#9 - Abbott Laboratories (NYSE:ABT)
Abbott Laboratories (NYSE: ABT) is down 30% after hitting its all-time high at the end of December 2021. The narrative seems to be that investors are expecting the company’s pandemic-inspired growth to be coming to an end. However, that wasn’t the case when the company reported earnings in April. And analysts tracked by MarketBeatsuggest that the company will see a year-over-year EPS gain of 8% in the second quarter.
We believe that’s a more likely outcome. Abbott operates in four distinct verticals that give it multiple ways to generate revenue. Of particular interest is the company’s medical devices sector which includes products geared towards the treatment and management of diabetes. The consensus price target for ABT stock shows a gain of nearly 25%. And in December 2021, Abbott joined the exclusive Dividend Kings club by raising its dividend for the 50th consecutive year.
About Abbott Laboratories
Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.
Read More - Current Price
- $113.39
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 12 Buy Ratings, 4 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $129.67 (14.4% Upside)
