Abbott Laboratories (ABT) Releases FY19 Earnings Guidance
Abbott Laboratories (NYSE:ABT) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.15-3.25 for the period, compared to the Thomson Reuters consensus estimate of $3.20. Abbott Laboratories also updated its FY 2019 guidance to $3.15-3.25 EPS.
Shares of NYSE ABT opened at $71.49 on Wednesday. The stock has a market cap of $125.44 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 1.91 and a beta of 1.24. Abbott Laboratories has a 1 year low of $55.58 and a 1 year high of $74.92. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 0.62.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Wednesday, January 23rd. The healthcare product maker reported $0.81 earnings per share for the quarter, hitting the consensus estimate of $0.81. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The business had revenue of $7.77 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Abbott Laboratories will post 2.89 EPS for the current fiscal year.
Several research firms recently weighed in on ABT. JPMorgan Chase & Co. boosted their price target on shares of Abbott Laboratories from $77.00 to $81.00 and gave the stock an overweight rating in a report on Monday, October 8th. Credit Suisse Group began coverage on shares of Abbott Laboratories in a report on Monday, December 17th. They set an outperform rating and a $82.00 price target on the stock. Barclays began coverage on shares of Abbott Laboratories in a report on Monday, October 15th. They set an overweight rating and a $80.00 price target on the stock. BTIG Research restated a hold rating on shares of Abbott Laboratories in a report on Thursday, October 18th. Finally, Royal Bank of Canada boosted their price target on shares of Abbott Laboratories to $77.00 and gave the stock an outperform rating in a report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Abbott Laboratories has a consensus rating of Buy and a consensus target price of $76.86.
In other Abbott Laboratories news, Chairman Miles D. White sold 142,341 shares of the business’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $72.35, for a total value of $10,298,371.35. Following the transaction, the chairman now directly owns 3,459,185 shares in the company, valued at $250,272,034.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jared Watkin sold 65,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $71.00, for a total transaction of $4,615,000.00. Following the completion of the transaction, the insider now owns 128,640 shares in the company, valued at $9,133,440. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.
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.
Further Reading: Float
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.