Abbott Laboratories (NYSE:ABT) Releases Q3 Earnings Guidance

Abbott Laboratories (NYSE:ABTGet Free Report) issued an update on its third quarter earnings guidance on Thursday morning. The company provided EPS guidance of $1.18-1.22 for the period, compared to the consensus EPS estimate of $1.21. Abbott Laboratories also updated its FY 2024 guidance to 4.610-4.710 EPS.

Abbott Laboratories Price Performance

Shares of NYSE ABT opened at $104.71 on Thursday. The firm’s 50-day moving average price is $103.93 and its 200-day moving average price is $109.59. Abbott Laboratories has a 1-year low of $89.67 and a 1-year high of $121.64. The firm has a market capitalization of $182.16 billion, a P/E ratio of 32.62, a P/E/G ratio of 2.47 and a beta of 0.72. The company has a current ratio of 1.60, a quick ratio of 1.11 and a debt-to-equity ratio of 0.32.

Abbott Laboratories (NYSE:ABTGet Free Report) last announced its quarterly earnings data on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.18%. The firm had revenue of $10.38 billion for the quarter, compared to analyst estimates of $10.37 billion. During the same quarter in the prior year, the business earned $1.08 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts anticipate that Abbott Laboratories will post 4.62 earnings per share for the current fiscal year.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a dividend of $0.55 per share. The ex-dividend date is Monday, July 15th. This represents a $2.20 annualized dividend and a dividend yield of 2.10%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ABT shares. Evercore ISI dropped their price objective on shares of Abbott Laboratories from $125.00 to $120.00 and set an outperform rating on the stock in a report on Tuesday, July 2nd. Citigroup decreased their target price on shares of Abbott Laboratories from $128.00 to $119.00 and set a buy rating for the company in a research report on Wednesday, May 22nd. Barclays decreased their target price on shares of Abbott Laboratories from $141.00 to $140.00 and set an overweight rating for the company in a research report on Monday, April 22nd. The Goldman Sachs Group assumed coverage on shares of Abbott Laboratories in a research report on Thursday, May 30th. They set a buy rating and a $121.00 target price for the company. Finally, Raymond James reissued a buy rating and set a $124.00 target price on shares of Abbott Laboratories in a research report on Wednesday, April 24th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Abbott Laboratories presently has a consensus rating of Moderate Buy and a consensus target price of $120.18.

Get Our Latest Research Report on Abbott Laboratories

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, EVP Lisa D. Earnhardt sold 22,852 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total value of $2,428,025.00. Following the transaction, the executive vice president now directly owns 61,462 shares in the company, valued at $6,530,337.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Abbott Laboratories news, EVP Jr. Robert E. Funck sold 10,097 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $104.57, for a total value of $1,055,843.29. Following the transaction, the executive vice president now directly owns 211,341 shares in the company, valued at $22,099,928.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa D. Earnhardt sold 22,852 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.25, for a total transaction of $2,428,025.00. Following the sale, the executive vice president now owns 61,462 shares in the company, valued at $6,530,337.50. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Abbott Laboratories Company Profile

(Get Free Report)

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.

Further Reading

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

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