Abbott Laboratories (NYSE:ABT) reported muted sales in the third quarter and narrowed fiscal 2025 guidance on Wednesday.
The company reported third-quarter sales of $11.37 billion, slightly missing the consensus of $11.40 billion. The U.S. MedTech giant reported adjusted earnings of $1.30, in line with Wall Street estimates and within the management guidance of $1.28-$1.32.
“Our third-quarter results demonstrate our ability to deliver consistent, high-quality performance,” said Robert B. Ford, chairman and chief executive officer, Abbott. “Our differentiated product pipeline continues to power our performance and positions Abbott to deliver durable long-term value to our shareholders.”
Abbott Laboratories narrowed its fiscal 2025 adjusted earnings guidance from $5.10 to $5.20 per share to $5.12 to $5.18 per share, compared to the consensus of $5.15 per share. In the second quarter, Abbott narrowed its full-year 2025 adjusted earnings guidance from $5.05 to $5.25 per share to $5.10 to $5.20 per share.
The company reaffirmed its organic sales growth forecast of 7.5%-8.0%, or 6.0% to 7.0% when including sales related to COVID-19 testing.
Abbott shares fell 1% to $128.18 on Thursday.
These analysts made changes to their price targets on Abbott following earnings announcement.
- Wells Fargo analyst Lawrence Biegelsen maintained Abbott with an Overweight rating and raised the price target from $142 to $146.
- Evercore ISI Group analyst Vijay Kumar maintained the stock with an Outperform rating and cut the price target from $144 to $142.
- Raymond James analyst Jayson Bedford maintained Abbott with an Outperform rating and raised the price target from $141 to $146.
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