Abbott Laboratories (NYSE:ABT) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.40-2.50 for the period, compared to the Thomson Reuters consensus estimate of $2.42. Abbott Laboratories also updated its Q1 guidance to $0.42-0.44 EPS.
Several brokerages recently issued reports on ABT. Zacks Investment Research upgraded Abbott Laboratories from a hold rating to a buy rating and set a $46.00 price objective on the stock in a research note on Tuesday, January 10th. Jefferies Group LLC raised their price objective on Abbott Laboratories from $47.00 to $48.00 and gave the stock a buy rating in a research note on Friday, January 20th. Finally, TheStreet cut Abbott Laboratories from a buy rating to a hold rating in a research note on Friday, December 2nd. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Abbott Laboratories currently has a consensus rating of Buy and an average price target of $46.50.
Abbott Laboratories (NYSE:ABT) opened at 40.31 on Wednesday. Abbott Laboratories has a one year low of $36.00 and a one year high of $45.79. The firm has a market capitalization of $59.35 billion, a price-to-earnings ratio of 44.01 and a beta of 0.92. The stock’s 50 day moving average price is $39.43 and its 200-day moving average price is $41.20.
Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Wednesday, January 25th. The healthcare product maker reported $0.65 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.65. The business had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.41 billion. Abbott Laboratories had a return on equity of 15.46% and a net margin of 6.61%. Abbott Laboratories’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.62 earnings per share. On average, equities research analysts anticipate that Abbott Laboratories will post $2.20 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Wednesday, January 11th. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.26. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.63%. Abbott Laboratories’s payout ratio is currently 116.48%.
In other news, Director Sally E. Blount acquired 5,100 shares of the stock in a transaction dated Tuesday, November 1st. The shares were acquired at an average cost of $39.24 per share, for a total transaction of $200,124.00. Following the completion of the transaction, the director now owns 20,143 shares in the company, valued at approximately $790,411.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Miles D. White acquired 121,456 shares of the stock in a transaction dated Thursday, November 10th. The shares were purchased at an average price of $40.45 per share, for a total transaction of $4,912,895.20. Following the completion of the transaction, the chairman now owns 2,802,558 shares of the company’s stock, valued at approximately $113,363,471.10. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 154,911 shares of company stock worth $6,211,445. 0.26% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Krilogy Financial LLC boosted its stake in Abbott Laboratories by 9.3% in the second quarter. Krilogy Financial LLC now owns 2,685 shares of the healthcare product maker’s stock worth $106,000 after buying an additional 229 shares in the last quarter. Perceptive Advisors LLC purchased a new stake in Abbott Laboratories during the second quarter worth about $120,000. Bellwether Investment Group LLC purchased a new stake in Abbott Laboratories during the second quarter worth about $145,000. Tuttle Tactical Management LLC purchased a new stake in Abbott Laboratories during the third quarter worth about $167,000. Finally, Parasol Investment Management LLC boosted its stake in Abbott Laboratories by 58.9% in the third quarter. Parasol Investment Management LLC now owns 4,085 shares of the healthcare product maker’s stock worth $173,000 after buying an additional 1,515 shares in the last quarter. Institutional investors and hedge funds own 62.51% 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.