Abbott Laboratories (NYSE:ABT) Issues Q4 2024 Earnings Guidance

Abbott Laboratories (NYSE:ABT) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.310-1.370 for the period, compared to the consensus EPS estimate of 1.340. The company issued revenue guidance of -. Abbott Laboratories also updated its FY 2024 guidance to 4.640-4.700 EPS.

Analyst Ratings Changes

Several research firms have recently commented on ABT. Jefferies Financial Group reiterated a hold rating and set a $120.00 price objective on shares of Abbott Laboratories in a research note on Thursday, September 26th. Piper Sandler Companies initiated coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They issued an overweight rating and a $131.00 price target on the stock. Barclays upped their price target on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an overweight rating in a report on Monday, July 29th. Royal Bank of Canada upped their price target on shares of Abbott Laboratories from $125.00 to $130.00 and gave the company an outperform rating in a report on Tuesday, October 8th. Finally, Raymond James reaffirmed a buy rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a report on Monday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $125.54.

Abbott Laboratories Trading Down 1.0 %

ABT stock opened at $116.04 on Wednesday. The company’s 50-day simple moving average is $113.44 and its 200-day simple moving average is $108.34. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 52-week low of $90.87 and a 52-week high of $121.64. The firm has a market cap of $201.87 billion, a P/E ratio of 36.15, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The firm had revenue of $10.38 billion during the quarter, compared to the consensus estimate of $10.37 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts forecast that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.54%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $116.41, for a total value of $16,492,852.39. Following the completion of the sale, the chief executive officer now owns 220,059 shares in the company, valued at approximately $25,617,068.19. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.