$7.67 Billion in Sales Expected for Abbott Laboratories (ABT) This Quarter
Analysts expect Abbott Laboratories (NYSE:ABT) to report sales of $7.67 billion for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Abbott Laboratories’ earnings. The highest sales estimate is $7.71 billion and the lowest is $7.63 billion. Abbott Laboratories reported sales of $6.83 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 12.3%. The company is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, October 17th.
On average, analysts expect that Abbott Laboratories will report full year sales of $30.78 billion for the current year, with estimates ranging from $30.67 billion to $30.91 billion. For the next fiscal year, analysts expect that the company will report sales of $32.52 billion, with estimates ranging from $31.99 billion to $32.87 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, July 18th. The healthcare product maker reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.02. The firm had revenue of $7.77 billion for the quarter, compared to the consensus estimate of $7.71 billion. Abbott Laboratories had a return on equity of 15.30% and a net margin of 3.13%. The firm’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS.
Abbott Laboratories stock traded up $1.23 during mid-day trading on Monday, hitting $69.33. 10,345,615 shares of the company’s stock traded hands, compared to its average volume of 6,017,730. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.16. The company has a market capitalization of $128.70 billion, a P/E ratio of 27.73, a PEG ratio of 2.05 and a beta of 1.49. Abbott Laboratories has a one year low of $53.61 and a one year high of $74.15.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Friday, October 12th. Abbott Laboratories’s dividend payout ratio is presently 44.80%.
In other news, SVP Jaime Contreras sold 64,268 shares of the business’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $66.84, for a total value of $4,295,673.12. Following the sale, the senior vice president now owns 125,471 shares of the company’s stock, valued at approximately $8,386,481.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sharon J. Bracken sold 1,732 shares of the business’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $73.35, for a total value of $127,042.20. Following the completion of the sale, the senior vice president now directly owns 39,229 shares in the company, valued at approximately $2,877,447.15. The disclosure for this sale can be found here. Insiders sold a total of 155,321 shares of company stock worth $10,492,583 in the last three months. Company insiders own 0.74% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Private Capital Advisors Inc. grew its holdings in shares of Abbott Laboratories by 19.4% in the 3rd quarter. Private Capital Advisors Inc. now owns 31,350 shares of the healthcare product maker’s stock worth $1,673,000 after acquiring an additional 5,100 shares during the last quarter. Community Bank & Trust Waco Texas grew its holdings in shares of Abbott Laboratories by 2.8% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 38,583 shares of the healthcare product maker’s stock worth $2,830,000 after acquiring an additional 1,061 shares during the last quarter. Berkshire Asset Management LLC PA grew its holdings in shares of Abbott Laboratories by 4.4% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 288,197 shares of the healthcare product maker’s stock worth $21,142,000 after acquiring an additional 12,102 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Abbott Laboratories by 26.3% in the 3rd quarter. Bank of Montreal Can now owns 2,570,322 shares of the healthcare product maker’s stock worth $188,557,000 after acquiring an additional 535,939 shares during the last quarter. Finally, MAI Capital Management grew its holdings in shares of Abbott Laboratories by 0.3% in the 3rd quarter. MAI Capital Management now owns 259,466 shares of the healthcare product maker’s stock worth $19,034,000 after acquiring an additional 827 shares during the last quarter. 72.16% of the stock is currently owned by institutional investors.
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; Ménière'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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