Abbott Laboratories (NYSE:ABT) Issues Quarterly Earnings Results


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Abbott Laboratories (NYSE:ABT) posted its quarterly earnings results on Wednesday. The healthcare product maker reported $1.45 EPS for the quarter, beating the consensus estimate of $1.35 by $0.10, MarketWatch Earnings reports. Abbott Laboratories had a net margin of 10.50% and a return on equity of 18.19%. The company had revenue of $10.70 billion for the quarter, compared to analyst estimates of $9.94 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The firm’s revenue was up 28.7% on a year-over-year basis. Abbott Laboratories updated its FY 2021
Pre-Market guidance to 5.00 EPS and its FY21 guidance to at least $5.00 EPS.

ABT stock traded up $0.96 during mid-day trading on Wednesday, reaching $115.69. The company’s stock had a trading volume of 354,377 shares, compared to its average volume of 4,845,446. The stock has a market cap of $205.04 billion, a PE ratio of 60.70, a P/E/G ratio of 2.06 and a beta of 0.83. The company has a current ratio of 1.70, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Abbott Laboratories has a fifty-two week low of $61.61 and a fifty-two week high of $115.40. The company’s 50 day moving average is $109.66 and its two-hundred day moving average is $106.44.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 16th. Shareholders of record on Friday, January 15th will be issued a $0.45 dividend. This is an increase from Abbott Laboratories’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, January 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.56%. Abbott Laboratories’s dividend payout ratio is presently 55.56%.

A number of research analysts have weighed in on ABT shares. Zacks Investment Research downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating and set a $118.00 price objective for the company. in a research report on Tuesday, October 27th. JPMorgan Chase & Co. upped their price objective on shares of Abbott Laboratories from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, October 9th. Jefferies Financial Group upped their price objective on shares of Abbott Laboratories from $113.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. SVB Leerink upped their price objective on shares of Abbott Laboratories from $110.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday, October 22nd. Finally, Morgan Stanley upped their price objective on shares of Abbott Laboratories from $121.00 to $126.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $115.82.

In other Abbott Laboratories news, Director Phebe N. Novakovic sold 4,790 shares of the stock in a transaction dated Friday, December 4th. The shares were sold at an average price of $107.28, for a total value of $513,871.20. Following the completion of the sale, the director now owns 34,446 shares in the company, valued at approximately $3,695,366.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. Its Established Pharmaceutical Products segment offers generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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Earnings History for Abbott Laboratories (NYSE:ABT)

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