Analysts Set Expectations for Abbott Laboratories’ Q2 2017 Earnings (ABT)
Abbott Laboratories (NYSE:ABT) – Analysts at William Blair boosted their Q2 2017 EPS estimates for Abbott Laboratories in a note issued to investors on Monday. William Blair analyst M. Kaczor now anticipates that the firm will earn $0.62 per share for the quarter, up from their prior estimate of $0.61. William Blair also issued estimates for Abbott Laboratories’ Q4 2017 earnings at $0.69 EPS.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Tuesday. Bank of America Corp. reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of Abbott Laboratories in a research report on Monday. Jefferies Group lowered their price objective on shares of Abbott Laboratories from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Tuesday, September 13th. Finally, TheStreet raised shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, August 22nd. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Abbott Laboratories has an average rating of “Buy” and an average target price of $47.02.
Abbott Laboratories (NYSE:ABT) opened at 41.92 on Tuesday. The firm has a market capitalization of $61.62 billion, a PE ratio of 27.67 and a beta of 0.82. The stock has a 50 day moving average of $43.17 and a 200-day moving average of $41.17. Abbott Laboratories has a one year low of $36.00 and a one year high of $46.38.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The company’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Williams Jones & Associates LLC raised its position in shares of Abbott Laboratories by 101.5% in the second quarter. Williams Jones & Associates LLC now owns 110,311 shares of the healthcare product maker’s stock worth $4,336,000 after buying an additional 55,572 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Abbott Laboratories during the second quarter worth approximately $2,332,000. Kentucky Retirement Systems acquired a new position in shares of Abbott Laboratories during the second quarter worth approximately $4,911,000. Northwestern Mutual Investment Management Company LLC raised its position in shares of Abbott Laboratories by 20.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 465,309 shares of the healthcare product maker’s stock worth $18,291,000 after buying an additional 79,895 shares during the period. Finally, Mason Street Advisors LLC acquired a new position in shares of Abbott Laboratories during the second quarter worth approximately $7,779,000. 73.03% of the stock is currently owned by institutional investors.
In other news, insider Stephen R. Fussell sold 41,500 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $45.00, for a total transaction of $1,867,500.00. Following the transaction, the insider now directly owns 196,467 shares of the company’s stock, valued at $8,841,015. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Hubert L. Allen sold 3,400 shares of the firm’s stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $37.14, for a total value of $126,276.00. Following the transaction, the executive vice president now directly owns 91,857 shares in the company, valued at $3,411,568.98. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is 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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