Abbott Laboratories (ABT) Releases FY 2019 Earnings Guidance

Abbott Laboratories (NYSE:ABT) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.15-3.25 for the period, compared to the Thomson Reuters consensus estimate of $3.21. Abbott Laboratories also updated its Q2 2019 guidance to $0.79-0.81 EPS.

Shares of ABT opened at $76.38 on Wednesday. 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 1-year low of $56.81 and a 1-year high of $80.74. The company has a market cap of $136.13 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 2.08 and a beta of 1.13.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.81. The business had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.82 billion. Abbott Laboratories had a net margin of 7.74% and a return on equity of 16.55%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.74 EPS. As a group, sell-side analysts expect that Abbott Laboratories will post 3.2 earnings per share for the current fiscal year.

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

Several analysts have commented on ABT shares. Citigroup cut shares of Abbott Laboratories from a neutral rating to a sell rating and lowered their target price for the stock from $72.00 to $68.00 in a research note on Wednesday, January 2nd. Zacks Investment Research cut shares of Abbott Laboratories from a buy rating to a hold rating in a research note on Tuesday, March 5th. Bank of America reaffirmed a buy rating and issued a $81.00 target price (up from $73.00) on shares of Abbott Laboratories in a research note on Thursday, February 7th. Wells Fargo & Co reaffirmed a buy rating on shares of Abbott Laboratories in a research note on Thursday, March 14th. Finally, Morgan Stanley lifted their target price on shares of Abbott Laboratories from $82.00 to $85.00 and gave the stock an overweight rating in a research note on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $80.48.

In other Abbott Laboratories news, insider Jaime Contreras sold 177,457 shares of the company’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $70.00, for a total value of $12,421,990.00. Following the completion of the transaction, the insider now owns 100,985 shares in the company, valued at approximately $7,068,950. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph J. Manning sold 1,223 shares of the company’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 $95,394.00. Following the completion of the transaction, the insider now owns 61,324 shares of the company’s stock, valued at approximately $4,783,272. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 280,021 shares of company stock valued at $20,485,856. 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.

See Also: Ex-Dividend

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

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