Group 1 - Abbott reported quarterly earnings of $1.21 per share, exceeding the Zacks Consensus Estimate of $1.20 per share, and up from $1.14 per share a year ago, representing an earnings surprise of 0.83% [1] - The company achieved revenues of $10.64 billion for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.71% and increasing from $10.14 billion year-over-year [1] - Over the last four quarters, Abbott has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [1] Group 2 - The stock's immediate price movement will depend on management's commentary during the earnings call, with Abbott shares having gained about 5.4% year-to-date compared to the S&P 500's 21.9% gain [2] - The current consensus EPS estimate for the upcoming quarter is $1.34 on revenues of $10.87 billion, and for the current fiscal year, it is $4.66 on revenues of $41.77 billion [4] - The Medical - Products industry, to which Abbott belongs, is currently ranked in the top 26% of over 250 Zacks industries, indicating a favorable outlook for the sector [5]

Core Insights - Abbott Laboratories is recognized for its consistent market-beating returns, ranking as the 11th top-returning stock since 1937 and the top in the healthcare sector [1] - The company demonstrates steady growth and capital returns, supported by dividends and share repurchases, which contribute to reducing portfolio risk [2] Financial Performance - In Q3, Abbott reported a 4.9% growth, surpassing consensus forecasts, with organic growth at 8.2%, driven by a strong medical device segment [3] - Medical Devices segment grew by 11.7% reported and 13.3% organically, highlighting the strength in Structural Heart and Heart Failure products [3] - Established Pharmaceuticals grew by 2.7% reported and 7% organically, while Nutrition and Diagnostics faced declines [3] Margins and Earnings - Operating and net margins widened slightly year-over-year, with operating earnings up 12.8% and net operating earnings up 14.6% [4] - Adjusted fully diluted EPS reached $1.21, reflecting a 6% increase, with stable margin forecasts for Q4 [4] - Full-year earnings guidance was raised to a range centering on $4.67, slightly above the $4.66 consensus [4] Capital Returns - Abbott has a strong capital return history with a 53-year record of annual increases and a low payout ratio below 50% [5] - The company has a robust balance sheet, allowing for R&D, reinvestment, and share repurchases, with a recent $7 billion repurchase authorization [5] Analyst Sentiment - Analysts show strong support for Abbott, with a consensus rating of Moderate Buy and a price target of $125, indicating about 10% upside potential [6] - Recent upward revisions in price targets suggest a potential high-end range of $143, which could represent a new all-time high [6] Market Dynamics - Following the earnings release, Abbott's share price experienced a slight pullback, but analysts believe this could present a buying opportunity [7] - Critical support is identified near $115, and maintaining support above this level could lead to new highs before year-end [7]

Financial Performance - Abbott reported third-quarter 2024 sales of $10.6 billion, reflecting a 4.9% increase year-over-year, with organic sales growth of 8.2% driven by double-digit growth in Medical Devices[1][2] - The company achieved a GAAP diluted EPS of $0.94 and an adjusted diluted EPS of $1.21 for the third quarter, with full-year diluted EPS guidance raised to a range of $3.34 to $3.40[2][3] - Abbott's U.S. sales increased by 10.1% to $4.2 billion, while international sales grew by 1.7% to $6.4 billion, with total reported sales of $10.6 billion[4] - Total reported sales for the first nine months of 2024 were $6.821 billion, representing an 8.5% decrease compared to the same period in 2023[12] - Net sales for Q3 2024 reached $10,635 million, a 4.9% increase compared to $10,143 million in Q3 2023[30] - Operating earnings for Q3 2024 were $1,859 million, reflecting a 12.8% increase from $1,647 million in Q3 2023[30] - Net earnings for Q3 2024 were $1,646 million, up 14.6% from $1,436 million in Q3 2023[30] - For the nine months ended September 30, 2024, net sales totaled $30,976 million, a 3.7% increase from $29,868 million in the same period of 2023[34] Segment Performance - The Medical Devices segment reported a 11.7% increase in sales, reaching $4.7 billion, while Diagnostics sales decreased by 1.5% to $2.4 billion[4][10] - Abbott's Nutrition segment saw total sales of $2.1 billion, with U.S. sales up 10.4% and international sales down 7.9%[7][9] - Established Pharmaceuticals sales increased 2.7% on a reported basis and 7.0% on an organic basis in the third quarter of 2024, totaling $1.406 billion[13] - Worldwide Medical Devices sales increased 11.7% on a reported basis and 13.3% on an organic basis in the third quarter, totaling $4.747 billion[16] - Diabetes Care sales exceeded $1.6 billion, growing 19.1% on a reported basis and 20.7% on an organic basis[17] Guidance and Projections - The company maintains its full-year 2024 organic sales growth guidance of 9.5% to 10.0%, excluding COVID-19 testing-related sales[2][3] - Abbott projects full-year 2024 diluted earnings per share under GAAP of $3.34 to $3.40, with adjusted diluted earnings per share projected at $4.64 to $4.70[19] Shareholder Returns - Abbott declared a quarterly dividend of $0.55 per share, marking 403 consecutive quarterly dividends and 52 years of increased payouts[20] - Abbott's board authorized a new share repurchase program of up to $7 billion[2][3] Research and Development - Research and development expenses for Q3 2024 were $713 million, up 6.1% from $672 million in Q3 2023[30] - Research and Development (R&D) expenses for 9M24 were $2.014 billion, slightly down from $1.897 billion in 9M23, reflecting a decrease of 6.2%[42] COVID-19 Impact - COVID-19 testing sales decreased to $265 million in Q3 2024 from $305 million in the same quarter last year, impacting overall Diagnostics sales growth[10] - Excluding COVID-19 testing-related sales, global Core Laboratory Diagnostics sales grew 0.1% on a reported basis and increased 4.5% on an organic basis[11] Cost and Expenses - The company reported a total operating cost and expenses of $8,776 million for Q3 2024, a 3.3% increase from $8,496 million in Q3 2023[30] - The company recognized net after-tax charges of $473 million in Q3 2024 related to intangible amortization and other expenses[32] Future Outlook - The company anticipates continued compliance costs related to the European Union's Medical Device Regulations (MDR) and In Vitro Diagnostics Medical Device Regulations (IVDR)[59] - Future outlook includes ongoing restructuring and cost reduction initiatives, with a focus on improving operational efficiency and profitability[62]

