$8.43 Billion in Sales Expected for Abbott Laboratories (NYSE:ABT) This Quarter

Equities analysts expect Abbott Laboratories (NYSE:ABT) to report $8.43 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Abbott Laboratories’ earnings, with the lowest sales estimate coming in at $8.25 billion and the highest estimate coming in at $8.54 billion. Abbott Laboratories reported sales of $8.08 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.3%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, October 21st.

On average, analysts expect that Abbott Laboratories will report full year sales of $32.88 billion for the current financial year, with estimates ranging from $32.61 billion to $33.41 billion. For the next year, analysts expect that the business will report sales of $36.53 billion, with estimates ranging from $35.28 billion to $38.47 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Abbott Laboratories.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings results on Thursday, July 16th. The healthcare product maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.15. Abbott Laboratories had a return on equity of 17.34% and a net margin of 9.89%. The business had revenue of $7.33 billion during the quarter, compared to analyst estimates of $6.85 billion. During the same period in the prior year, the firm posted $0.82 EPS. Abbott Laboratories’s quarterly revenue was down 8.2% compared to the same quarter last year.

Several equities research analysts have recently issued reports on the company. Wolfe Research assumed coverage on Abbott Laboratories in a research report on Friday, September 11th. They set an “outperform” rating and a $124.00 target price for the company. Credit Suisse Group raised their target price on Abbott Laboratories from $109.00 to $136.00 and gave the company an “outperform” rating in a research report on Monday, August 31st. Bank of America raised their target price on Abbott Laboratories from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Stifel Nicolaus raised their target price on Abbott Laboratories from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, August 27th. Finally, BTIG Research reissued a “hold” rating on shares of Abbott Laboratories in a report on Thursday, August 27th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $111.19.

In other Abbott Laboratories news, SVP Michael J. Pederson sold 23,008 shares of Abbott Laboratories stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $98.00, for a total value of $2,254,784.00. Following the transaction, the senior vice president now directly owns 96,899 shares of the company’s stock, valued at approximately $9,496,102. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Randel William Woodgrift sold 2,500 shares of Abbott Laboratories stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $105.28, for a total value of $263,200.00. Following the completion of the transaction, the senior vice president now directly owns 46,267 shares in the company, valued at $4,870,989.76. The disclosure for this sale can be found here. Insiders sold a total of 81,121 shares of company stock valued at $8,636,628 in the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ABT. Benjamin Edwards Inc. increased its stake in shares of Abbott Laboratories by 57.0% during the first quarter. Benjamin Edwards Inc. now owns 314 shares of the healthcare product maker’s stock valued at $25,000 after buying an additional 114 shares during the period. AllSquare Wealth Management LLC increased its stake in shares of Abbott Laboratories by 560.0% during the first quarter. AllSquare Wealth Management LLC now owns 330 shares of the healthcare product maker’s stock valued at $26,000 after buying an additional 280 shares during the period. Lion Street Advisors LLC purchased a new position in shares of Abbott Laboratories during the first quarter valued at approximately $31,000. RPG Investment Advisory LLC increased its stake in shares of Abbott Laboratories by 113.4% during the second quarter. RPG Investment Advisory LLC now owns 382 shares of the healthcare product maker’s stock valued at $35,000 after buying an additional 203 shares during the period. Finally, Bay Harbor Wealth Management LLC increased its stake in shares of Abbott Laboratories by 159.9% during the second quarter. Bay Harbor Wealth Management LLC now owns 447 shares of the healthcare product maker’s stock valued at $41,000 after buying an additional 275 shares during the period. 73.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Abbott Laboratories stock traded down $0.88 during trading hours on Friday, hitting $105.70. 3,934,859 shares of the company’s stock traded hands, compared to its average volume of 7,450,978. Abbott Laboratories has a 12-month low of $61.61 and a 12-month high of $114.19. The stock has a market capitalization of $188.70 billion, a price-to-earnings ratio of 61.68, a PEG ratio of 2.94 and a beta of 0.96. The company has a fifty day simple moving average of $103.06 and a 200-day simple moving average of $91.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.57 and a quick ratio of 1.10.

About Abbott Laboratories

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 symptom; gynecological disorder; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraine; and anti-infective clarithromycin, as well as provides influenza vaccines and products that regulate physiological rhythm of the colon.

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