Abbott Laboratories (ABT) Issues FY19 Earnings Guidance

Abbott Laboratories (NYSE:ABT) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided EPS guidance of $3.15-3.25 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.21. Abbott Laboratories also updated its FY 2019 guidance to $3.15-3.25 EPS.

Shares of ABT stock opened at $76.38 on Wednesday. The stock has a market capitalization of $136.13 billion, a PE ratio of 26.52, a PEG ratio of 2.08 and a beta of 1.13. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 1.20. Abbott Laboratories has a one year low of $56.81 and a one year high of $80.74.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.55%. The business had revenue of $7.54 billion during the quarter, compared to the consensus estimate of $7.49 billion. During the same quarter last year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts anticipate that Abbott Laboratories will post 3.2 earnings per share for the current fiscal year.

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

A number of research firms have recently commented on ABT. Citigroup lowered shares of Abbott Laboratories from a neutral rating to a sell rating and cut their price objective for the company from $72.00 to $68.00 in a research report on Wednesday, January 2nd. Morgan Stanley raised their price objective on shares of Abbott Laboratories from $82.00 to $85.00 and gave the company an overweight rating in a research report on Wednesday, January 2nd. Gabelli restated a buy rating on shares of Abbott Laboratories in a research report on Wednesday, January 2nd. BTIG Research restated a hold rating on shares of Abbott Laboratories in a research report on Thursday, January 24th. Finally, Argus raised their price objective on shares of Abbott Laboratories to $90.00 and gave the company an in-line rating in a research report on Friday, January 25th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the stock. Abbott Laboratories has a consensus rating of Buy and a consensus target price of $80.48.

In other Abbott Laboratories news, SVP Jared Watkin sold 1,391 shares of Abbott Laboratories stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $78.00, for a total transaction of $108,498.00. Following the completion of the sale, the senior vice president now directly owns 75,926 shares in the company, valued at $5,922,228. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph J. Manning sold 5,613 shares of Abbott Laboratories stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $79.58, for a total transaction of $446,682.54. Following the sale, the insider now owns 56,029 shares of the company’s stock, valued at $4,458,787.82. The disclosure for this sale can be found here. Insiders sold 280,021 shares of company stock valued at $20,485,856 over the last 90 days. 0.70% of the stock is owned by company insiders.

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About Abbott Laboratories

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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