Abbott Laboratories (ABT) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Abbott Laboratories (NYSE:ABT) issued its quarterly earnings results on Wednesday. The healthcare product maker reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.01, RTT News reports. The company had revenue of $7.39 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Abbott Laboratories had a net margin of 1.74% and a return on equity of 13.88%. The business’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period last year, the business earned $0.48 EPS. Abbott Laboratories updated its Q2 guidance to $0.70-0.72 EPS and its FY18 guidance to $2.80-2.90 EPS.

Shares of Abbott Laboratories stock opened at $59.80 on Wednesday. Abbott Laboratories has a 1 year low of $42.88 and a 1 year high of $64.60. The firm has a market cap of $103,505.22, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 1.76 and a beta of 1.50. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.26 and a quick ratio of 1.86.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, April 12th. Abbott Laboratories’s dividend payout ratio is 44.80%.

Several brokerages have recently weighed in on ABT. Wells Fargo raised their price target on shares of Abbott Laboratories from $66.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. William Blair raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research note on Thursday, January 25th. Morgan Stanley raised shares of Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target for the company in a research note on Tuesday, January 2nd. Finally, Barclays increased their price objective on Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $65.47.

In other Abbott Laboratories news, EVP Stephen R. Fussell sold 13,313 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total transaction of $836,588.92. Following the completion of the sale, the executive vice president now owns 152,343 shares of the company’s stock, valued at approximately $9,573,234.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian J. Blaser sold 27,733 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $62.26, for a total value of $1,726,656.58. Following the sale, the insider now directly owns 156,587 shares of the company’s stock, valued at approximately $9,749,106.62. The disclosure for this sale can be found here. Insiders have sold a total of 124,261 shares of company stock valued at $7,559,987 in the last ninety days. Insiders own 0.74% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ABT. Beach Investment Management LLC. lifted its holdings in Abbott Laboratories by 2,161.4% during the 2nd quarter. Beach Investment Management LLC. now owns 302,577 shares of the healthcare product maker’s stock valued at $14,708,000 after purchasing an additional 289,197 shares during the last quarter. Nationwide Fund Advisors lifted its holdings in Abbott Laboratories by 36.4% during the 2nd quarter. Nationwide Fund Advisors now owns 2,155,637 shares of the healthcare product maker’s stock valued at $104,786,000 after purchasing an additional 574,810 shares during the last quarter. Bahl & Gaynor Inc. lifted its holdings in Abbott Laboratories by 35.7% during the 2nd quarter. Bahl & Gaynor Inc. now owns 3,700,426 shares of the healthcare product maker’s stock valued at $142,134,000 after purchasing an additional 974,395 shares during the last quarter. Profund Advisors LLC lifted its holdings in Abbott Laboratories by 3.7% during the 2nd quarter. Profund Advisors LLC now owns 71,677 shares of the healthcare product maker’s stock valued at $3,484,000 after purchasing an additional 2,528 shares during the last quarter. Finally, Thrivent Financial For Lutherans lifted its holdings in Abbott Laboratories by 99.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 328,026 shares of the healthcare product maker’s stock valued at $15,945,000 after purchasing an additional 163,208 shares during the last quarter. 72.34% of the stock is owned by institutional investors and hedge funds.

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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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

Earnings History for Abbott Laboratories (NYSE:ABT)

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