Abbott Laboratories (NYSE:ABT) reported upbeat second-quarter results and raised its full-year adjusted earnings outlook on Thursday.
Adjusted earnings came in at $1.31 per share, topping the analyst consensus estimate of $1.28. Revenue increased 13% year over year to $12.59 billion, ahead of analysts’ expectations of $12.50 billion. On a comparable basis, sales rose 4.8%.
"Our second-quarter results reflect the momentum we are building," Chairman and CEO Robert B. Ford said. "We expect this momentum to continue and drive accelerating sales and earnings growth in the second half of the year."
Abbott raised its full-year 2026 adjusted earnings guidance to a range of $5.45 to $5.60 per share from its prior forecast of $5.38 to $5.58. The updated range brackets the analyst consensus estimate of $5.49 per share. The company reaffirmed its expectation for comparable sales growth of 6.5% to 7.5% for the year.
For the third quarter, Abbott forecast adjusted earnings of $1.38 to $1.46 per share, compared with the Wall Street estimate of $1.42 per share.
Abbott shares gained 0.9% to $99.75 in pre-market trading.
These analysts made changes to their price targets on Abbott following earnings announcement.
- BTIG analyst Marie Thibault maintained Abbott with a Buy and raised the price target from $131 to $134.
- Evercore ISI Group analyst Vijay Kumar maintained the stock with an Outperform rating and raised the price target from $112 to $120.
- RBC Capital analyst Shagun Singh reiterated the stock with an Outperform rating and maintained a $130 price target.
Considering buying ABT stock? Here’s what analysts think:
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