Abbott Q1 EPS, Sales Rise, ANTM Hits All-time High, Healthcare Services’ Q1 Results Trump Estimates

The following are some of the healthcare companies that reported quarterly financial results on Wednesday.

1. Abbott (ABT) has reported strong earnings and sales for the first quarter ended March 31, 2022.

For the first quarter of 2022, adjusted net earnings increased to $3.08 billion or $1.73 per share on net sales of $11.9 billion. This compares with adjusted earnings of $2.37 billion or $1.32 per share and net sales of $10.46 billion in the year-ago quarter.

Looking ahead to full-year 2022, the company continues to expect adjusted earnings per share of at least $4.70, while the consensus analysts’ estimate is $4.84. Earnings per share on an adjusted basis in 2021 were $5.21.

Abbott’s cash dividend of $0.47 per share is payable May 16, 2022 to shareholders of record at the close of business on April 15, 2022.

ABT closed Wednesday’s trading at $122.64, up 2.22%.

2. Shares of health company Anthem Inc. (ANTM) touched an all-time high of $532.16 in intraday trading yesterday, thanks to the strong financial performance in the first quarter of 2022.

Shareholders’ net income for the first quarter of 2022 was $1.81 billion or $7.39 per share on total revenue of $38.09 billion. This compares with shareholders’ net income of $1.67 billion or $6.71 per share and total revenue of $32.4 billion in the year-earlier quarter.

On an adjusted basis, shareholders’ net income was $2.01 billion or $8.25 per share in the first quarter of 2022 compared to $1.74 billion or $7.01 per share in the year-ago quarter.

The company has 4 reportable segments – Commercial & Specialty Business (comprised of Individual, Group risk-based, Group fee-based, and BlueCard businesses); Government Business (comprised of the Medicaid, Medicare, and Federal Health Products & Services businesses); IngenioRx; and Other (comprised of the Diversified Business Group and corporate expenses not allocated to other reportable segments).

Based on the strong first quarter results, the company now expects full-year 2022 adjusted net income to be greater than $28.40 per share while the Wall Street analysts are expecting earnings of $28.49 per share. Adjusted net income was $25.98 per share in 2021.

The company’s second-quarter 2022 dividend of $1.28 per share is payable to shareholders of record at the close of business on June 10, 2022.

ANTM closed Wednesday’s trading at $529.84, up 2.48%.

Shares of Healthcare Services Group Inc. (HCSG) gained nearly 20% yesterday, following its first-quarter financial results.

For the first quarter of 2022, the net income declined to $11.3 million or $0.15 per share on revenue of $426.8 million. Analysts polled by Thomson Reuters were expecting earnings of $0.06 per share and revenue of $424.77 million for the quarter.

This compares with net income of $24.7 million or $0.33 per share and revenue of $407.8 million in the first quarter of 2021.

The company’s quarterly cash dividend of $0.2125 per common share is payable on June 24, 2022 to shareholders of record at the close of business on May 20, 2022.

HCSG closed Wednesday’s trading at $19.91, up 19.94%.

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