Abbott Laboratories (ABT) Scheduled to Post Earnings on Wednesday
Abbott Laboratories (NYSE:ABT) will be posting its Q316 quarterly earnings results on Wednesday, October 19th. Abbott Laboratories has set its FY16 guidance at $2.14-2.24 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.
Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, July 20th. The healthcare product maker reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Abbott Laboratories had a return on equity of 15.11% and a net margin of 11.08%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. On average, analysts expect Abbott Laboratories to post $2.2 EPS for the current fiscal year and $2.46 EPS for the next fiscal year.
Shares of Abbott Laboratories (NYSE:ABT) opened at 40.79 on Monday. The stock’s 50 day moving average price is $41.96 and its 200-day moving average price is $41.39. 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 $59.96 billion, a PE ratio of 26.92 and a beta of 0.87.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $1.04 annualized dividend and a yield of 2.55%. Abbott Laboratories’s payout ratio is 68.87%.
Several equities research analysts recently weighed in on ABT shares. Edward Jones raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, June 21st. Zacks Investment Research raised 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 reissued an “overweight” rating and issued a $48.00 target price on shares of Abbott Laboratories in a research note on Tuesday, July 12th. Jefferies Group increased their target price on Abbott Laboratories from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, July 14th. Finally, Argus reissued a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday, July 28th. Seven investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Abbott Laboratories has an average rating of “Buy” and a consensus price target of $47.02.
In other Abbott Laboratories news, insider Michael J. Warmuth sold 26,800 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $43.49, for a total transaction of $1,165,532.00. Following the completion of the transaction, the insider now owns 81,811 shares in the company, valued at approximately $3,557,960.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Daniel Gesua Sive Salvadori sold 815 shares of the firm’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 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. Corporate insiders own 0.26% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in ABT. Calvert Investment Management Inc. boosted its position in Abbott Laboratories by 3.6% in the second quarter. Calvert Investment Management Inc. now owns 90,452 shares of the healthcare product maker’s stock valued at $3,556,000 after buying an additional 3,145 shares in the last quarter. Bellwether Investment Group LLC purchased a new position in Abbott Laboratories during the second quarter valued at $145,000. M Holdings Securities Inc. purchased a new position in Abbott Laboratories during the second quarter valued at $464,000. Sterneck Capital Management LLC purchased a new position in Abbott Laboratories during the second quarter valued at $2,323,000. Finally, Madison Investment Holdings Inc. purchased a new position in Abbott Laboratories during the second quarter valued at $579,000. Institutional investors and hedge funds own 73.03% of the company’s stock.
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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