FY2017 Earnings Estimate for Abbott Laboratories Issued By Jefferies Group (ABT)
Abbott Laboratories (NYSE:ABT) – Investment analysts at Jefferies Group dropped their FY2017 earnings estimates for Abbott Laboratories in a report released on Thursday. Jefferies Group analyst J. Holford now expects that the brokerage will post earnings per share of $2.51 for the year, down from their previous forecast of $2.56. Jefferies Group currently has a “Buy” rating and a $48.00 price objective on the stock. Jefferies Group also issued estimates for Abbott Laboratories’ FY2018 earnings at $2.83 EPS, FY2019 earnings at $3.16 EPS and FY2020 earnings at $3.51 EPS.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised Abbott Laboratories from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Tuesday, September 20th. Bank of America Corp. reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Monday, September 19th. TheStreet raised Abbott Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, August 22nd. BTIG Research reaffirmed a “buy” rating and set a $45.00 price target on shares of Abbott Laboratories in a research report on Wednesday, August 10th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Abbott Laboratories in a research report on Tuesday, August 9th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $47.02.
Shares of Abbott Laboratories (NYSE:ABT) traded down 2.781% during trading on Monday, reaching $40.025. 18,401,935 shares of the company were exchanged. The company has a 50 day moving average price of $41.83 and a 200-day moving average price of $41.37. Abbott Laboratories has a one year low of $36.00 and a one year high of $46.38. The stock has a market capitalization of $58.84 billion, a price-to-earnings ratio of 26.419 and a beta of 0.87.
Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 19th. The healthcare product maker reported $0.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.01. Abbott Laboratories had a net margin of 11.08% and a return on equity of 15.11%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Abbott Laboratories’s revenue was up 3.0% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Wednesday, October 12th. Abbott Laboratories’s payout ratio is currently 68.87%.
In related news, SVP Daniel Gesua Sive Salvadori sold 815 shares of the firm’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $41.71, for a total value of $33,993.65. Following the transaction, the senior vice president now owns 59,791 shares in the company, valued at $2,493,882.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Miles D. White purchased 242,547 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was bought at an average price of $43.18 per share, for a total transaction of $10,473,179.46. Following the transaction, the chairman now directly owns 2,010,517 shares of the company’s stock, valued at approximately $86,814,124.06. The disclosure for this purchase can be found here. 0.26% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Armstrong Henry H Associates Inc. boosted its position in shares of Abbott Laboratories by 1.6% in the third quarter. Armstrong Henry H Associates Inc. now owns 32,941 shares of the healthcare product maker’s stock worth $1,393,000 after buying an additional 520 shares during the last quarter. Bank of Montreal Can boosted its position in Abbott Laboratories by 1.9% in the third quarter. Bank of Montreal Can now owns 2,145,387 shares of the healthcare product maker’s stock worth $90,730,000 after buying an additional 39,885 shares in the last quarter. Stralem & Co. Inc. boosted its position in Abbott Laboratories by 1.2% in the third quarter. Stralem & Co. Inc. now owns 398,215 shares of the healthcare product maker’s stock worth $16,841,000 after buying an additional 4,550 shares in the last quarter. Atlas Brown Inc. boosted its position in Abbott Laboratories by 0.6% in the third quarter. Atlas Brown Inc. now owns 22,313 shares of the healthcare product maker’s stock worth $944,000 after buying an additional 137 shares in the last quarter. Finally, Longer Investments Inc. boosted its position in Abbott Laboratories by 19.3% in the third quarter. Longer Investments Inc. now owns 50,360 shares of the healthcare product maker’s stock worth $2,130,000 after buying an additional 8,140 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.
Abbott Laboratories Company Profile
Abbott Laboratories (Abbott) is engaged in the discovery, development, manufacture and sale of a line of healthcare products. The Company operates in four business segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. The Established Pharmaceutical Products segment includes the international sales of a line of branded generic pharmaceutical products.
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