Jefferies Group Weighs in on Abbott Laboratories’ Q3 2018 Earnings (ABT)

Abbott Laboratories (NYSE:ABT) – Equities research analysts at Jefferies Group cut their Q3 2018 EPS estimates for Abbott Laboratories in a note issued to investors on Wednesday, April 18th. Jefferies Group analyst R. Denhoy now expects that the healthcare product maker will post earnings of $0.75 per share for the quarter, down from their prior estimate of $0.76.

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A number of other equities research analysts also recently issued reports on the stock. ValuEngine upgraded shares of Abbott Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Argus boosted their target price on shares of Abbott Laboratories from $66.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, January 30th. They noted that the move was a valuation call. Citigroup boosted their target price on shares of Abbott Laboratories from $59.00 to $64.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Barclays boosted their target price on shares of Abbott Laboratories from $66.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Finally, Guggenheim restated a “buy” rating and issued a $72.00 target price on shares of Abbott Laboratories in a report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $66.83.

Abbott Laboratories stock opened at $59.88 on Friday. Abbott Laboratories has a 1 year low of $42.88 and a 1 year high of $64.60. The company has a market capitalization of $103,941.80, a P/E ratio of 23.95, a P/E/G ratio of 1.76 and a beta of 1.50. The company has a quick ratio of 1.86, a current ratio of 2.26 and a debt-to-equity ratio of 0.87.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Wednesday, April 18th. The healthcare product maker reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.01. Abbott Laboratories had a net margin of 1.67% and a return on equity of 14.53%. The firm had revenue of $7.39 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. Abbott Laboratories’s revenue was up 16.7% compared to the same quarter last year.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Abbott Laboratories by 2.6% in the second quarter. Vanguard Group Inc. now owns 129,786,955 shares of the healthcare product maker’s stock valued at $6,308,944,000 after purchasing an additional 3,241,063 shares during the period. BlackRock Inc. boosted its stake in shares of Abbott Laboratories by 3.3% in the fourth quarter. BlackRock Inc. now owns 110,201,384 shares of the healthcare product maker’s stock valued at $6,289,191,000 after purchasing an additional 3,566,731 shares during the period. Capital Research Global Investors boosted its stake in shares of Abbott Laboratories by 45.7% in the second quarter. Capital Research Global Investors now owns 47,589,663 shares of the healthcare product maker’s stock valued at $2,313,334,000 after purchasing an additional 14,918,038 shares during the period. Northern Trust Corp boosted its stake in shares of Abbott Laboratories by 3.1% in the second quarter. Northern Trust Corp now owns 26,865,706 shares of the healthcare product maker’s stock valued at $1,305,942,000 after purchasing an additional 809,732 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Abbott Laboratories by 4.6% in the fourth quarter. Geode Capital Management LLC now owns 18,056,361 shares of the healthcare product maker’s stock valued at $1,028,274,000 after purchasing an additional 794,027 shares during the period. Institutional investors and hedge funds own 72.34% of the company’s stock.

In other Abbott Laboratories news, insider Stephen R. Fussell sold 56,401 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $59.61, for a total transaction of $3,362,063.61. Following the completion of the sale, the insider now directly owns 184,884 shares in the company, valued at $11,020,935.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen R. Fussell sold 13,313 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $62.84, for a total transaction of $836,588.92. Following the sale, the executive vice president now owns 152,343 shares of the company’s stock, valued at $9,573,234.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 124,261 shares of company stock valued at $7,559,987. 0.74% of the stock is owned by insiders.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, April 12th. This represents a $1.12 annualized dividend and a yield of 1.87%. Abbott Laboratories’s dividend payout ratio is currently 44.80%.

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About Abbott Laboratories

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 symptoms; gynecological disorders; hormone replacement therapy; dyslipidemia; hypertension; hypothyroidism; Ménière's disease and vestibular vertigo; pain, fever, and inflammation; migraines; and anti-infective clarithromycin, as well as provides influenza vaccine and products that regulate physiological rhythm of the colon.

Earnings History and Estimates for Abbott Laboratories (NYSE:ABT)

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