Abbott Laboratories (NYSE:ABT) Issues Q3 2019 Earnings Guidance

Abbott Laboratories (NYSE:ABT) issued an update on its third quarter 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $0.83-0.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.85. Abbott Laboratories also updated its FY 2019 guidance to $3.21-3.27 EPS.

Abbott Laboratories stock opened at $87.76 on Friday. The firm’s 50 day simple moving average is $82.71. Abbott Laboratories has a 52 week low of $62.87 and a 52 week high of $87.84. The stock has a market cap of $151.30 billion, a PE ratio of 30.47, a P/E/G ratio of 2.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.13 and a current ratio of 1.58.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, July 17th. 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. Abbott Laboratories had a return on equity of 17.39% and a net margin of 9.36%. The firm had revenue of $7.98 billion for the quarter, compared to analysts’ expectations of $8 billion. During the same period last year, the business posted $0.73 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts forecast that Abbott Laboratories will post 3.22 EPS for the current year.

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

Several equities analysts recently issued reports on ABT shares. Cowen restated a buy rating and set a $184.00 price objective on shares of Union Pacific in a research note on Thursday. Morgan Stanley reduced their price objective on Neon Therapeutics from $19.00 to $13.00 and set an overweight rating on the stock in a research note on Tuesday. Royal Bank of Canada raised their price objective on Alimentation Couche-Tard from C$85.00 to C$88.00 and gave the stock an outperform rating in a research note on Monday, April 15th. William Blair restated an outperform rating on shares of Abbott Laboratories in a research note on Thursday, April 18th. Finally, Bank of America set a $10.00 price objective on HEXO and gave the stock a buy rating in a research note on Thursday, June 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $85.01.

In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 71,000 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $84.00, for a total value of $5,964,000.00. Following the sale, the executive vice president now directly owns 167,148 shares in the company, valued at $14,040,432. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hubert L. Allen sold 165,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $85.00, for a total value of $14,025,000.00. Following the completion of the sale, the insider now owns 311,010 shares in the company, valued at $26,435,850. The disclosure for this sale can be found here. Insiders sold 1,199,910 shares of company stock worth $93,837,075 over the last quarter. 0.70% of the stock is currently owned by company insiders.

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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