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.
TRADEMARK VIOLATION WARNING: This article was originally published by Financial Market News and is the property of of Financial Market News. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://www.financial-market-news.com/2017/04/21/fy2019-eps-estimates-for-abbott-laboratories-abt-increased-by-analyst.html.
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.
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.