AbbVie Inc (ABBV) reported quarterly earnings results on Friday, Jul-29-2016. The company said it had a profit of $1.26 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $1.20. The company posted revenue of $6452.00 million in the period, compared to analysts expectations of $6207.43 million. The company’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 EPS.
Many Wall Street Analysts have commented on AbbVie Inc. AbbVie Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Jun 8, 2016.
AbbVie Inc closed down -0.18 points or -0.28% at $64.72 with 65,50,935 shares getting traded on Thursday. Post opening the session at $64.79, the shares hit an intraday low of $63.93 and an intraday high of $65.06 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on Jun 28, 2016, Laura J Schumacher (Executive Vice President) sold 186,106 shares at $60.07 per share price. According to the SEC, on Jun 3, 2016, Richard A Gonzalez (Chairman of the Board and CEO) sold 285,953 shares at $63.87 per share price. On May 12, 2016, Timothy J. Richmond (SVP, Human Resources) sold 21,583 shares at $63.52 per share price, according to the Form-4 filing with the securities and exchange commission.
AbbVie Inc. (AbbVie) is a global research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company’s products are focused on treating conditions such as chronic autoimmune diseases including rheumatoid arthritis psoriasis and Crohn’s disease; hepatitis C (HCV); human immunodeficiency virus (HIV); endometriosis; thyroid disease; Parkinson’s disease; complications associated with chronic kidney disease and cystic fibrosis and other health conditions such as low testosterone. AbbVie also has a pipeline of new medicines including over 30 compounds or indications in Phase II or Phase III development across a range of medical specialties such as immunology virology/liver disease oncology renal disease neurological diseases and women’s health. The Company’s product portfolio includes HUMIRA HCV products Additional Virology products Metabolics/Hormones products Endocrinology products and other products.