Abbott Laboratories (NYSE:ABT) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.64-0.66 for the period, compared to the Thomson Reuters consensus estimate of $0.66. Abbott Laboratories also updated its FY17 guidance to $2.43-2.53 EPS.

Shares of Abbott Laboratories (ABT) traded up 2.87% during mid-day trading on Thursday, hitting $50.85. The company had a trading volume of 12,276,175 shares. Abbott Laboratories has a one year low of $37.38 and a one year high of $51.13. The firm’s 50-day moving average price is $48.03 and its 200 day moving average price is $44.63. The company has a market capitalization of $88.24 billion, a P/E ratio of 52.91 and a beta of 1.07.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Thursday, July 20th. The healthcare product maker reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $6.64 billion during the quarter, compared to analyst estimates of $6.63 billion. Abbott Laboratories had a net margin of 6.74% and a return on equity of 14.91%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.55 EPS. Analysts predict that Abbott Laboratories will post $2.47 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Wednesday, July 12th. Abbott Laboratories’s payout ratio is presently 110.42%.

A number of equities analysts recently weighed in on ABT shares. TheStreet raised shares of Abbott Laboratories from a c+ rating to a b rating in a research note on Monday, July 3rd. Royal Bank Of Canada reaffirmed a buy rating on shares of Abbott Laboratories in a research note on Monday, May 15th. Jefferies Group LLC reaffirmed a buy rating and issued a $51.00 target price (up from $50.00) on shares of Abbott Laboratories in a research note on Friday, May 12th. Stifel Nicolaus reaffirmed a buy rating and issued a $49.00 target price on shares of Abbott Laboratories in a research note on Tuesday, April 18th. Finally, Cowen and Company reaffirmed a buy rating and issued a $48.00 target price on shares of Abbott Laboratories in a research note on Thursday, April 13th. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $51.33.

In other news, insider Roger Bird sold 5,600 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $43.82, for a total value of $245,392.00. Following the sale, the insider now directly owns 51,313 shares of the company’s stock, valued at approximately $2,248,535.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $46.00, for a total transaction of $9,041,300.00. Following the completion of the sale, the insider now directly owns 221,488 shares in the company, valued at $10,188,448. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 206,902 shares of company stock worth $9,497,761. 0.76% of the stock is owned by insiders.

ILLEGAL ACTIVITY WARNING: “Abbott Laboratories (ABT) Releases Q3 Earnings Guidance” was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this news story on another site, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/07/20/abbott-laboratories-abt-releases-q3-earnings-guidance.html.

Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

Earnings History and Estimates for Abbott Laboratories (NYSE:ABT)

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.