Abbott Laboratories (NYSE:ABT) released its quarterly earnings results on Thursday. The healthcare product maker reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.42 by $0.15, Briefing.com reports. Abbott Laboratories had a return on equity of 18.61% and a net margin of 11.15%. The company had revenue of $7.33 billion during the quarter, compared to analysts' expectations of $6.85 billion. During the same quarter in the prior year, the business posted $0.82 earnings per share. The company's revenue for the quarter was down 8.2% compared to the same quarter last year. Abbott Laboratories updated its FY 2020
Pre-Market guidance to 3.25 EPS.
Shares of Abbott Laboratories stock opened at $97.70 on Thursday. The stock has a 50-day moving average price of $91.17 and a 200 day moving average price of $87.42. The company has a market cap of $171.10 billion, a P/E ratio of 48.61, a P/E/G ratio of 3.89 and a beta of 0.97. The company has a current ratio of 1.43, a quick ratio of 1.01 and a debt-to-equity ratio of 0.55. Abbott Laboratories has a 1 year low of $61.61 and a 1 year high of $100.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Wednesday, July 15th will be paid a $0.36 dividend. This is an increase from Abbott Laboratories's previous quarterly dividend of $0.08. This represents a $1.44 annualized dividend and a yield of 1.47%. The ex-dividend date is Tuesday, July 14th. Abbott Laboratories's dividend payout ratio is currently 44.44%.
Several research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Abbott Laboratories from $88.00 to $98.00 and gave the company an "overweight" rating in a research note on Friday, April 17th. Citigroup raised their target price on Abbott Laboratories from $87.00 to $109.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Raymond James raised their target price on Abbott Laboratories from $92.00 to $102.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Goldman Sachs Group cut Abbott Laboratories from a "neutral" rating to a "sell" rating and set a $84.00 target price for the company. in a research note on Sunday, May 31st. Finally, Cfra raised their target price on Abbott Laboratories from $99.00 to $101.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company's stock. Abbott Laboratories presently has a consensus rating of "Hold" and a consensus target price of $100.13.
In related news, SVP Christopher J. Scoggins sold 414 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $96.10, for a total value of $39,785.40. Following the completion of the sale, the senior vice president now directly owns 39,706 shares of the company's stock, valued at approximately $3,815,746.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John F. Ginascol sold 63,200 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $96.00, for a total value of $6,067,200.00. Following the completion of the sale, the executive vice president now directly owns 129,645 shares of the company's stock, valued at $12,445,920. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,210 shares of company stock valued at $13,893,200. Company insiders own 1.70% of the company's stock.
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 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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