Abbott Laboratories (ABT) Announces Earnings Results, Beats Expectations By $0.02 EPS

Abbott Laboratories (NYSE:ABT) released its quarterly earnings results on Wednesday. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02, RTT News reports. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.55%. The company had revenue of $7.54 billion during the quarter, compared to analysts’ expectations of $7.49 billion. During the same period in the prior year, the company earned $0.59 earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year.

ABT opened at $76.38 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 0.63. Abbott Laboratories has a 12 month low of $56.81 and a 12 month high of $80.74. The firm has a market capitalization of $136.13 billion, a P/E ratio of 26.52, a P/E/G ratio of 2.08 and a beta of 1.13.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Monday, April 15th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.

In other Abbott Laboratories news, insider Jaime Contreras sold 177,457 shares of the business’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total transaction of $12,421,990.00. Following the sale, the insider now directly owns 100,985 shares of the company’s stock, valued at approximately $7,068,950. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian B. Yoor sold 2,246 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $78.00, for a total transaction of $175,188.00. Following the sale, the chief financial officer now directly owns 116,627 shares in the company, valued at $9,096,906. The disclosure for this sale can be found here. Insiders have sold a total of 280,021 shares of company stock worth $20,485,856 over the last three months. Insiders own 0.70% of the company’s stock.

A number of research firms recently weighed in on ABT. Royal Bank of Canada lifted their target price on Abbott Laboratories to $82.00 and gave the stock a “buy” rating in a research report on Monday. They noted that the move was a valuation call. Barclays set a $84.00 target price on Abbott Laboratories and gave the stock a “buy” rating in a research report on Friday, March 8th. Argus lifted their target price on Abbott Laboratories to $90.00 and gave the stock an “in-line” rating in a research report on Friday, January 25th. They noted that the move was a valuation call. BTIG Research reiterated a “hold” rating on shares of Abbott Laboratories in a research note on Thursday, January 24th. Finally, Gabelli reiterated a “buy” rating on shares of Abbott Laboratories in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $80.48.

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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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