Abbott Reports Third-Quarter 2024 Results and Raises Midpoint of Full-Year EPS Guidance Range
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TD Cowen Reiterates Buy Rating on Abbott Labs (ABT)
October 16, 2024 4:18 PM EDTTD Cowen analyst Joshua Jennings reiterated a Buy rating and $130.00 price target on Abbott Labs (NYSE: ABT).
The analyst comments "ABT Posted Another Good Quarter: Third-quarter revenue of $10.64B and EPS of $1.21 exceeded Street forecasts of $10.55B and $1.20. Sales increased 4.9% on a reported basis and were up 7.6% on an organic basis including Covid test sales of $265M, which... More
JPMorgan Reiterates Overweight Rating on Abbott Labs (ABT)
October 16, 2024 4:12 PM EDTJPMorgan analyst Robbie Marcus reiterated an Overweight rating and $135.00 price target on Abbott Labs (NYSE: ABT)
The analyst comments "We like the setup for Abbott going forwards into 2025+ the quarter wasnt perfect, but we saw a strong Devices print and Covid testing upside offset 1x channel destocking in OUS... More
Abbott Labs (ABT) PT Raised to $125 at Jefferies
October 16, 2024 4:04 PM EDTJefferies analyst Matthew Taylor raised the price target on Abbott Labs (NYSE: ABT) to $125.00 (from $120.00) while maintaining a Hold rating.
The analyst comments "ABT reported 3Q24 sales of $10.6B vs. cons. $10.55B, driven by MedTech outperformance/COVID tests, partially offset by softness in... More
Abbott Labs (ABT) PT Raised to $130 at Stifel
October 16, 2024 3:21 PM EDTStifel analyst Rick Wise raised the price target on Abbott Labs (NYSE: ABT) to $130.00 (from $125.00) while maintaining a Buy rating.
The analyst comments "Bottom Line: As 2025 approaches, during today's earnings call, Abbott management encouragingly suggested that the company is well-positioned for more-of-the-same high-singledigit revenue... More
Abbott Labs (ABT) PT Raised to $128 at Evercore ISI
October 16, 2024 2:42 PM EDTEvercore ISI analyst Vijay Kumar raised the price target on Abbott Labs (NYSE: ABT) to $128.00 (from $124.00) while maintaining a Outperform rating.
The analyst comments "Thesis Update: ABTs overall organic (ex COVID) of 8.2% was below recent trends (1H org grew ~10%), mostly due to one off issues in International Nutrition & Core Lab within Dx. On the Nutrition side, ABT lost some share in a specific geography and as a result took down channel inventory. On Dx side, China VBP (was expected) finally went into effect in 3Q along with price... More
Abbott (ABT) Tops Q3 EPS by 1c, Offers Guidance
October 16, 2024 7:32 AM EDTAbbott (NYSE: ABT) reported Q3 EPS of $1.21, $0.01 better than the analyst estimate of $1.20. Revenue for the quarter came in at $10.6 billion versus the consensus estimate of $10.56 billion.
GUIDANCE:
Abbott sees Q4 2024 EPS of $1.31-$1.37, versus the consensus of $1.34.
For earnings history and earnings-related data on Abbott (ABT) click here.
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