Abbott Laboratories (NYSE:ABT) Releases FY22 Earnings Guidance

Abbott Laboratories (NYSE:ABTGet Rating) updated its FY22 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of at least $4.70 for the period, compared to the Thomson Reuters consensus estimate of $4.84. Abbott Laboratories also updated its FY 2022 guidance to $4.700-$ EPS.

Several analysts recently issued reports on the stock. BTIG Research decreased their price objective on shares of Abbott Laboratories from $143.00 to $138.00 in a report on Wednesday, January 26th. Cowen upped their target price on shares of Abbott Laboratories from $140.00 to $150.00 in a research note on Monday, January 10th. StockNews.com started coverage on shares of Abbott Laboratories in a research note on Thursday, March 31st. They set a strong-buy rating for the company. Wells Fargo & Company cut their target price on shares of Abbott Laboratories from $155.00 to $150.00 and set an overweight rating for the company in a research note on Friday, April 8th. Finally, Credit Suisse Group upped their target price on shares of Abbott Laboratories from $138.00 to $139.00 and gave the company an outperform rating in a research note on Thursday, January 27th. Three investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Abbott Laboratories has a consensus rating of Buy and an average price target of $139.52.

Shares of Abbott Laboratories stock opened at $119.98 on Wednesday. The stock has a market capitalization of $211.58 billion, a P/E ratio of 30.45, a price-to-earnings-growth ratio of 3.17 and a beta of 0.74. The company has a quick ratio of 1.46, a current ratio of 1.85 and a debt-to-equity ratio of 0.48. The company has a 50-day simple moving average of $119.75 and a 200 day simple moving average of $125.49. Abbott Laboratories has a 12-month low of $105.36 and a 12-month high of $142.60.

Abbott Laboratories (NYSE:ABTGet Rating) last announced its earnings results on Wednesday, April 20th. The healthcare product maker reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.26. The business had revenue of $11.90 billion during the quarter, compared to analysts’ expectations of $11 billion. Abbott Laboratories had a net margin of 16.42% and a return on equity of 27.06%. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter last year, the company posted $1.32 EPS. On average, equities analysts anticipate that Abbott Laboratories will post 4.78 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 15th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date is Wednesday, April 13th. Abbott Laboratories’s dividend payout ratio is currently 47.72%.

In other news, SVP Julie L. Tyler sold 462 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $119.29, for a total value of $55,111.98. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mary K. Moreland sold 400 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $119.31, for a total transaction of $47,724.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,896 shares of company stock worth $926,454. Insiders own 0.52% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of ABT. Morgan Stanley raised its position in shares of Abbott Laboratories by 4.5% in the 2nd quarter. Morgan Stanley now owns 28,562,141 shares of the healthcare product maker’s stock valued at $3,311,209,000 after acquiring an additional 1,233,152 shares during the period. Vident Investment Advisory LLC raised its holdings in Abbott Laboratories by 33.0% during the 4th quarter. Vident Investment Advisory LLC now owns 26,462 shares of the healthcare product maker’s stock worth $3,725,000 after buying an additional 6,563 shares during the period. Toroso Investments LLC raised its holdings in Abbott Laboratories by 7.4% during the 4th quarter. Toroso Investments LLC now owns 41,685 shares of the healthcare product maker’s stock worth $5,867,000 after buying an additional 2,886 shares during the period. Paradigm Financial Partners LLC acquired a new stake in Abbott Laboratories during the 4th quarter worth approximately $221,000. Finally, Heritage Wealth Advisors raised its holdings in Abbott Laboratories by 8.2% during the 4th quarter. Heritage Wealth Advisors now owns 7,893 shares of the healthcare product maker’s stock worth $1,111,000 after buying an additional 598 shares during the period. 73.01% of the stock is currently owned by institutional investors.

About Abbott Laboratories (Get Rating)

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.

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Earnings History and Estimates for Abbott Laboratories (NYSE:ABT)

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