$7.99 Billion in Sales Expected for Abbott Laboratories (NYSE:ABT) This Quarter
Analysts expect that Abbott Laboratories (NYSE:ABT) will post sales of $7.99 billion for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Abbott Laboratories’ earnings, with estimates ranging from $7.95 billion to $8.01 billion. Abbott Laboratories reported sales of $7.77 billion during the same quarter last year, which would indicate a positive year over year growth rate of 2.8%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Wednesday, July 17th.
On average, analysts expect that Abbott Laboratories will report full-year sales of $31.93 billion for the current year, with estimates ranging from $31.84 billion to $32.02 billion. For the next fiscal year, analysts forecast that the company will post sales of $34.07 billion, with estimates ranging from $33.79 billion to $34.21 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Abbott Laboratories.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, April 17th. The healthcare product maker reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. Abbott Laboratories had a net margin of 8.53% and a return on equity of 16.86%. The company had revenue of $7.54 billion for the quarter, compared to the consensus estimate of $7.49 billion. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year.
Shares of NYSE ABT traded down $1.52 on Friday, hitting $83.92. The company’s stock had a trading volume of 5,667,202 shares, compared to its average volume of 4,985,911. Abbott Laboratories has a 12-month low of $61.55 and a 12-month high of $85.99. The stock has a market cap of $148.05 billion, a P/E ratio of 29.14, a price-to-earnings-growth ratio of 2.41 and a beta of 1.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.58 and a quick ratio of 1.13. The company has a 50 day simple moving average of $81.77.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Friday, July 12th. Abbott Laboratories’s payout ratio is 44.44%.
In other Abbott Laboratories news, insider Brian J. Blaser sold 450,062 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $75.52, for a total transaction of $33,988,682.24. Following the transaction, the insider now owns 295,745 shares of the company’s stock, valued at $22,334,662.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Stephen R. Fussell sold 56,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $76.00, for a total transaction of $4,256,000.00. Following the transaction, the executive vice president now directly owns 225,935 shares in the company, valued at approximately $17,171,060. The disclosure for this sale can be found here. Insiders have sold 1,199,910 shares of company stock worth $93,837,075 in the last three months. Insiders own 0.70% of the company’s stock.
A number of large investors have recently bought and sold shares of ABT. Oregon Public Employees Retirement Fund raised its stake in Abbott Laboratories by 7,559.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 30,095,862 shares of the healthcare product maker’s stock worth $416,000 after purchasing an additional 29,702,943 shares during the period. Norges Bank purchased a new position in Abbott Laboratories during the fourth quarter worth approximately $1,239,454,000. FMR LLC raised its stake in Abbott Laboratories by 118.2% during the fourth quarter. FMR LLC now owns 23,762,285 shares of the healthcare product maker’s stock worth $1,718,726,000 after purchasing an additional 12,871,418 shares during the period. Ronna Sue Cohen raised its stake in Abbott Laboratories by 7,636.6% during the first quarter. Ronna Sue Cohen now owns 6,248,957 shares of the healthcare product maker’s stock worth $6,249,000 after purchasing an additional 6,168,186 shares during the period. Finally, BlackRock Inc. raised its stake in Abbott Laboratories by 3.3% during the fourth quarter. BlackRock Inc. now owns 121,045,590 shares of the healthcare product maker’s stock worth $8,755,228,000 after purchasing an additional 3,842,101 shares during the period. 73.35% of the stock is currently owned by institutional investors.
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 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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