Abbott Laboratories (NYSE:ABT) Expected to Announce Quarterly Sales of $9.72 Billion

Equities research analysts expect Abbott Laboratories (NYSE:ABT) to announce sales of $9.72 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Abbott Laboratories’ earnings, with estimates ranging from $9.59 billion to $9.88 billion. Abbott Laboratories reported sales of $7.33 billion during the same quarter last year, which indicates a positive year over year growth rate of 32.6%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, July 22nd.

According to Zacks, analysts expect that Abbott Laboratories will report full-year sales of $39.63 billion for the current financial year, with estimates ranging from $38.87 billion to $40.08 billion. For the next year, analysts expect that the business will post sales of $39.19 billion, with estimates ranging from $37.78 billion to $40.31 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Abbott Laboratories.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Thursday, July 22nd. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.15. The business had revenue of $10.22 billion for the quarter, compared to analysts’ expectations of $9.67 billion. Abbott Laboratories had a return on equity of 24.02% and a net margin of 15.33%. The business’s revenue was up 41.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 earnings per share.

Several brokerages recently weighed in on ABT. SVB Leerink increased their target price on Abbott Laboratories from $115.00 to $128.00 and gave the stock a “market perform” rating in a research report on Tuesday. William Blair reaffirmed an “outperform” rating on shares of Abbott Laboratories in a report on Tuesday, April 20th. BTIG Research dropped their price target on Abbott Laboratories from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, June 2nd. Citigroup reiterated a “buy” rating and set a $125.00 price objective (down from $138.00) on shares of Abbott Laboratories in a research report on Wednesday, June 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Abbott Laboratories from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, July 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fifteen have assigned a buy rating to the company. Abbott Laboratories presently has an average rating of “Buy” and a consensus target price of $123.22.

Shares of ABT traded down $0.87 during trading hours on Friday, hitting $118.11. The stock had a trading volume of 270,773 shares, compared to its average volume of 5,344,334. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.32 and a current ratio of 1.75. The company has a market capitalization of $209.86 billion, a price-to-earnings ratio of 37.30, a P/E/G ratio of 2.33 and a beta of 0.68. The stock has a fifty day simple moving average of $114.72. Abbott Laboratories has a 12-month low of $98.00 and a 12-month high of $128.54.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 16th. Investors of record on Thursday, July 15th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Wednesday, July 14th. Abbott Laboratories’s payout ratio is presently 49.32%.

In other Abbott Laboratories news, SVP Jared Watkin sold 94,576 shares of the business’s stock in a transaction on Friday, April 30th. The shares were sold at an average price of $119.90, for a total transaction of $11,339,662.40. Following the completion of the transaction, the senior vice president now owns 59,783 shares of the company’s stock, valued at approximately $7,167,981.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. KFA Private Wealth Group LLC raised its position in shares of Abbott Laboratories by 3.3% during the second quarter. KFA Private Wealth Group LLC now owns 3,462 shares of the healthcare product maker’s stock valued at $401,000 after buying an additional 110 shares during the last quarter. Welch & Forbes LLC raised its position in shares of Abbott Laboratories by 0.4% during the second quarter. Welch & Forbes LLC now owns 651,169 shares of the healthcare product maker’s stock valued at $75,491,000 after buying an additional 2,290 shares during the last quarter. Integrated Investment Consultants LLC raised its position in shares of Abbott Laboratories by 14.8% during the second quarter. Integrated Investment Consultants LLC now owns 10,805 shares of the healthcare product maker’s stock valued at $1,253,000 after buying an additional 1,397 shares during the last quarter. Ridgecrest Wealth Partners LLC increased its stake in Abbott Laboratories by 26.7% in the second quarter. Ridgecrest Wealth Partners LLC now owns 9,243 shares of the healthcare product maker’s stock valued at $1,072,000 after acquiring an additional 1,948 shares during the period. Finally, Jeppson Wealth Management LLC increased its stake in Abbott Laboratories by 41.4% in the second quarter. Jeppson Wealth Management LLC now owns 6,728 shares of the healthcare product maker’s stock valued at $779,000 after acquiring an additional 1,969 shares during the period. 72.99% of the stock is owned by hedge funds and other institutional investors.

Abbott Laboratories Company Profile

Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. It operates through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, and Medical Devices. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

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

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