Abbott Laboratories (NYSE:ABT) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Abbott Laboratories (NYSE:ABT) posted its earnings results on Wednesday. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.02, RTT News reports. The company had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8 billion. Abbott Laboratories had a return on equity of 17.39% and a net margin of 9.36%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.73 EPS.

Shares of ABT opened at $87.49 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.13. The company has a 50 day simple moving average of $82.95. Abbott Laboratories has a 52-week low of $62.87 and a 52-week high of $88.32. The firm has a market cap of $154.35 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 2.45 and a beta of 1.10.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.28 annualized dividend and a dividend yield of 1.46%. Abbott Laboratories’s dividend payout ratio is presently 44.44%.

In other Abbott Laboratories news, insider Brian J. Blaser sold 450,062 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $75.52, for a total value of $33,988,682.24. Following the sale, the insider now owns 295,745 shares in the company, valued at approximately $22,334,662.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen R. Fussell sold 56,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $76.00, for a total value of $4,256,000.00. Following the completion of the sale, the executive vice president now owns 225,935 shares in the company, valued at approximately $17,171,060. The disclosure for this sale can be found here. Insiders sold a total of 1,199,910 shares of company stock valued at $93,837,075 over the last quarter. 0.70% of the stock is owned by insiders.

Several research firms have recently issued reports on ABT. Royal Bank of Canada boosted their target price on Alimentation Couche-Tard from C$85.00 to C$88.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Jefferies Financial Group lowered Alcoa from a “buy” rating to a “hold” rating and decreased their target price for the stock from $29.00 to $23.00 in a research report on Thursday. Cowen restated a “buy” rating and set a $184.00 target price on shares of Union Pacific in a research report on Thursday. Raymond James decreased their target price on SM Energy from $20.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, William Blair restated an “outperform” rating on shares of Abbott Laboratories in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. Abbott Laboratories has a consensus rating of “Buy” and an average price target of $85.82.

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 for Abbott Laboratories (NYSE:ABT)

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