Abbott Laboratories (NYSE:ABT – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 4.640-4.700 for the period, compared to the consensus EPS estimate of 4.660. The company issued revenue guidance of -. Abbott Laboratories also updated its Q4 guidance to $1.31-1.37 EPS.
Abbott Laboratories Trading Up 1.5 %
ABT opened at $117.82 on Thursday. The firm has a market capitalization of $204.96 billion, a price-to-earnings ratio of 36.70, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company’s 50 day simple moving average is $113.60 and its two-hundred day simple moving average is $108.40. Abbott Laboratories has a 1-year low of $91.25 and a 1-year high of $121.64. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.68 and a quick ratio of 1.18.
Abbott Laboratories (NYSE:ABT – Get Free Report) last issued its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. The company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. Abbott Laboratories had a return on equity of 20.18% and a net margin of 13.65%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. Analysts expect that Abbott Laboratories will post 4.66 EPS for the current fiscal year.
Abbott Laboratories Dividend Announcement
Analysts Set New Price Targets
ABT has been the topic of several recent analyst reports. Oppenheimer assumed coverage on Abbott Laboratories in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $130.00 price target on the stock. Raymond James reissued a “buy” rating and issued a $129.00 price target (up from $122.00) on shares of Abbott Laboratories in a research note on Monday. Piper Sandler Companies started coverage on shares of Abbott Laboratories in a research report on Thursday, September 19th. They set an “overweight” rating and a $131.00 price objective for the company. Edward Jones cut Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $120.00 price objective on shares of Abbott Laboratories in a report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.54.
Get Our Latest Analysis on ABT
Insider Activity
In related news, CEO Robert B. Ford sold 141,679 shares of the business’s stock in a transaction on 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 directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.
Featured Stories
- Five stocks we like better than Abbott Laboratories
- Investing In Automotive Stocks
- Why Alphabet Could Rally 30% Before Christmas
- What is a Stock Market Index and How Do You Use Them?
- J.B. Hunt Stock on the Move: Analysts Forecast Big Gains Ahead
- Insider Trades May Not Tell You What You Think
- Top 3 ETFs Dominating the Market With Huge Trading Volumes
Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.