Equities analysts forecast that Abbott Laboratories (NYSE:ABT) will report sales of $7.76 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Abbott Laboratories’ earnings, with the lowest sales estimate coming in at $7.73 billion and the highest estimate coming in at $7.77 billion. Abbott Laboratories posted sales of $6.64 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 16.9%. The firm is scheduled to issue its next earnings results on Thursday, July 19th.
According to Zacks, analysts expect that Abbott Laboratories will report full-year sales of $31.08 billion for the current fiscal year, with estimates ranging from $30.91 billion to $31.20 billion. For the next financial year, analysts forecast that the company will post sales of $32.97 billion per share, with estimates ranging from $32.66 billion to $33.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover Abbott Laboratories.
Get Abbott Laboratories alerts:Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. The firm had revenue of $7.39 billion for the quarter, compared to analysts’ expectations of $7.28 billion. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.54%. Abbott Laboratories’s revenue was up 16.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 earnings per share.
A number of research analysts have weighed in on ABT shares. Bank of America lifted their price target on shares of Abbott Laboratories from $60.00 to $70.00 in a research report on Wednesday, January 24th. They noted that the move was a valuation call. William Blair raised shares of Abbott Laboratories from a “market perform” rating to an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus lifted their price target on shares of Abbott Laboratories from $63.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. BMO Capital Markets lifted their price target on shares of Abbott Laboratories from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Co lifted their price target on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $68.35.
Shares of Abbott Laboratories opened at $61.39 on Wednesday, Marketbeat.com reports. The company has a market cap of $108.19 billion, a price-to-earnings ratio of 24.56, a price-to-earnings-growth ratio of 1.77 and a beta of 1.50. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.66. Abbott Laboratories has a fifty-two week low of $43.40 and a fifty-two week high of $64.60.
In related news, insider Daniel Gesua Sive Salvadori sold 3,000 shares of Abbott Laboratories stock in a transaction on Friday, May 18th. The shares were sold at an average price of $61.20, for a total value of $183,600.00. Following the completion of the sale, the insider now owns 95,581 shares in the company, valued at $5,849,557.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Stephen R. Fussell sold 11,106 shares of Abbott Laboratories stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $60.13, for a total transaction of $667,803.78. Following the completion of the sale, the executive vice president now owns 172,158 shares of the company’s stock, valued at approximately $10,351,860.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,516 shares of company stock valued at $1,976,970. Insiders own 0.74% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Summit Trail Advisors LLC increased its stake in shares of Abbott Laboratories by 18.9% in the first quarter. Summit Trail Advisors LLC now owns 18,403 shares of the healthcare product maker’s stock worth $769,000 after buying an additional 2,923 shares during the last quarter. MEMBERS Trust Co increased its stake in shares of Abbott Laboratories by 37.8% in the first quarter. MEMBERS Trust Co now owns 8,333 shares of the healthcare product maker’s stock worth $499,000 after buying an additional 2,286 shares during the last quarter. Handelsbanken Fonder AB bought a new stake in shares of Abbott Laboratories in the first quarter worth $3,296,000. Wesbanco Bank Inc. increased its stake in shares of Abbott Laboratories by 201.5% in the first quarter. Wesbanco Bank Inc. now owns 162,561 shares of the healthcare product maker’s stock worth $9,741,000 after buying an additional 108,646 shares during the last quarter. Finally, CIBC World Markets Inc. increased its stake in shares of Abbott Laboratories by 591.0% in the first quarter. CIBC World Markets Inc. now owns 795,612 shares of the healthcare product maker’s stock worth $47,673,000 after buying an additional 680,467 shares during the last quarter. Institutional investors and hedge funds own 72.09% of the company’s stock.
About Abbott Laboratories
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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; M茅ni猫re's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.
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