Abbott Laboratories (NYSE:ABT) Expected to Earn Q2 2024 Earnings of $1.10 Per Share

Abbott Laboratories (NYSE:ABT) – Stock analysts at William Blair dropped their Q2 2024 earnings per share (EPS) estimates for Abbott Laboratories in a note issued to investors on Friday, April 19th. William Blair analyst M. Kaczor now forecasts that the healthcare product maker will post earnings of $1.10 per share for the quarter, down from their prior forecast of $1.12. The consensus estimate for Abbott Laboratories’ current full-year earnings is $4.62 per share. William Blair also issued estimates for Abbott Laboratories’ Q1 2025 earnings at $1.13 EPS, Q2 2025 earnings at $1.28 EPS, Q3 2025 earnings at $1.32 EPS, Q4 2025 earnings at $1.42 EPS and FY2025 earnings at $5.15 EPS.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $9.96 billion during the quarter, compared to the consensus estimate of $9.88 billion. Abbott Laboratories had a return on equity of 20.32% and a net margin of 13.96%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 earnings per share.

ABT has been the subject of several other research reports. Barclays boosted their target price on Abbott Laboratories from $133.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, January 26th. Royal Bank of Canada lowered their target price on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday. Evercore ISI boosted their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Raymond James boosted their price target on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Finally, Citigroup boosted their price target on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $121.90.

Abbott Laboratories Stock Up 1.9 %

Shares of NYSE ABT opened at $107.28 on Monday. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.35. The company has a market cap of $186.15 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 2.58 and a beta of 0.74. Abbott Laboratories has a 12 month low of $89.67 and a 12 month high of $121.64. The stock has a 50-day moving average price of $114.19 and a two-hundred day moving average price of $107.82.

Hedge Funds Weigh In On Abbott Laboratories

A number of institutional investors and hedge funds have recently modified their holdings of ABT. Altshuler Shaham Ltd bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $28,000. Cornerstone Planning Group LLC bought a new position in shares of Abbott Laboratories during the 2nd quarter worth approximately $28,000. Signature Resources Capital Management LLC bought a new position in shares of Abbott Laboratories during the 4th quarter worth approximately $29,000. Transcendent Capital Group LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of Abbott Laboratories during the fourth quarter worth approximately $29,000. 75.18% of the stock is currently owned by institutional investors.

Insider Activity at Abbott Laboratories

In related news, EVP Andrea F. Wainer sold 42,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the sale, the executive vice president now directly owns 65,027 shares in the company, valued at $7,315,537.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Abbott Laboratories news, EVP Daniel Gesua Sive Salvadori sold 963 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $118.50, for a total transaction of $114,115.50. Following the transaction, the executive vice president now directly owns 125,697 shares in the company, valued at approximately $14,895,094.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $112.50, for a total value of $4,781,250.00. Following the transaction, the executive vice president now owns 65,027 shares in the company, valued at $7,315,537.50. The disclosure for this sale can be found here. Insiders have sold 56,435 shares of company stock worth $6,451,298 over the last ninety days. Insiders own 1.10% of the company’s stock.

Abbott Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, April 12th. Abbott Laboratories’s payout ratio is presently 68.54%.

About Abbott Laboratories

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 company 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.