Research Analysts Issue Forecasts for Abbott Laboratories’ FY2017 Earnings (ABT)

Research Analysts Issue Forecasts for Abbott Laboratories’ FY2017 Earnings (ABT)

Abbott Laboratories (NYSE:ABT) – Leerink Swann lifted their FY2017 earnings per share estimates for shares of Abbott Laboratories in a report released on Wednesday. Leerink Swann analyst D. Antalffy now forecasts that the firm will earn $2.45 per share for the year, up from their previous estimate of $2.43. Leerink Swann also issued estimates for Abbott Laboratories’ Q4 2017 earnings at $0.74 EPS, Q3 2018 earnings at $0.78 EPS, FY2018 earnings at $2.85 EPS, FY2019 earnings at $3.17 EPS and FY2021 earnings at $3.93 EPS.

Several other brokerages have also recently commented on ABT. Zacks Investment Research cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, October 4th. Royal Bank Of Canada decreased their price objective on shares of Abbott Laboratories from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday. TheStreet cut shares of Abbott Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, December 2nd. Jefferies Group LLC lifted their price objective on shares of Abbott Laboratories from $46.00 to $47.00 and gave the company a “buy” rating in a research note on Friday, January 13th. Finally, RBC Capital Markets decreased their price objective on shares of Abbott Laboratories from $48.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $46.33.

Shares of Abbott Laboratories (NYSE:ABT) traded up 0.22% during trading on Friday, hitting $41.05. 4,539,200 shares of the company were exchanged. Abbott Laboratories has a 12 month low of $36.02 and a 12 month high of $45.79. The firm’s 50-day moving average price is $39.56 and its 200 day moving average price is $41.19. The firm has a market capitalization of $60.44 billion, a PE ratio of 43.81 and a beta of 0.92.

Abbott Laboratories (NYSE:ABT) last issued its earnings results on Wednesday, January 25th. The healthcare product maker reported $0.65 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.65. Abbott Laboratories had a net margin of 6.71% and a return on equity of 15.74%. The firm earned $5.33 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. Abbott Laboratories’s revenue for the quarter was up 2.8% on a year-over-year basis.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jarislowsky Fraser Ltd boosted its position in Abbott Laboratories by 780.3% in the second quarter. Jarislowsky Fraser Ltd now owns 18,800,322 shares of the healthcare product maker’s stock worth $1,060,533,000 after buying an additional 16,664,605 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Abbott Laboratories by 16.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 36,209,595 shares of the healthcare product maker’s stock worth $1,423,400,000 after buying an additional 5,115,232 shares during the last quarter. Flossbach Von Storch AG boosted its position in Abbott Laboratories by 51.5% in the second quarter. Flossbach Von Storch AG now owns 14,514,773 shares of the healthcare product maker’s stock worth $570,576,000 after buying an additional 4,936,655 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in Abbott Laboratories during the second quarter worth approximately $162,264,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Abbott Laboratories by 11.1% in the third quarter. Price T Rowe Associates Inc. MD now owns 32,791,216 shares of the healthcare product maker’s stock worth $1,386,741,000 after buying an additional 3,272,839 shares during the last quarter. 62.51% of the stock is currently owned by institutional investors.

In other news, Director Sally E. Blount purchased 5,100 shares of the stock in a transaction dated Tuesday, November 1st. The shares were purchased at an average price of $39.24 per share, with a total value of $200,124.00. Following the transaction, the director now owns 20,143 shares in the company, valued at approximately $790,411.32. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert B. Ford purchased 12,775 shares of the stock in a transaction dated Wednesday, December 14th. The shares were purchased at an average cost of $39.09 per share, for a total transaction of $499,374.75. Following the transaction, the insider now owns 51,532 shares in the company, valued at approximately $2,014,385.88. The disclosure for this purchase can be found here. In the last three months, insiders have bought 154,911 shares of company stock worth $6,211,445. Corporate insiders own 0.26% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be given a dividend of $0.265 per share. This is a boost from Abbott Laboratories’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, January 11th. This represents a $1.06 annualized dividend and a dividend yield of 2.59%. Abbott Laboratories’s payout ratio is presently 113.98%.

About Abbott Laboratories

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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