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

Equities research analysts expect that Abbott Laboratories (NYSE:ABT) will announce $9.72 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Abbott Laboratories’ earnings, with the lowest sales estimate coming in at $9.59 billion and the highest estimate coming in at $9.88 billion. Abbott Laboratories reported sales of $7.33 billion during the same quarter last year, which would suggest a positive year over year growth rate of 32.6%. The firm is expected to announce its next 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 fiscal year, analysts anticipate that the firm will report sales of $39.19 billion, with estimates ranging from $37.78 billion to $40.31 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Abbott Laboratories.

Abbott Laboratories (NYSE:ABT) last released its quarterly earnings data on Thursday, July 22nd. The healthcare product maker reported $1.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.15. The business had revenue of $10.22 billion during 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 quarterly revenue was up 41.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS.

Several analysts have commented on the company. reduced their price objective on Abbott Laboratories from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, June 2nd. BTIG Research cut their target price on Abbott Laboratories from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, June 2nd. Raymond James lowered their price target on Abbott Laboratories from $130.00 to $116.00 and set an “outperform” rating on the stock in a report on Wednesday, June 2nd. William Blair restated an “outperform” rating on shares of Abbott Laboratories in a report on Tuesday, April 20th. Finally, Morgan Stanley lowered their price target on Abbott Laboratories from $140.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, June 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $123.22.

In other news, SVP Jared Watkin sold 94,576 shares of the firm’s stock in a transaction on Friday, April 30th. The stock was sold at an average price of $119.90, for a total transaction of $11,339,662.40. Following the sale, the senior vice president now owns 59,783 shares in the company, valued at $7,167,981.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Inspire Advisors LLC purchased a new position in shares of Abbott Laboratories in the 4th quarter worth $29,000. Sierra Capital LLC purchased a new position in Abbott Laboratories in the first quarter valued at about $30,000. Wealthcare Capital Management LLC purchased a new position in Abbott Laboratories in the first quarter valued at about $42,000. Paragon Wealth Strategies LLC purchased a new position in Abbott Laboratories in the second quarter valued at about $47,000. Finally, Selective Wealth Management Inc. raised its position in Abbott Laboratories by 368.4% in the first quarter. Selective Wealth Management Inc. now owns 445 shares of the healthcare product maker’s stock valued at $53,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 72.99% of the company’s stock.

Shares of Abbott Laboratories stock traded down $0.87 on Friday, hitting $118.11. The stock had a trading volume of 270,773 shares, compared to its average volume of 5,344,334. Abbott Laboratories has a 52-week low of $98.00 and a 52-week high of $128.54. The company has a current ratio of 1.75, a quick ratio of 1.32 and a debt-to-equity ratio of 0.52. The firm has a market cap of $209.86 billion, a PE ratio of 37.30, a price-to-earnings-growth ratio of 2.33 and a beta of 0.68. The business has a 50 day moving average price of $114.72.

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

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, 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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