$8.10 Billion in Sales Expected for Abbott Laboratories (NYSE:ABT) This Quarter

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Equities research analysts expect that Abbott Laboratories (NYSE:ABT) will announce $8.10 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Abbott Laboratories’ earnings, with the lowest sales estimate coming in at $8.07 billion and the highest estimate coming in at $8.13 billion. Abbott Laboratories reported sales of $7.66 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The company is expected to issue its next earnings results on Wednesday, October 16th.

On average, analysts expect that Abbott Laboratories will report full year sales of $31.93 billion for the current fiscal year, with estimates ranging from $31.87 billion to $32.02 billion. For the next year, analysts forecast that the company will report sales of $34.18 billion, with estimates ranging from $33.91 billion to $34.43 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Abbott Laboratories.

Abbott Laboratories (NYSE:ABT) last issued its quarterly earnings data on Wednesday, July 17th. The healthcare product maker reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.02. The firm had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8 billion. Abbott Laboratories had a return on equity of 17.26% and a net margin of 9.36%. Abbott Laboratories’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 earnings per share.

Several brokerages recently issued reports on ABT. Raymond James lifted their price objective on Abbott Laboratories from $87.00 to $93.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. BMO Capital Markets lifted their price objective on Abbott Laboratories from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Morgan Stanley lifted their price objective on Abbott Laboratories from $85.00 to $93.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Cowen lifted their price objective on Abbott Laboratories from $86.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Zacks Investment Research cut Abbott Laboratories from a “buy” rating to a “hold” rating and set a $93.00 price objective for the company. in a report on Wednesday, August 21st. One equities research 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 stock currently has an average rating of “Buy” and a consensus target price of $86.38.

In related news, insider Hubert L. Allen sold 165,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $85.00, for a total value of $14,025,000.00. Following the completion of the transaction, the insider now directly owns 311,010 shares in the company, valued at $26,435,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph J. Manning sold 47,226 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $85.14, for a total value of $4,020,821.64. Following the completion of the transaction, the senior vice president now owns 97,755 shares of the company’s stock, valued at $8,322,860.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 464,397 shares of company stock valued at $39,677,310. Insiders own 0.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its holdings in Abbott Laboratories by 3.8% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 3,176 shares of the healthcare product maker’s stock valued at $267,000 after purchasing an additional 116 shares during the last quarter. MCF Advisors LLC boosted its holdings in Abbott Laboratories by 4.1% in the second quarter. MCF Advisors LLC now owns 2,972 shares of the healthcare product maker’s stock valued at $250,000 after purchasing an additional 118 shares during the last quarter. Institute for Wealth Management LLC. raised its stake in Abbott Laboratories by 2.3% during the second quarter. Institute for Wealth Management LLC. now owns 5,379 shares of the healthcare product maker’s stock valued at $452,000 after buying an additional 122 shares in the last quarter. M&R Capital Management Inc. raised its stake in Abbott Laboratories by 0.5% during the second quarter. M&R Capital Management Inc. now owns 26,084 shares of the healthcare product maker’s stock valued at $2,193,000 after buying an additional 126 shares in the last quarter. Finally, Advantage Investment Management LLC raised its stake in Abbott Laboratories by 4.6% during the second quarter. Advantage Investment Management LLC now owns 2,906 shares of the healthcare product maker’s stock valued at $244,000 after buying an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 73.72% of the company’s stock.

Shares of ABT stock opened at $83.52 on Thursday. The stock has a fifty day moving average price of $85.02 and a 200 day moving average price of $81.23. The stock has a market cap of $148.94 billion, a PE ratio of 29.00, a P/E/G ratio of 2.37 and a beta of 1.14. Abbott Laboratories has a 1 year low of $65.44 and a 1 year high of $88.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.20 and a current ratio of 1.68.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.53%. Abbott Laboratories’s dividend payout ratio (DPR) is 44.44%.

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.

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