Shares of Abbott (ABT) gained in trading after the company reported mixed results. The medical devices company’s adjusted earnings increased 12.6% year-over-year to $1.34 per share, slightly ahead of consensus estimates of $1.33 per share.
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Furthermore, the company’s revenues increased 7.2% year-over-year to $10.9 billion in the fourth quarter. This fell short of Street estimates of $11 billion. Moreover, ABT’s medical devices business comprised more than 40% of its total revenues in Q4.
ABT Issues FY25 Guidance
Looking ahead, the company has projected its organic sales to be in the range of 7.5% to 8.5% in FY25 with adjusted earnings between $5.05 and $5.25 per share. Additionally, in Q1 ABT has projected adjusted earnings in the range of $1.05 to $1.09 per share. For reference, analysts were expecting the company to report earnings of $5.16 per share in FY25.
ABT Declares Quarterly Dividend
Furthermore, Abbott declared a quarterly dividend of $0.59 per share payable February 14 to shareholders of record at the close of business on January 15, 2025. Notably, Abbott has increased its dividend payout for 53 consecutive years and is a Dividend Aristocrat.
Is ABT a Good Stock to Buy?
Analysts remain bullish about ABT stock, with a Strong Buy consensus rating based on a unanimous 10 Buys. Over the past year, ABT has increased by 4.4%, and the average ABT price target of $135.80 implies an upside potential of 16.3% from current levels. These analyst ratings are likely to change following ABT’s results today.
