Healthcare product and device company Abbott Laboratories (NYSE: ABT) will be announcing earnings results this Thursday morning. Here’s what investors should know.
Abbott Laboratories met analysts’ revenue expectations last quarter, reporting revenues of $10.36 billion, up 4% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EPS estimates but a slight miss of analysts’ organic revenue estimates.
Is Abbott Laboratories a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Abbott Laboratories’s revenue to grow 6.5% year on year to $11.05 billion, improving from the 4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.26 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Abbott Laboratories has missed Wall Street’s revenue estimates three times over the last two years.
With Abbott Laboratories being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for healthcare equipment and supplies stocks. However, investors in the segment have had fairly steady hands going into earnings, with share prices down 1.7% on average over the last month. Abbott Laboratories is down 2.2% during the same time and is heading into earnings with an average analyst price target of $141.78 (compared to the current share price of $131.02).
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