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Market VisionWednesday, Jul 17, 2024 10:40 pm ET

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Abbott Laboratories (ABT.US) will announce its second-quarter earnings after the bell on Thursday, July 18. Analysts expect the company to report revenues of $10.37 billion, up 3.7% YoY; earnings per share of $1.10, up 1.9% YoY.

“We expect a decent second quarter, albeit slightly below the guide on the foreign exchange side,” said the research department at Wells Fargo. “We believe the strong underlying fundamentals support revenues and earnings that are modestly above consensus, and we expect the full-year EPS guide to at least match the beat in the second quarter.”

Over the past two years, Abbott has beaten its quarterly revenues and earnings estimates.

Over the past three months, Abbott's revenue estimates have been raised once and lowered 15 times; its EPS estimates have been raised four times and lowered eight times.

Stephen Simpson, analyst at Seekingalpha, said: “We expect Abbott to do well in the quarter ahead and our three-year expectations are slightly above the S&P 500. We do have concerns about Abbott, but the company still has a strong presence in the heart and diabetes space and should continue to grow well.”

According to TipRanks data, Wall Street analysts have a “strong buy” rating on Abbott, with an average target price of $125.77, implying a 20% upside.

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