quarter. Trust Co now owns 49,442 shares of the healthcare product maker’s stock valued at $1,943,000 after buying an additional 1,318 shares during the last quarter. Farmers & Merchants Investments Inc. boosted its position in Abbott Laboratories by 3.0% in the third quarter. Farmers & Merchants Investments Inc. now owns 94,151 shares of the healthcare product maker’s stock valued at $3,982,000 after buying an additional 2,764 shares during the last quarter. Longer Investments Inc. boosted its position in Abbott Laboratories by 19.3% in the third quarter. Longer Investments Inc. now owns 50,360 shares of the healthcare product maker’s stock valued at $2,130,000 after buying an additional 8,140 shares during the last quarter. Finally, Atlas Brown Inc. boosted its position in Abbott Laboratories by 0.6% in the third quarter. Atlas Brown Inc. now owns 22,313 shares of the healthcare product maker’s stock valued at $944,000 after buying an additional 137 shares during the last quarter. 62.20% of the stock is owned by hedge funds and other institutional investors.
About Abbott Laboratories
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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