Abbott Laboratories (NYSE:ABT) Issues FY21 Earnings Guidance
Abbott Laboratories (NYSE:ABT) issued an update on its FY21 earnings guidance on Tuesday morning. The company provided EPS guidance of at least $5.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.05. Abbott Laboratories also updated its FY 2021
Pre-Market guidance to 5.00 EPS.
Abbott Laboratories stock opened at $120.00 on Wednesday. Abbott Laboratories has a 12-month low of $86.16 and a 12-month high of $128.54. The stock has a market capitalization of $212.58 billion, a P/E ratio of 63.49, a P/E/G ratio of 2.06 and a beta of 0.83. The firm’s 50-day moving average is $119.85 and its two-hundred day moving average is $114.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.19.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Monday, April 19th. The healthcare product maker reported $1.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.05. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The company had revenue of $10.45 billion for the quarter, compared to analysts’ expectations of $10.72 billion. During the same period last year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 35.2% compared to the same quarter last year. As a group, analysts forecast that Abbott Laboratories will post 3.57 EPS for the current year.
Several research analysts have recently weighed in on ABT shares. Credit Suisse Group increased their price objective on shares of Abbott Laboratories from $118.00 to $130.00 and gave the stock an outperform rating in a report on Thursday, January 28th. Zacks Investment Research upgraded shares of Abbott Laboratories from a hold rating to a buy rating and set a $130.00 price target on the stock in a report on Tuesday, February 2nd. BTIG Research upgraded shares of Abbott Laboratories from a neutral rating to a buy rating and set a $140.00 price target on the stock in a report on Thursday, January 28th. Morgan Stanley raised their price target on shares of Abbott Laboratories from $126.00 to $136.00 and gave the company an overweight rating in a report on Thursday, January 28th. Finally, Raymond James lifted their price objective on shares of Abbott Laboratories from $126.00 to $130.00 and gave the company an outperform rating in a research note on Wednesday, March 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $125.82.
In other news, EVP Mary K. Moreland sold 505 shares of the business’s stock in a transaction on Tuesday, February 16th. The shares were sold at an average price of $128.49, for a total transaction of $64,887.45. Following the completion of the transaction, the executive vice president now owns 63,878 shares of the company’s stock, valued at $8,207,684.22. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Joseph J. Manning sold 18,750 shares of the business’s stock in a transaction on Monday, February 1st. The shares were sold at an average price of $122.79, for a total transaction of $2,302,312.50. Following the transaction, the senior vice president now directly owns 81,561 shares of the company’s stock, valued at approximately $10,014,875.19. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,476 shares of company stock valued at $3,366,543. 1.70% of the stock is currently owned by corporate insiders.
Abbott Laboratories Company Profile
Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Established Pharmaceutical Products segment provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, MÃ©niÃ¨re's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
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