FY2019 EPS Estimates for Abbott Laboratories Boosted by Analyst (NYSE:ABT)

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Abbott Laboratories (NYSE:ABT) – Stock analysts at Jefferies Financial Group upped their FY2019 earnings per share (EPS) estimates for Abbott Laboratories in a research report issued on Wednesday, October 16th. Jefferies Financial Group analyst R. Denhoy now expects that the healthcare product maker will post earnings of $3.25 per share for the year, up from their previous estimate of $3.24. Jefferies Financial Group currently has a “Buy” rating and a $98.00 target price on the stock. Jefferies Financial Group also issued estimates for Abbott Laboratories’ Q4 2019 earnings at $0.95 EPS, FY2020 earnings at $3.64 EPS and FY2021 earnings at $4.07 EPS.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, October 16th. The healthcare product maker reported $0.84 earnings per share for the quarter, meeting the consensus estimate of $0.84. Abbott Laboratories had a net margin of 10.50% and a return on equity of 17.76%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same period in the previous year, the business earned $0.75 EPS. The firm’s revenue was up 5.5% on a year-over-year basis.

Several other analysts have also weighed in on the stock. BMO Capital Markets lifted their target price on shares of Abbott Laboratories from $87.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Credit Suisse Group lifted their target price on shares of Abbott Laboratories from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday. Zacks Investment Research lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 target price on the stock. in a research report on Wednesday, August 21st. Cowen lifted their target price on shares of Abbott Laboratories from $86.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Finally, ValuEngine lowered shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of “Buy” and an average price target of $87.61.

Shares of Abbott Laboratories stock opened at $82.79 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68. The firm’s 50-day simple moving average is $82.87 and its 200-day simple moving average is $81.76. Abbott Laboratories has a twelve month low of $65.44 and a twelve month high of $88.76. The firm has a market cap of $145.60 billion, a P/E ratio of 28.75, a price-to-earnings-growth ratio of 2.31 and a beta of 1.13.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, October 11th. Abbott Laboratories’s dividend payout ratio is currently 44.44%.

In other Abbott Laboratories news, Director Sally E. Blount sold 2,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $87.65, for a total value of $219,125.00. Following the completion of the transaction, the director now directly owns 26,266 shares of the company’s stock, valued at $2,302,214.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Randel William Woodgrift sold 65,000 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $88.01, for a total transaction of $5,720,650.00. Following the completion of the transaction, the insider now directly owns 117,562 shares of the company’s stock, valued at $10,346,631.62. The disclosure for this sale can be found here. Insiders have sold a total of 181,497 shares of company stock valued at $15,701,810 over the last three months. 0.70% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Avitas Wealth Management LLC raised its stake in shares of Abbott Laboratories by 1.4% in the third quarter. Avitas Wealth Management LLC now owns 34,639 shares of the healthcare product maker’s stock worth $2,898,000 after acquiring an additional 480 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Abbott Laboratories by 3.6% in the third quarter. Whittier Trust Co. now owns 319,814 shares of the healthcare product maker’s stock worth $26,758,000 after acquiring an additional 11,172 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Abbott Laboratories by 1.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 151,589 shares of the healthcare product maker’s stock worth $12,683,000 after acquiring an additional 2,528 shares during the last quarter. Farmers & Merchants Investments Inc. raised its stake in shares of Abbott Laboratories by 0.9% in the third quarter. Farmers & Merchants Investments Inc. now owns 181,733 shares of the healthcare product maker’s stock worth $15,206,000 after acquiring an additional 1,689 shares during the last quarter. Finally, Mechanics Bank Trust Department raised its stake in shares of Abbott Laboratories by 9.9% in the third quarter. Mechanics Bank Trust Department now owns 116,570 shares of the healthcare product maker’s stock worth $9,753,000 after acquiring an additional 10,540 shares during the last quarter. 73.76% of the stock is owned by institutional investors.

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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Earnings History and Estimates for Abbott Laboratories (NYSE:ABT)

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