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OFFON

ABBOTT LABORATORIES

(ABT)
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Real-time Estimate Quote. Real-time Estimate Cboe BZX - 12/08 01:06:14 pm
131.66 USD   -0.57%
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Abbott Labs 3Q Earnings Rise as Covid-19 Testing Lifts Diagnostics Business

10/20/2021 | 07:58am EST

By Matt Grossman

Abbott Laboratories on Wednesday posted greater third-quarter sales and earnings year over year, with Covid-19 testing revenue giving the company's diagnostics business a lift.

The Abbott Park, Ill.-based medical-products maker posted earnings of $1.17 a share, up from 69 cents a share 12 months ago. Net earnings rose to $2.1 billion from $1.23 billion in the prior-year period.

Stripping out one-time items, Abbott's adjusted earnings were $1.40 a share. According to FactSet's survey, analysts were forecasting adjusted earnings of 94 cents a share.

Sales rose to $10.93 billion, from $8.85 billion a year ago. Analysts had been anticipating sales of $9.56 billion.

Sales grew across the company's divisions. Nutrition sales were up 9.6%, while medical-device sales climbed 15%. Diagnostics sales rose 48%, boosted by Covid-19 testing.

Abbott's global Covid-19 testing sales were $1.9 billion in the quarter.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

10-20-21 0757ET

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Analyst Recommendations on ABBOTT LABORATORIES
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Financials (USD)
Sales 2021 42 050 M - -
Net income 2021 6 560 M - -
Net Debt 2021 8 142 M - -
P/E ratio 2021 35,8x
Yield 2021 1,28%
Capitalization 234 B 234 B -
EV / Sales 2021 5,76x
EV / Sales 2022 5,95x
Nbr of Employees 109 000
Free-Float 88,5%
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Technical analysis trends ABBOTT LABORATORIES
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Mean consensus BUY
Number of Analysts 22
Last Close Price 132,42 $
Average target price 135,94 $
Spread / Average Target 2,66%
EPS Revisions
Managers and Directors
Robert B. Ford President, CEO, Chief Operating Officer & Director
Robert Emmett Funck Chief Financial Officer & Executive VP-Finance
Miles D. White Executive Chairman
Sabina Ewing Chief Investment Officer, VP-Business & Technology
Roxanne Schuh Austin Independent Director
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