Abbott Laboratories (NYSE:ABT) Updates FY19 Earnings Guidance

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

Several equities analysts have commented on ABT shares. Zacks Investment Research raised Abbott Laboratories from a hold rating to a buy rating and set a $88.00 price target for the company in a report on Tuesday, March 19th. Wells Fargo & Co reissued a buy rating on shares of Abbott Laboratories in a report on Thursday, March 14th. Royal Bank of Canada increased their target price on Abbott Laboratories to $82.00 and gave the stock a buy rating in a report on Monday, April 15th. 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 report on Friday, March 8th. Finally, William Blair reissued an outperform rating on shares of Abbott Laboratories in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $80.48.

ABT stock traded up $0.20 during midday trading on Thursday, reaching $76.42. 3,185,960 shares of the company’s stock traded hands, compared to its average volume of 6,052,473. Abbott Laboratories has a 1-year low of $59.36 and a 1-year high of $80.74. The stock has a market capitalization of $138.82 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 2.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.13.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.02. Abbott Laboratories had a return on equity of 16.86% and a net margin of 8.53%. The firm had revenue of $7.54 billion during the quarter, compared to analysts’ expectations of $7.49 billion. During the same period last year, the firm posted $0.59 EPS. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts expect that Abbott Laboratories will post 3.22 earnings per share for the current fiscal year.

The firm also recently declared 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 1.67%. Abbott Laboratories’s dividend payout ratio is 44.44%.

In other news, insider Joseph J. Manning sold 5,613 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $79.58, for a total value of $446,682.54. Following the transaction, the insider now directly owns 56,029 shares in the company, valued at approximately $4,458,787.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian B. Yoor sold 2,246 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $78.00, for a total value of $175,188.00. Following the completion of the transaction, the chief financial officer now owns 116,627 shares in the company, valued at $9,096,906. The disclosure for this sale can be found here. Insiders sold a total of 551,643 shares of company stock worth $42,471,501 over the last quarter. Corporate insiders own 0.70% of the company’s stock.

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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.

Further Reading: Institutional Investors

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

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