Abbott Laboratories (ABT) Expected to Post Quarterly Sales of $7.79 Billion

Brokerages forecast that Abbott Laboratories (NYSE:ABT) will announce sales of $7.79 billion for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Abbott Laboratories’ earnings. The highest sales estimate is $7.85 billion and the lowest is $7.73 billion. Abbott Laboratories posted sales of $7.59 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.6%. The business is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, January 23rd.

On average, analysts expect that Abbott Laboratories will report full year sales of $30.60 billion for the current year, with estimates ranging from $30.55 billion to $30.67 billion. For the next year, analysts forecast that the company will post sales of $32.03 billion, with estimates ranging from $31.67 billion to $32.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Abbott Laboratories.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings results on Wednesday, October 17th. The healthcare product maker reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. Abbott Laboratories had a net margin of 2.91% and a return on equity of 16.05%. The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the company posted $0.66 EPS. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year.

ABT has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Tuesday, September 18th. Wells Fargo & Co raised their price target on shares of Abbott Laboratories from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. Raymond James raised their price target on shares of Abbott Laboratories from $72.00 to $77.00 and gave the company an “outperform” rating in a research note on Monday, September 24th. Cowen raised their price target on shares of Abbott Laboratories from $72.00 to $86.00 and gave the company an “average” rating in a research note on Friday, October 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Abbott Laboratories from $77.00 to $81.00 and gave the stock an “overweight” rating in a research report on Monday, October 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $76.86.

Shares of ABT traded up $0.25 during mid-day trading on Friday, reaching $69.33. The company had a trading volume of 4,769,924 shares, compared to its average volume of 8,115,916. Abbott Laboratories has a 1-year low of $55.58 and a 1-year high of $74.92. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market cap of $121.96 billion, a P/E ratio of 27.73, a PEG ratio of 1.86 and a beta of 1.24.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be issued a dividend of $0.32 per share. This is a positive change from Abbott Laboratories’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Monday, January 14th. This represents a $1.28 annualized dividend and a yield of 1.85%. Abbott Laboratories’s dividend payout ratio (DPR) is presently 44.80%.

In other Abbott Laboratories news, insider Jared Watkin sold 65,000 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $71.00, for a total transaction of $4,615,000.00. Following the completion of the transaction, the insider now owns 128,640 shares in the company, valued at approximately $9,133,440. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Miles D. White sold 142,341 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The stock was sold at an average price of $72.35, for a total transaction of $10,298,371.35. Following the transaction, the chairman now owns 3,459,185 shares of the company’s stock, valued at approximately $250,272,034.75. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Csenge Advisory Group bought a new stake in shares of Abbott Laboratories in the 3rd quarter valued at $31,000. Signature Estate & Investment Advisors LLC bought a new stake in Abbott Laboratories during the 3rd quarter valued at $103,000. Atlantic Trust LLC bought a new stake in Abbott Laboratories during the 2nd quarter valued at $104,000. Fort L.P. bought a new stake in Abbott Laboratories during the 2nd quarter valued at $119,000. Finally, Security National Bank of SO Dak increased its stake in Abbott Laboratories by 72.0% during the 2nd quarter. Security National Bank of SO Dak now owns 2,098 shares of the healthcare product maker’s stock valued at $128,000 after purchasing an additional 878 shares in the last quarter. Hedge funds and other institutional investors own 72.75% of the company’s stock.

About Abbott Laboratories

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, Cardiovascular and Neuromodulation Products, and Other.

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