Abbott Laboratories (NYSE:ABT) – Equities research analysts at Jefferies Group decreased their FY2017 earnings per share (EPS) estimates for Abbott Laboratories in a note issued to investors on Thursday. Jefferies Group analyst J. Holford now anticipates that the firm will post earnings per share of $2.51 for the year, down from their previous forecast of $2.56. Jefferies Group has a “Buy” rating and a $48.00 price target on the stock. Jefferies Group also issued estimates for Abbott Laboratories’ FY2018 earnings at $2.83 EPS, FY2019 earnings at $3.16 EPS and FY2020 earnings at $3.51 EPS.
Several other analysts have also issued reports on ABT. Edward Jones upgraded Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, June 21st. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, July 5th. Barclays PLC restated an “overweight” rating and issued a $48.00 target price on shares of Abbott Laboratories in a research note on Tuesday, July 12th. Argus restated a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday, July 28th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Abbott Laboratories in a research note on Tuesday, August 9th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $47.02.
Abbott Laboratories (NYSE:ABT) traded up 1.43% during midday trading on Monday, reaching $41.17. 7,276,702 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $41.89 and its 200-day moving average price is $41.37. Abbott Laboratories has a 1-year low of $36.00 and a 1-year high of $46.38. The company has a market capitalization of $60.52 billion, a PE ratio of 27.17 and a beta of 0.87.
Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parasol Investment Management LLC raised its position in Abbott Laboratories by 30.5% in the second quarter. Parasol Investment Management LLC now owns 2,570 shares of the healthcare product maker’s stock worth $101,000 after buying an additional 600 shares during the last quarter. Krilogy Financial LLC raised its position in Abbott Laboratories by 9.3% in the second quarter. Krilogy Financial LLC now owns 2,685 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 229 shares during the last quarter. SeaBridge Investment Advisors LLC raised its position in shares of Abbott Laboratories by 10.6% in the second quarter. SeaBridge Investment Advisors LLC now owns 2,875 shares of the healthcare product maker’s stock valued at $113,000 after buying an additional 275 shares in the last quarter. Perceptive Advisors LLC purchased a new position in shares of Abbott Laboratories during the second quarter valued at about $120,000. Finally, CapWealth Advisors LLC raised its position in shares of Abbott Laboratories by 15.2% in the first quarter. CapWealth Advisors LLC now owns 3,038 shares of the healthcare product maker’s stock valued at $127,000 after buying an additional 400 shares in the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.
In other Abbott Laboratories news, Chairman Miles D. White purchased 242,547 shares of the stock in a transaction on Monday, July 25th. The stock was acquired at an average price of $43.18 per share, with a total value of $10,473,179.46. Following the transaction, the chairman now directly owns 2,010,517 shares of the company’s stock, valued at approximately $86,814,124.06. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Daniel Gesua Sive Salvadori sold 815 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $41.71, for a total value of $33,993.65. Following the transaction, the senior vice president now directly owns 59,791 shares of the company’s stock, valued at approximately $2,493,882.61. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 68.87%.
Abbott Laboratories Company Profile
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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