Abbott Laboratories (ABT) earnings report for the 1st quarter of their 2020 fiscal year
Category: Stock Market and Abbott Laboratories (ABT)
Date: 27 January 2022 Stock Price of Abbott (ABT): $120.71 Market Capital of Abbott Laboratories: 212.3 billion We take a look at the earnings report for the 4th quarter of their 2021 fiscal year of Abbott Laboratories a firm that provides products in diagnostics, medical devices, nutritional and branded medicines that employs more than 100 000 people in over 160 countries.
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About Abbott Laboratories
About Abbott: Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 107,000 colleagues serve people in more than 160 countries.
Overview of Abbott Laboratories' 1st quarter 2020 earnings report
- Fourth-quarter sales of $11.5 billion increased 7.2 percent on a reported basis and 7.7 percent on an organic basis, which excludes the impact of foreign exchange.
- Fourth-quarter GAAP diluted EPS was $1.11 and adjusted diluted EPS, which excludes specified items, was $1.32.
- Full-year 2021 GAAP diluted EPS from continuing operations was $3.94 and adjusted diluted EPS from continuing operations was $5.21, reflecting 42.7% growth versus the prior year.1
- Global COVID-19 testing-related sales were $2.3 billion in the fourth quarter and $7.7 billion for the full-year. Abbott has distributed more than 1.4 billion COVID-19 tests since the start of the pandemic.
- Abbott issues full-year 2022 guidance for diluted EPS from continuing operations on a GAAP basis of at least $3.43 and full-year adjusted diluted EPS from continuing operations of at least $4.70.
- Full-year 2022 guidance includes an initial COVID-19 testing-related sales forecast of $2.5 billion, which Abbott expects to occur early in the year and will update on a quarterly basis.
- Abbott's R&D pipeline continues to deliver a steady cadence of new products. Select 2021 highlights include U.S. Centers for Medicare & Medicaid Services expanded reimbursement for MitraClip®, U.S. launches of Amplatzer® Amulet®, NeuroSphere™ Virtual Clinic, and Portico® transcatheter aortic valve replacement (TAVR) system, along with the international launch of Navitor™ TAVR system.
Abbott Laboratories' management commentary on their 1st quarter 2020 earnings report
ABBOTT PARK, Ill., Jan. 26, 2022 /PRNewswire/ -- Abbott (NYSE: ABT) today announced financial results for the fourth quarter and full year ended Dec. 31, 2021, and issued its financial outlook for 2022.
"2021 was an outstanding year for Abbott," said Robert B. Ford, chairman and chief executive officer, Abbott. "We achieved more than 40 percent EPS growth, exceeding the baseline EPS guidance we set at the beginning of last year and, importantly, continued to advance our new product pipeline across the portfolio."
"2021 was an outstanding year for Abbott," said Robert B. Ford, chairman and chief executive officer, Abbott. "We achieved more than 40 percent EPS growth, exceeding the baseline EPS guidance we set at the beginning of last year and, importantly, continued to advance our new product pipeline across the portfolio."
ABBOTT'S EARNINGS-PER-SHARE GUIDANCE
Abbott projects full-year 2022 diluted earnings per share from continuing operations under GAAP of at least $3.43. Abbott forecasts specified items for the full-year 2022 of $1.27 per share primarily related to intangible amortization, restructuring and cost reduction initiatives, expenses associated with acquisitions and other net expenses. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be at least $4.70 for the full-year 2022.
Abbott projects first-quarter 2022 diluted earnings per share from continuing operations under GAAP of at least $1.20. Abbott forecasts specified items for the first-quarter 2022 of $0.30 per share primarily related to intangible amortization, restructuring and cost reduction initiatives, expenses associated with acquisitions and other net expenses. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be at least $1.50 for the first quarter.
ABBOTT DECLARES 392ND CONSECUTIVE QUARTERLY DIVIDEND
On Dec. 10, 2021, the board of directors of Abbott declared the company's quarterly dividend of $0.47 per share. Abbott's cash dividend is payable Feb. 15, 2022 to shareholders of record at the close of business on Jan. 14, 2022.
Abbott has increased its dividend payout for 50 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.
Abbott projects full-year 2022 diluted earnings per share from continuing operations under GAAP of at least $3.43. Abbott forecasts specified items for the full-year 2022 of $1.27 per share primarily related to intangible amortization, restructuring and cost reduction initiatives, expenses associated with acquisitions and other net expenses. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be at least $4.70 for the full-year 2022.
Abbott projects first-quarter 2022 diluted earnings per share from continuing operations under GAAP of at least $1.20. Abbott forecasts specified items for the first-quarter 2022 of $0.30 per share primarily related to intangible amortization, restructuring and cost reduction initiatives, expenses associated with acquisitions and other net expenses. Excluding specified items, projected adjusted diluted earnings per share from continuing operations would be at least $1.50 for the first quarter.
ABBOTT DECLARES 392ND CONSECUTIVE QUARTERLY DIVIDEND
On Dec. 10, 2021, the board of directors of Abbott declared the company's quarterly dividend of $0.47 per share. Abbott's cash dividend is payable Feb. 15, 2022 to shareholders of record at the close of business on Jan. 14, 2022.
Abbott has increased its dividend payout for 50 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.
Abbott Laboratories (ABT) stock price chart for the last 5 years
The image below obtained from shows the stock price history of Abbott Laboratories (NYSE: ABT) for the last 5 years.. That's a return of 167% provided to Abbott stockholders over the last 5 years.
The stock of Abbott is trading at a lot closer to its 52 week high than it is to its 52 week low which to us is a clear indication that the short term sentiment and momentum of Abbot is stock is positive.
The stock of Abbott is trading at a lot closer to its 52 week high than it is to its 52 week low which to us is a clear indication that the short term sentiment and momentum of Abbot is stock is positive.
Abbott Laboratories (NYSE: ABT) stock valuation
Based on Abbott Laboratories latest earnings report what do we value their stock at? Based on Abbott Laboratories earnings reported our valuation model provides a target price (full value price) at $79.70 per Abbott Laboratories stock. We therefore believe that the stock of Abbott Laboratories is overvalued.
We usually recommend long term fundamental or value investors look to enter a stock at least 10% below our target (full value) price which in this case is $79.70. We therefore believe a good entry point into Abbott Laboratories stock is at $71.70 or below. We expect the stock price of Procter & Gamble's to pull back in coming weeks and months to levels closer to our target price price (full value price) price of $79.70
We usually recommend long term fundamental or value investors look to enter a stock at least 10% below our target (full value) price which in this case is $79.70. We therefore believe a good entry point into Abbott Laboratories stock is at $71.70 or below. We expect the stock price of Procter & Gamble's to pull back in coming weeks and months to levels closer to our target price price (full value price) price of $79.70
Next earnings release of Abbott Laboratories
It is expected that Abbott Laboratories will release their Q2 2020 earnings report in late July 2020