Q3 2022 Earnings Forecast for Abbott Laboratories Issued By Zacks Research (NYSE:ABT)

Abbott Laboratories (NYSE:ABTGet Rating) – Equities research analysts at Zacks Research boosted their Q3 2022 EPS estimates for Abbott Laboratories in a report issued on Tuesday, September 20th. Zacks Research analyst B. Das now forecasts that the healthcare product maker will post earnings of $0.87 per share for the quarter, up from their previous forecast of $0.85. The consensus estimate for Abbott Laboratories’ current full-year earnings is $4.99 per share. Zacks Research also issued estimates for Abbott Laboratories’ Q4 2022 earnings at $0.93 EPS, Q1 2023 earnings at $1.11 EPS and Q1 2024 earnings at $1.28 EPS.

A number of other equities analysts also recently issued reports on ABT. Cowen decreased their price target on shares of Abbott Laboratories from $150.00 to $130.00 in a research note on Wednesday, July 13th. BTIG Research decreased their price target on shares of Abbott Laboratories from $130.00 to $126.00 and set a “buy” rating for the company in a research note on Monday, July 18th. Erste Group Bank downgraded shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, August 25th. Wolfe Research initiated coverage on shares of Abbott Laboratories in a report on Tuesday, July 5th. They issued an “underperform” rating on the stock. Finally, Evercore ISI cut their price target on shares of Abbott Laboratories to $112.00 in a report on Friday, July 22nd. One investment 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 has a consensus rating of “Moderate Buy” and an average price target of $132.46.

Abbott Laboratories Stock Performance

Shares of NYSE:ABT opened at $101.07 on Thursday. The company has a market cap of $177.00 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 3.79 and a beta of 0.72. The company has a 50-day moving average price of $107.10 and a 200-day moving average price of $111.67. The company has a current ratio of 2.01, a quick ratio of 1.54 and a debt-to-equity ratio of 0.46. Abbott Laboratories has a 12 month low of $99.85 and a 12 month high of $142.60.

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

Institutional Investors Weigh In On Abbott Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABT. Eudaimonia Partners LLC bought a new stake in shares of Abbott Laboratories in the 1st quarter valued at about $3,068,000. The Manufacturers Life Insurance Company grew its position in shares of Abbott Laboratories by 1.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,925,091 shares of the healthcare product maker’s stock worth $464,574,000 after buying an additional 53,181 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Abbott Laboratories by 0.5% in the 1st quarter. EP Wealth Advisors LLC now owns 23,596 shares of the healthcare product maker’s stock worth $2,793,000 after buying an additional 113 shares during the last quarter. Cornerstone Advisory LLC grew its position in Abbott Laboratories by 6.9% during the 1st quarter. Cornerstone Advisory LLC now owns 7,706 shares of the healthcare product maker’s stock worth $912,000 after purchasing an additional 499 shares during the last quarter. Finally, TRH Financial LLC grew its position in Abbott Laboratories by 23.2% during the 1st quarter. TRH Financial LLC now owns 73,590 shares of the healthcare product maker’s stock worth $8,710,000 after purchasing an additional 13,864 shares during the last quarter. Institutional investors own 73.03% of the company’s stock.

Insider Activity

In related news, SVP Fernando Mateus sold 2,457 shares of the firm’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $109.05, for a total transaction of $267,935.85. Following the completion of the transaction, the senior vice president now directly owns 14,503 shares of the company’s stock, valued at $1,581,552.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Abbott Laboratories news, 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 value of $5,457,000.00. Following the completion of the transaction, the director now directly owns 6,923,500 shares of the company’s stock, valued at approximately $755,630,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Fernando Mateus sold 2,457 shares of Abbott Laboratories stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $109.05, for a total transaction of $267,935.85. Following the completion of the transaction, the senior vice president now directly owns 14,503 shares of the company’s stock, valued at $1,581,552.15. The disclosure for this sale can be found here. Insiders have sold 204,788 shares of company stock worth $21,776,756 in the last three months. Company insiders own 0.52% of the company’s stock.

Abbott Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.88 annualized dividend and a dividend yield of 1.86%. Abbott Laboratories’s payout ratio is 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.

See Also

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

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