Abbott Laboratories (NYSE:ABT) Updates Q4 2024 Earnings Guidance

Abbott Laboratories (NYSE:ABT) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.310-1.370 for the period, compared to the consensus earnings per share estimate of 1.340. The company issued revenue guidance of -. Abbott Laboratories also updated its FY 2024 guidance to 4.640-4.700 EPS.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ABT. Piper Sandler began coverage on shares of Abbott Laboratories in a report on Thursday, September 19th. They set an overweight rating and a $131.00 target price on the stock. Royal Bank of Canada increased their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an outperform rating in a report on Tuesday, October 8th. Edward Jones cut shares of Abbott Laboratories from a buy rating to a hold rating in a report on Tuesday, July 30th. Citigroup raised their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the company a buy rating in a report on Thursday, August 22nd. Finally, Evercore ISI raised their price target on shares of Abbott Laboratories from $120.00 to $124.00 and gave the company an outperform rating in a report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $125.54.

Abbott Laboratories Stock Down 1.0 %

ABT stock opened at $116.04 on Wednesday. The firm has a 50 day moving average of $113.44 and a 200 day moving average of $108.34. The stock has a market capitalization of $201.87 billion, a PE ratio of 36.15, a price-to-earnings-growth ratio of 2.74 and a beta of 0.72. The company has a quick ratio of 1.18, a current ratio of 1.68 and a debt-to-equity ratio of 0.33. Abbott Laboratories has a 52 week low of $90.87 and a 52 week high of $121.64.

Abbott Laboratories (NYSE:ABT) last released its earnings results on Thursday, July 18th. The healthcare product maker reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company had revenue of $10.38 billion during the quarter, compared to analysts’ expectations of $10.37 billion. During the same period last year, the business earned $1.08 EPS. Abbott Laboratories’s revenue for the quarter was up 4.0% on a year-over-year basis. Sell-side analysts forecast that Abbott Laboratories will post 4.66 earnings per share for the current year.

Abbott Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, October 15th. Abbott Laboratories’s payout ratio is 68.54%.

Insider Buying and Selling at Abbott Laboratories

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the sale, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

About Abbott Laboratories

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.