Abbott Laboratories (NYSE:ABT) Updates FY21 Earnings Guidance

Abbott Laboratories (NYSE:ABT) issued an update on its FY21 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.30-4.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.36. Abbott Laboratories also updated its FY 2021 guidance to $4.300-$4.500 EPS.

ABT traded down $1.13 during midday trading on Thursday, reaching $117.85. 261,127 shares of the company’s stock were exchanged, compared to its average volume of 5,344,334. The company has a market cap of $209.40 billion, a price-to-earnings ratio of 37.30, a price-to-earnings-growth ratio of 2.33 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.75 and a debt-to-equity ratio of 0.52. Abbott Laboratories has a one year low of $98.00 and a one year high of $128.54. The company’s 50-day moving average is $114.72.

Abbott Laboratories (NYSE:ABT) last posted its earnings results on Thursday, July 22nd. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.15. Abbott Laboratories had a net margin of 15.33% and a return on equity of 24.02%. The company had revenue of $10.22 billion during the quarter, compared to analysts’ expectations of $9.67 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. Abbott Laboratories’s quarterly revenue was up 41.2% compared to the same quarter last year. Analysts predict that Abbott Laboratories will post 4.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 16th. Stockholders of record on Thursday, July 15th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend is Wednesday, July 14th. Abbott Laboratories’s dividend payout ratio (DPR) is currently 49.32%.

A number of research firms have recently issued reports on ABT. cut their target price on shares of Abbott Laboratories from $138.00 to $125.00 and set a buy rating for the company in a research note on Wednesday, June 2nd. Credit Suisse Group cut their target price on shares of Abbott Laboratories from $133.00 to $120.00 and set an outperform rating for the company in a research note on Wednesday, June 2nd. Barclays dropped their price objective on shares of Abbott Laboratories from $150.00 to $125.00 and set an overweight rating for the company in a research report on Wednesday, June 2nd. Citigroup restated a buy rating and issued a $125.00 price objective (down previously from $138.00) on shares of Abbott Laboratories in a research report on Wednesday, June 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Abbott Laboratories from $125.00 to $135.00 and gave the stock an overweight rating in a research report on Monday, July 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $123.22.

In other news, SVP Jared Watkin sold 94,576 shares of the business’s stock in a transaction on Friday, April 30th. The shares were sold at an average price of $119.90, for a total value of $11,339,662.40. Following the completion of the transaction, the senior vice president now owns 59,783 shares of the company’s stock, valued at approximately $7,167,981.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by insiders.

An institutional investor recently raised its position in Abbott Laboratories stock. Camden National Bank boosted its stake in Abbott Laboratories (NYSE:ABT) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,707 shares of the healthcare product maker’s stock after acquiring an additional 114 shares during the quarter. Camden National Bank’s holdings in Abbott Laboratories were worth $844,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 72.99% of the company’s stock.

Abbott Laboratories Company Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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