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ABT

Abbott Laboratories

6/19/2013, 12:13 PM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
| Dividends
| M&A
| On the move

Friday, June 14, 12:52 PM Abbott Laboratories (ABT) declares $0.14/share quarterly dividend, in line with previous. Forward yield 1.52%. For shareholders of record July 15. Payable Aug. 15. Ex-div date July 11. The board authorized to repurchase stock of $3B, replacing the prior $5B program that was completed. (PR) Comment! [Dividends]
Friday, June 7, 1:24 PM Jefferies is out with some price target revisions and color after conducting a "global pharma review." Rundown: Top U.S. pick Abbott Laboratories (ABT +1.9%) reiterated at Buy, PT lowered to $44 from $46; top global pick Novartis (NVS +0.3%) has "positive growth inflection potential" in FY14; AbbVie (ABBV +0.6%), Roche (RHHBY.OB +2.5%), and Sanofi (SNY +0.5%) offer "attractive entry points" but ABBV's PT is lowered to $51 from $54; Johnson & Johnson's (JNJ +0.2%) PT lowered to $91 from $97; Merck (MRK -0.3%) has its price target raised to $56 from $54 and Pfizer (PFE +1.3%) has its target lowered slightly to $32. (Previous: Jefferies SOTP analysis) 3 Comments [Healthcare, On the Move]
Tuesday, June 4, 6:01 AM AstraZeneca (AZN) is ending the development of rheumatoid arthritis pill Fostamatinib following mixed results in Phase II and III trials, including in comparison with Abbott's (ABT) Humira. AstraZeneca will take a charge of $140M on its Q2 results and return the rights to Fostamatinib to U.S. partner Rigel Pharmaceuticals (RIGL), whose shares are -6.8%. AstraZeneca's are -0.2%. Comment! [Healthcare]
Tuesday, May 28, 2:42 PM More from Jefferies' "proprietary sum of the parts analysis" of big pharma: Price target on Bristol Myers Squibb (BMY +0.7%) raised to $53.50 from $45, Buy rating reiterated; price target on Johnson & Johnson (JNJ +0.6%) raised to $97 from $90, reiterated at Hold; AbbVie (ABBV -0.5%) reiterated at Buy, price target raised to $54 from $51; Novartis (NVS -1.5%) is "top European pick"; price target for Abbott (ABT +1.3%), the "top U.S. pick", is raised to $46 from $43. (More big pharma: DB upgrades GSK) 1 Comment [Healthcare, On the Move]
Tuesday, May 28, 8:10 AM Add Eli Lilly (LLY) to Jefferies' big pharma upgrades, as the company is raised to Hold from Underperform (price target to $49 from $44) on a lack of near term downside risks and a healthy dividend. Nevertheless, expect FY14 EPS to come in 5-10% below consensus, analyst Jeff Holford says. Meanwhile, Merck (MRK), Abbott (ABT), and Novartis (NVS) are all top "restructuring plays." Jefferies says "the probability of significant spin-outs" for MRK should increase in 2014 and puts a sum-of-the-parts valuation of $54.30 on the stock. Comment! [Healthcare]
Monday, May 20, 4:33 AM Goldman upgrades Abbott Laboratories (ABT) to Buy from Neutral saying H2 business pressures have "resolved into a more positive trajectory" and valuation has become relatively more compelling thanks to the rally in the S&P and increased peer multiples. Price target: $44 from $38. Comment! [Healthcare]
Wednesday, May 15, 6:03 PM Third Point discloses new positions in: Anadarko Petroleum (APC), BE Aerospace (BEAV), Cabot Oil (COG), Chimera Investment (CIM), Hess (HES), Hilshire Brands (HSH), Tiffany (TIF), Thermo Fisher (TMO), and Virgin Media (MMED). It raises stakes in: AbbVie (ABBV) and International Paper (IP), and exits Abbott Labs (ABT), Capital One (COF), Coca-Cola Enterprises (CCE), Herbalife (HLF), Illumina (ILMN), MetLife (MET), Morgan Stanley (MS) and Tesoro (TSO). (13-F) 4 Comments
Monday, May 6, 1:36 PM Merck (MRK -1.3%) gets no love today from the FDA's approval of Liptruxet late Friday, as the stock is likely dragged down with the rest of the big pharma names on the back of a CNBC report that criticizes their earnings so far. The article points to the fact that pharmaceutical companies have seen a 4.7% contraction in earnings, and a 3.2% drop in revenue this quarter. Why? Morningstar's Damien Cover says there are two primary reasons: FX impact, especially from the yen, and intensified generic competition from patent losses. Comment! [Healthcare, On the Move]
Thursday, April 18, 10:25 AM Fresh off Wednesday's earnings call, Abbott Labs (ABT -1.3%) receives FDA approval for its intraocular lens for cataract patients with pre-existing astigmatism. The company says it will launch the lens soon. Comment!
Wednesday, April 17, 8:59 AM More on Abbott Labs (ABT -0.8%) Q1: net profit falls 56% to $544M following its split from AbbVie, which contributed $891M to the bottom line in Q1 2012. Adjusted Q1 2013 EPS from continuing ops +3%. Revenue +1.8% and excluding forex fluctuations +3.5%, boosted by a "strong performance in nutrition and diagnostics, as well as...emerging markets." Forecasts Q2 EPS of $0.43-0.45 vs consensus of $0.44 and FY EPS of $1.98-2.04 vs $2.01. Comment! [Healthcare, Earnings]
Wednesday, April 17, 7:46 AM Abbott Labs (ABT): Q1 EPS of $0.42 beats by $0.02. Revenue of $5.38B misses by $0.04B. (PR) Comment! [Earnings, Breaking News, Healthcare]
Wednesday, April 17, 12:05 AM Notable earnings before Wednesday’s open: ABT, ASML, BAC, BK, DGX, DOV, FCFS, HBAN, MAT, PNC, STJ, TXT Comment! [Earnings]
Tuesday, April 16, 5:30 PM Notable earnings before Wednesday’s open: ABT, ASML, BAC, BK, DGX, DOV, FCFS, HBAN, MAT, PNC, STJ, TXT Comment! [Earnings]
Monday, April 15, 9:25 AM Abbott Laboratories (ABT) recalls FreeStyle InsuLinx Blood Glucose meters, saying that for blood glucose levels of 1,024 milligrams per deciliter or higher, the meter will read far lower than it should which "can lead to a delay in identifying the problem or incorrect treatment." Shares -0.35% premarket. Comment! [Healthcare]
Friday, April 12, 3:00 PM Abbott Laboratories (ABT -0.8%) slips on a tepid Neutral intitiation at Credit Suisse with a price target of $40. The firm says the stock trades in line with its peers, with only modest upside potential relative to its DCF-based target price. Comment! [Healthcare]
Wednesday, April 10, 1:37 PM Jefferies raises its price targets on big pharma names Pfizer (PFE +2.6%) ($33), Merck (MRK +2.7%) ($48), Johnson & Johnson (JNJ +0.7%) ($85), Eli Lilly (LLY +1.4%) ($44), Bristol-Myers Squibb (BMY +0.5%) ($45), AbbVie (ABBV +1.2%) ($50), and Abbot Laboratories (ABT +1.1%) ($42). "We remain positive on pharmaceuticals," Jefferies says, "valuation is attractive for most stocks." 6 Comments [Healthcare]

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