Research Analysts Set Expectations for Abbott Laboratories’ FY2022 Earnings (NYSE:ABT)

Abbott Laboratories (NYSE:ABTGet Rating) – Equities researchers at Zacks Research boosted their FY2022 EPS estimates for shares of Abbott Laboratories in a report released on Tuesday, September 20th. Zacks Research analyst B. Das now forecasts that the healthcare product maker will post earnings per share of $4.97 for the year, up from their previous estimate of $4.92. The consensus estimate for Abbott Laboratories’ current full-year earnings is $4.99 per share. Zacks Research also issued estimates for Abbott Laboratories’ Q2 2024 earnings at $1.30 EPS and FY2024 earnings at $5.12 EPS.

Other equities analysts have also recently issued research reports about the stock. Erste Group Bank cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, August 25th. StockNews.com raised shares of Abbott Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 3rd. Royal Bank of Canada decreased their price objective on shares of Abbott Laboratories from $143.00 to $132.00 in a research report on Thursday, July 21st. Cowen decreased their price objective on shares of Abbott Laboratories from $150.00 to $130.00 in a research report on Wednesday, July 13th. Finally, Evercore ISI decreased their price objective on shares of Abbott Laboratories to $112.00 in a research report on Friday, July 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.46.

Abbott Laboratories Stock Performance

Shares of ABT stock opened at $102.31 on Wednesday. The company has a quick ratio of 1.54, a current ratio of 2.01 and a debt-to-equity ratio of 0.46. Abbott Laboratories has a 52 week low of $101.21 and a 52 week high of $142.60. The stock has a market capitalization of $179.17 billion, a PE ratio of 21.73, a P/E/G ratio of 3.85 and a beta of 0.72. The firm has a 50 day moving average of $107.43 and a two-hundred day moving average of $111.93.

Abbott Laboratories (NYSE:ABTGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The healthcare product maker reported $1.43 EPS for the quarter, beating the consensus estimate of $1.09 by $0.34. Abbott Laboratories had a net margin of 18.78% and a return on equity of 29.38%. The company had revenue of $11.26 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same quarter last year, the company posted $1.17 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Gamco Investors INC. ET AL increased its stake in shares of Abbott Laboratories by 6.4% during the fourth quarter. Gamco Investors INC. ET AL now owns 25,472 shares of the healthcare product maker’s stock worth $3,585,000 after acquiring an additional 1,542 shares during the period. Glassman Wealth Services increased its stake in shares of Abbott Laboratories by 17.6% during the fourth quarter. Glassman Wealth Services now owns 1,982 shares of the healthcare product maker’s stock worth $279,000 after acquiring an additional 296 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Abbott Laboratories by 2.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 320,814 shares of the healthcare product maker’s stock worth $45,150,000 after acquiring an additional 7,791 shares during the period. Mutual Advisors LLC increased its stake in shares of Abbott Laboratories by 2.9% during the fourth quarter. Mutual Advisors LLC now owns 23,217 shares of the healthcare product maker’s stock worth $3,268,000 after acquiring an additional 648 shares during the period. Finally, New Millennium Group LLC acquired a new position in shares of Abbott Laboratories during the fourth quarter worth about $258,000. 73.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Abbott Laboratories

In related news, Director Daniel J. Starks sold 50,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total value of $5,457,000.00. Following the completion of the sale, the director now directly owns 6,923,500 shares of the company’s stock, valued at $755,630,790. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Abbott Laboratories news, SVP Fernando Mateus sold 2,457 shares of Abbott Laboratories stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.05, for a total value of $267,935.85. Following the transaction, the senior vice president now directly owns 14,503 shares in the company, valued at $1,581,552.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel J. Starks sold 50,000 shares of Abbott Laboratories stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.14, for a total transaction of $5,457,000.00. Following the completion of the transaction, the director now owns 6,923,500 shares in the company, valued at $755,630,790. 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 over the last ninety days. Insiders own 0.52% of the company’s stock.

Abbott Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be given a $0.47 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.88 dividend on an annualized basis and a yield of 1.84%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 39.25%.

Abbott Laboratories Company Profile

(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.

Featured Articles

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

Receive News & Ratings for Abbott Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Abbott Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.