Abbott Laboratories (NYSE:ABT – Get Rating) updated its FY22 earnings guidance on Wednesday. The company provided earnings per share guidance of $5.17-5.23 for the period, compared to the consensus earnings per share estimate of $5.04.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on ABT shares. Cowen decreased their target price on Abbott Laboratories from $150.00 to $130.00 in a research report on Wednesday, July 13th. Jefferies Financial Group started coverage on Abbott Laboratories in a report on Wednesday, October 12th. They set a hold rating and a $110.00 target price on the stock. StockNews.com began coverage on Abbott Laboratories in a report on Wednesday, October 12th. They set a strong-buy rating on the stock. Wolfe Research began coverage on Abbott Laboratories in a research report on Tuesday, July 5th. They set an underperform rating on the stock. Finally, UBS Group dropped their price target on Abbott Laboratories from $142.00 to $128.00 and set a buy rating on the stock in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $128.82.
Abbott Laboratories Stock Performance
Shares of NYSE ABT opened at $104.98 on Wednesday. The stock has a fifty day moving average price of $104.17 and a two-hundred day moving average price of $109.29. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.54 and a current ratio of 2.01. The firm has a market cap of $183.84 billion, a P/E ratio of 21.92, a PEG ratio of 3.82 and a beta of 0.71. Abbott Laboratories has a 1 year low of $96.67 and a 1 year high of $142.60.
Abbott Laboratories (NYSE:ABT – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.34. The firm had revenue of $11.26 billion during the quarter, compared to analyst estimates of $10.37 billion. Abbott Laboratories had a return on equity of 29.38% and a net margin of 18.78%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted $1.17 EPS. Research analysts forecast that Abbott Laboratories will post 5 EPS for the current fiscal year.
Abbott Laboratories Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, October 13th. Abbott Laboratories’s payout ratio is currently 39.25%.
Insider Transactions at Abbott Laboratories
In other news, CEO Robert B. Ford sold 102,425 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.10, for a total transaction of $10,764,867.50. Following the completion of the sale, the chief executive officer now directly owns 142,071 shares of the company’s stock, valued at approximately $14,931,662.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Fernando Mateus sold 2,457 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.05, for a total transaction of $267,935.85. Following the completion of the sale, the senior vice president now directly owns 14,503 shares of the company’s stock, valued at approximately $1,581,552.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert B. Ford sold 102,425 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $105.10, for a total value of $10,764,867.50. Following the completion of the sale, the chief executive officer now directly owns 142,071 shares of the company’s stock, valued at approximately $14,931,662.10. The disclosure for this sale can be found here. Insiders sold a total of 204,788 shares of company stock valued at $21,776,756 in the last three months. 0.52% of the stock is currently owned by corporate insiders.
Institutional Trading of Abbott Laboratories
Several hedge funds and other institutional investors have recently modified their holdings of ABT. Fairfield Bush & CO. acquired a new stake in shares of Abbott Laboratories in the first quarter worth $131,000. United Bank raised its holdings in shares of Abbott Laboratories by 7.2% during the first quarter. United Bank now owns 27,280 shares of the healthcare product maker’s stock worth $3,229,000 after acquiring an additional 1,826 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Abbott Laboratories by 1.9% during the first quarter. Mackenzie Financial Corp now owns 813,253 shares of the healthcare product maker’s stock worth $96,257,000 after acquiring an additional 15,521 shares in the last quarter. Kinneret Advisory LLC raised its holdings in shares of Abbott Laboratories by 2.3% during the first quarter. Kinneret Advisory LLC now owns 19,467 shares of the healthcare product maker’s stock worth $2,304,000 after acquiring an additional 436 shares in the last quarter. Finally, Lumature Wealth Partners LLC raised its holdings in shares of Abbott Laboratories by 636.2% during the first quarter. Lumature Wealth Partners LLC now owns 2,216 shares of the healthcare product maker’s stock worth $262,000 after acquiring an additional 1,915 shares in the last quarter. Institutional investors and hedge funds own 73.03% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories, together with its subsidiaries, 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, Ménière’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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Abbott Laboratories, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Abbott Laboratories wasn’t on the list.
While Abbott Laboratories currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Techyrack Website stock market day trading and youtube monetization and adsense Approval
Adsense Arbitrage website traffic Get Adsense Approval Google Adsense Earnings Traffic Arbitrage YouTube Monetization YouTube Monetization, Watchtime and Subscribers Ready Monetized Autoblog
from NYSE Updates – My Blog https://ift.tt/UILJZTN
via IFTTT
No comments:
Post a Comment