Zacks: Analysts Expect Abbott Laboratories (ABT) Will Announce Quarterly Sales of $7.26 Billion

Analysts predict that Abbott Laboratories (NYSE:ABT) will post $7.26 billion in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Abbott Laboratories’ earnings, with estimates ranging from $7.20 billion to $7.32 billion. Abbott Laboratories posted sales of $6.34 billion during the same quarter last year, which suggests a positive year over year growth rate of 14.5%. The company is expected to report its next earnings results before the market opens on Wednesday, April 18th.

According to Zacks, analysts expect that Abbott Laboratories will report full-year sales of $7.26 billion for the current year, with estimates ranging from $30.64 billion to $31.16 billion. For the next financial year, analysts expect that the firm will post sales of $32.75 billion per share, with estimates ranging from $32.48 billion to $33.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Abbott Laboratories.

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Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 24th. The healthcare product maker reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $7.59 billion during the quarter, compared to analyst estimates of $7.38 billion. Abbott Laboratories had a return on equity of 13.88% and a net margin of 1.74%. The business’s revenue was up 42.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS.

ABT has been the topic of several recent research reports. BMO Capital Markets raised Abbott Laboratories from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $58.00 to $65.00 in a report on Tuesday, December 12th. Zacks Investment Research downgraded Abbott Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, December 19th. Morgan Stanley raised Abbott Laboratories from an “equal weight” rating to an “overweight” rating and set a $67.00 price target on the stock in a report on Tuesday, January 2nd. JPMorgan Chase raised Abbott Laboratories from a “neutral” rating to an “overweight” rating and set a $60.00 price target on the stock in a report on Tuesday, January 2nd. Finally, Evercore ISI initiated coverage on Abbott Laboratories in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $64.00 price target on the stock. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $65.47.

In other Abbott Laboratories news, insider Brian J. Blaser sold 27,733 shares of Abbott Laboratories stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $62.26, for a total transaction of $1,726,656.58. Following the sale, the insider now owns 156,587 shares of the company’s stock, valued at approximately $9,749,106.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel J. Starks bought 40,037 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were acquired at an average cost of $60.67 per share, for a total transaction of $2,429,044.79. Following the purchase, the director now directly owns 6,943,348 shares in the company, valued at $421,252,923.16. The disclosure for this purchase can be found here. Insiders have sold a total of 124,261 shares of company stock worth $7,559,987 in the last ninety days. 0.74% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in ABT. IFG Advisory LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at $2,824,000. Rowland & Co. Investment Counsel ADV acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at $102,000. Icon Wealth Partners LLC acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at $102,000. SWS Partners acquired a new position in shares of Abbott Laboratories during the 4th quarter valued at $104,000. Finally, Tributary Capital Management LLC acquired a new position in shares of Abbott Laboratories during the 3rd quarter valued at $106,000. 72.37% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE ABT opened at $59.92 on Friday. The company has a market capitalization of $104,640.33, a P/E ratio of 23.97, a P/E/G ratio of 1.78 and a beta of 1.52. Abbott Laboratories has a 12-month low of $42.31 and a 12-month high of $64.60. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.86 and a current ratio of 2.26.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, April 12th. Abbott Laboratories’s payout ratio is currently 44.80%.

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Abbott Laboratories Company Profile

Abbott Laboratories discovers, develops, manufactures, and sells health care products worldwide. The company's Established Pharmaceutical Products segment offers branded generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency; irritable bowel syndrome or biliary spasm; intrahepatic cholestasis or depressive symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

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