William Blair Has Bullish Estimate for ABT FY2024 Earnings

Abbott Laboratories (NYSE:ABT) – Stock analysts at William Blair increased their FY2024 earnings estimates for Abbott Laboratories in a research report issued on Thursday, October 17th. William Blair analyst M. Kaczor now forecasts that the healthcare product maker will post earnings per share of $4.67 for the year, up from their previous forecast of $4.65. The consensus estimate for Abbott Laboratories’ current full-year earnings is $4.66 per share. William Blair also issued estimates for Abbott Laboratories’ Q1 2025 earnings at $1.10 EPS and Q4 2025 earnings at $1.47 EPS.

Abbott Laboratories (NYSE:ABT) last announced its earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. Abbott Laboratories’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.14 earnings per share.

Several other analysts have also recently issued reports on the stock. Piper Sandler increased their price target on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday. Raymond James reissued a “buy” rating and set a $129.00 price target (up previously from $122.00) on shares of Abbott Laboratories in a research report on Monday, October 14th. Jefferies Financial Group increased their price target on shares of Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday. Citigroup increased their price target on shares of Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Barclays raised their target price on shares of Abbott Laboratories from $140.00 to $143.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $129.67.

Abbott Laboratories Stock Up 1.3 %

Shares of ABT opened at $119.39 on Friday. The stock has a market capitalization of $207.69 billion, a PE ratio of 37.19, a P/E/G ratio of 2.74 and a beta of 0.72. Abbott Laboratories has a 1 year low of $91.64 and a 1 year high of $121.64. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.18 and a current ratio of 1.68. The company’s 50-day simple moving average is $113.97 and its 200-day simple moving average is $108.50.

Abbott Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 dividend on an annualized basis and a yield of 1.84%. Abbott Laboratories’s payout ratio is currently 68.54%.

Insider Transactions at Abbott Laboratories

In other news, CEO Robert B. Ford sold 141,679 shares of the firm’s 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 transaction, the chief executive officer now directly owns 220,059 shares in the company, valued at approximately $25,617,068.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Abbott Laboratories

Hedge funds have recently modified their holdings of the business. Unique Wealth Strategies LLC purchased a new position in Abbott Laboratories in the 2nd quarter valued at $28,000. Redmont Wealth Advisors LLC purchased a new position in Abbott Laboratories in the 1st quarter valued at $30,000. Future Financial Wealth Managment LLC purchased a new position in Abbott Laboratories in the 3rd quarter valued at $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth $32,000. Finally, Ridgewood Investments LLC purchased a new stake in shares of Abbott Laboratories during the 2nd quarter worth $37,000. 75.18% of the stock is currently owned by hedge funds and other institutional investors.

Abbott Laboratories Company Profile

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.