Q2 2024 EPS Estimates for Abbott Laboratories Decreased by Analyst (NYSE:ABT)

Abbott Laboratories (NYSE:ABT) – Stock analysts at William Blair cut their Q2 2024 earnings estimates for shares of Abbott Laboratories in a research note issued to investors on Friday, April 19th. William Blair analyst M. Kaczor now expects that the healthcare product maker will earn $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 quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. Abbott Laboratories had a net margin of 13.96% and a return on equity of 20.32%. The firm had revenue of $9.96 billion for the quarter, compared to analyst estimates of $9.88 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year.

A number of other brokerages have also recently issued reports on ABT. Barclays cut their price objective on shares of Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating for the company in a research note on Monday. Raymond James upped their price objective on shares of Abbott Laboratories from $124.00 to $127.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Royal Bank of Canada cut their price objective on shares of Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. Citigroup increased their price target on shares of Abbott Laboratories from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Evercore ISI increased their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $121.80.

Abbott Laboratories Price Performance

Shares of Abbott Laboratories stock opened at $107.07 on Monday. Abbott Laboratories has a 52-week low of $89.67 and a 52-week high of $121.64. The stock has a market capitalization of $185.79 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74. The company has a fifty day moving average of $114.08 and a 200-day moving average of $107.90. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.16 and a current ratio of 1.64.

Abbott Laboratories Announces Dividend

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

Insiders Place Their Bets

In other Abbott Laboratories news, EVP Andrea F. Wainer sold 12,500 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $120.00, for a total value of $1,500,000.00. Following the completion of the transaction, the executive vice president now directly owns 78,704 shares in the company, valued at approximately $9,444,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Andrea F. Wainer sold 42,500 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $112.50, for a total value of $4,781,250.00. Following the completion of the transaction, the executive vice president now directly owns 65,027 shares in the company, valued at approximately $7,315,537.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Andrea F. Wainer sold 12,500 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $120.00, for a total transaction of $1,500,000.00. Following the completion of the transaction, the executive vice president now owns 78,704 shares of the company’s stock, valued at $9,444,480. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,435 shares of company stock worth $6,451,298. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC increased its stake in Abbott Laboratories by 24.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,543 shares of the healthcare product maker’s stock valued at $912,000 after purchasing an additional 1,874 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Abbott Laboratories by 9.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,413 shares of the healthcare product maker’s stock valued at $331,000 after purchasing an additional 296 shares in the last quarter. RFG Advisory LLC increased its stake in Abbott Laboratories by 3.4% during the 3rd quarter. RFG Advisory LLC now owns 13,316 shares of the healthcare product maker’s stock valued at $1,290,000 after purchasing an additional 436 shares in the last quarter. Douglas Lane & Associates LLC increased its stake in Abbott Laboratories by 4.5% during the 3rd quarter. Douglas Lane & Associates LLC now owns 16,809 shares of the healthcare product maker’s stock valued at $1,628,000 after purchasing an additional 725 shares in the last quarter. Finally, Columbia Trust Co 01012016 increased its stake in Abbott Laboratories by 6.8% during the 3rd quarter. Columbia Trust Co 01012016 now owns 5,398 shares of the healthcare product maker’s stock valued at $523,000 after purchasing an additional 343 shares in the last quarter. 75.18% of the stock is currently owned by institutional investors.

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.