Research Analysts Offer Predictions for Abbott Laboratories’ Q2 2024 Earnings (NYSE:ABT)

Abbott Laboratories (NYSE:ABT) – Investment analysts at William Blair decreased their Q2 2024 earnings per share (EPS) estimates for shares of Abbott Laboratories in a report issued 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 earnings results on Wednesday, April 17th. The healthcare product maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $9.96 billion for 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 firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS.

A number of other equities analysts also recently commented on the company. Raymond James increased their price objective on Abbott Laboratories from $124.00 to $127.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Evercore ISI increased their price objective on Abbott Laboratories from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Citigroup increased their price objective on Abbott Laboratories from $126.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Royal Bank of Canada dropped their price objective on Abbott Laboratories from $128.00 to $125.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. Finally, Barclays dropped their price objective on Abbott Laboratories from $141.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday. 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 presently has a consensus rating of “Moderate Buy” and an average price target of $121.80.

Abbott Laboratories Trading Down 0.2 %

NYSE:ABT opened at $107.07 on Monday. The stock’s 50 day moving average price is $114.08 and its 200 day moving average price is $107.90. Abbott Laboratories has a 52 week low of $89.67 and a 52 week high of $121.64. The company has a market capitalization of $185.79 billion, a P/E ratio of 33.36, a P/E/G ratio of 2.58 and a beta of 0.74. 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 Dividend Announcement

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

Insider Activity

In other news, 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 completion of the sale, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP John A. Jr. Mccoy sold 472 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $118.50, for a total value of $55,932.00. Following the completion of the transaction, the vice president now directly owns 18,760 shares of the company’s stock, valued at $2,223,060. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andrea F. Wainer sold 42,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 65,027 shares of the company’s stock, valued at $7,315,537.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,435 shares of company stock valued at $6,451,298. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Signature Resources Capital Management LLC bought a new position in Abbott Laboratories in the fourth quarter worth $29,000. Transcendent Capital Group LLC bought a new position in Abbott Laboratories in the fourth quarter worth $29,000. Richardson Financial Services Inc. acquired a new position in Abbott Laboratories during the fourth quarter worth $29,000. Redmont Wealth Advisors LLC acquired a new position in Abbott Laboratories during the first quarter worth $30,000. Finally, True Wealth Design LLC raised its stake in Abbott Laboratories by 1,677.8% during the fourth quarter. True Wealth Design LLC now owns 320 shares of the healthcare product maker’s stock worth $35,000 after acquiring an additional 302 shares in the last quarter. 75.18% of the stock is 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.