Abbott Laboratories (ABT, Financial) announced its financial results for the second quarter of fiscal year 2024, revealing a net profit of $1.297 billion, a decrease of 5.33% compared to the previous year. The company reported an operating revenue of $10.377 billion, marking an increase of 4% year-over-year. Basic earnings per share stood at $0.74.
The balance sheet data showed that Abbott's total liabilities were $33.457 billion, including short-term debt of $1.615 billion. The company's debt-to-equity ratio was 2.19, and the current ratio was 1.69, indicating its ability to meet short-term obligations.
Regarding institutional analysis, as of October 17, 2024, 22 institutions had provided target price predictions for Abbott, with an average target price of $127.09. The lowest target price was set at $107.00, while the highest was at $143.00.
Abbott Laboratories is known for producing and selling cardiovascular and diabetes devices, nutrition products for adults and children, diagnostic equipment and test kits, and branded generic medicines. Their product line includes items like pacemakers, implantable cardioverter defibrillators, neuromodulation devices, coronary stents, catheters, infant formula, adult nutritional drinks, continuous glucose monitors, and immunoassay and point-of-care diagnostic equipment. Approximately 60% of Abbott's sales come from outside the United States.
