Should You Pick Abbott Stock At $105 After An Upbeat Q1? [Forbes]
Abbott Laboratories (ABT)
Last abbott laboratories earnings: 4/16 07:30 am
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Source: Forbes
Vegas, Nevada. (Photo by Brendan Smialowski / AFP) (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images) Abbott (NYSE: ABT) recently reported its Q1 results, with revenues above and earnings exceeding our expectations . The company reported revenue of $10 billion and earnings of $0.98 on a per-share and adjusted basis, compared to our estimates of $9.9 billion and $0.95, respectively. The company saw strong growth for its medical devices business, while diagnostics sales trended lower. In this note, we discuss Abbott's stock performance, key takeaways from its recent results, and valuation. Firstly, looking at its stock performance, ABT stock has seen little change, moving slightly from levels of $110 in early January 2021 to around $105 now, vs. an increase of about 35% for the S&P 500 over this roughly three-year period. Overall, the performance of ABT stock with respect to the index has been lackluster. Returns for the stock were 29% in 2021, -22% in 2022, and 0% in 2023. In compa
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ABT
Earnings
- 4/17/24 - Beat
ABT
Sec Filings
- 5/2/24 - Form 10-Q
- 5/1/24 - Form 8-K
- 4/30/24 - Form 4
- ABT's page on the SEC website