Positive News Coverage Somewhat Unlikely to Impact Abbott Laboratories (ABT) Share Price
Media coverage about Abbott Laboratories (NYSE:ABT) has been trending positive recently, according to Accern Sentiment. The research group identifies negative and positive media coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Abbott Laboratories earned a media sentiment score of 0.27 on Accern’s scale. Accern also gave news headlines about the healthcare product maker an impact score of 47.0570770512053 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Here are some of the headlines that may have impacted Accern’s analysis:
- Research Analysts Issue Forecasts for Abbott Laboratories’ Q1 2018 Earnings (ABT) (americanbankingnews.com)
- Abbott Laboratories Stock: Performance in 3Q17 – Market Realist (marketrealist.com)
- I Love Earnings Season! Let’s See How Abbott Laboratories, Johnson & Johnson And JPMorgan Did This Quarter – Seeking Alpha (seekingalpha.com)
- [$$] Hacking Is a Risk for Pacemakers. So Is the Fix (finance.yahoo.com)
- Earnings Review and Free Research Report: Abbott’s Sales Surged 28.8%; Adjusted EPS Advanced 11.9% (finance.yahoo.com)
Several research analysts recently weighed in on ABT shares. Jefferies Group LLC reissued a “buy” rating and issued a $58.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Stifel Nicolaus boosted their target price on shares of Abbott Laboratories from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets reissued a “hold” rating and issued a $53.00 target price on shares of Abbott Laboratories in a research note on Friday, September 1st. Cowen and Company reissued a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Thursday, August 17th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $55.00 target price on shares of Abbott Laboratories in a research note on Tuesday, October 3rd. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $56.81.
Shares of Abbott Laboratories (NYSE ABT) opened at 56.32 on Friday. The stock has a market cap of $97.85 billion, a PE ratio of 78.88 and a beta of 1.06. Abbott Laboratories has a one year low of $37.38 and a one year high of $56.60. The stock’s 50 day moving average price is $53.27 and its 200-day moving average price is $48.51.
Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $6.83 billion during the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a return on equity of 14.50% and a net margin of 8.37%. The business’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.59 EPS. On average, equities analysts predict that Abbott Laboratories will post $2.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s dividend payout ratio (DPR) is presently 83.47%.
In other news, insider Stephen R. Fussell sold 196,550 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the completion of the sale, the insider now directly owns 221,488 shares of the company’s stock, valued at approximately $10,963,656. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel Gesua Sive Salvadori sold 62,460 shares of the firm’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $52.95, for a total value of $3,307,257.00. Following the sale, the insider now directly owns 113,426 shares of the company’s stock, valued at $6,005,906.70. The disclosure for this sale can be found here. Insiders have sold a total of 333,310 shares of company stock valued at $16,857,255 over the last ninety days. Company insiders own 0.76% of the company’s stock.
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About Abbott Laboratories
Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.
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