Core Insights - Abbott reported third-quarter sales of $10.635 billion, reflecting a growth of 4.9% compared to $10.143 billion in the same quarter of 2023, with organic sales growth of 8.2% driven by strong performance in Medical Devices [1][26][30] - The company maintains its full-year 2024 organic sales growth guidance of 9.5% to 10.0%, excluding COVID-19 testing-related sales [2][22] - Abbott's diluted earnings per share (EPS) for the third quarter was $0.94, with adjusted diluted EPS of $1.21, marking a 14.6% increase from the previous year [2][30] Financial Performance - Total reported sales for the first nine months of 2024 reached $30.976 billion, a 3.7% increase from $29.868 billion in the same period of 2023 [32] - The company’s net earnings for the third quarter were $1.646 billion, up 14.6% from $1.436 billion in the prior year [30] - Abbott's operating earnings for the third quarter increased by 12.8% to $1.859 billion compared to $1.647 billion in the same quarter of 2023 [30] Business Segments - Medical Devices sales increased by 11.7% on a reported basis and 13.3% on an organic basis, with significant contributions from Diabetes Care and Structural Heart products [20] - Nutrition sales decreased by 0.3% on a reported basis but increased by 3.4% on an organic basis, driven by growth in Adult Nutrition [9][10] - Diagnostics sales were impacted by a decline in COVID-19 testing-related sales, with total diagnostics sales at $2.412 billion, down from $2.449 billion in the previous year [13][28] Strategic Initiatives - Abbott announced a new share repurchase program of up to $7 billion, reflecting confidence in its financial position [2] - The company launched Lingo™, a continuous glucose monitoring system available without a prescription, aimed at enhancing health and wellness [2] - Abbott's partnership with Medtronic aims to integrate its continuous glucose monitoring system with Medtronic's insulin delivery devices, enhancing product offerings in diabetes management [2] Market Outlook - Abbott's diversified business model positions it well for future growth, with expectations to achieve the upper end of its guidance ranges for the year [3] - The company continues to strengthen its portfolio through new product approvals and partnerships, indicating a proactive approach to market demands [1][2]

Core Insights - Abbott Laboratories is set to release its third-quarter earnings results on October 16, with analysts expecting earnings of $1.2 per share, an increase from $1.14 per share in the same period last year [1] - The company is projected to report revenue of $10.55 billion for the quarter [1] - Abbott's board declared a quarterly common dividend of 55 cents per share on September 19 [1] - Abbott shares experienced a decline of 0.6%, closing at $116.05 [1] Analyst Ratings - Raymond James analyst Jayson Bedford maintained an Outperform rating and raised the price target from $122 to $129, with an accuracy rate of 67% [2] - Evercore ISI Group analyst Vijay Kumar also maintained an Outperform rating, increasing the price target from $120 to $124, with an accuracy rate of 60% [2] - Jefferies analyst Raj Denhoy reiterated a Hold rating with a price target of $120, achieving an accuracy rate of 76% [2] - Piper Sandler analyst Adam Maeder initiated coverage with an Overweight rating and a price target of $131, holding an accuracy rate of 60% [2] - Citigroup analyst Joanna Wiensch maintained a Buy rating and raised the price target from $119 to $127, with an accuracy rate of 60% [2]

Big banks continue to highlight this week’s earnings lineup but several stocks are standing out from various industries that are in the top 40% of over 250 Zacks industries. Sporting a Zacks Rank #2 (Buy) here are three of these top-rated stocks that investors will want to consider as their Q3 results approach on Wednesday, October 16. Abbott Laboratories Industry: Medical Products Starting with a medical standout, Abbott Laboratories (ABT)  stock is attractive as a provider of pharmaceutical products, diag ...

Investors are always looking for stocks that are poised to beat at earnings season and Abbott Laboratories (ABT) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.That is because Abbott is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good ind ...

The stock of healthcare behemoth Abbott Laboratories (NYSE: ABT ) has experienced an uninspiring 2024 so far; in a year where the prime equity bellwether has generated solid returns of 23%, and even the healthcare cohort of the S&P 500Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensati ...

CHINA - 2024/09/17: In this photo illustration, Abbott Laboratories logo is displayed on a ... [+] smartphone with a S&P index website background. (Photo Illustration by Alvin Chan/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesAbbott (NYSE: ABT) will report its Q3 2024 results on Wednesday, Oct 16. We expect the company to post revenue of $10.6 billion and earnings of $1.20 on a per share and adjusted basis, aligning with the street expectations. We expect the company to p ...

In its upcoming report, Abbott (ABT) is predicted by Wall Street analysts to post quarterly earnings of $1.20 per share, reflecting an increase of 5.3% compared to the same period last year. Revenues are forecasted to be $10.56 billion, representing a year-over-year increase of 4.1%.The consensus EPS estimate for the quarter has undergone a downward revision of 0.2% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial est ...