Abbott Laboratories’s Stock Price Plummets to $126.71, Marking a 2.45% Drop: Is it Time to Buy?

Abbott Laboratories (ABT)

126.71 USD -3.18 (-2.45%) Volume: 9.52M

Abbott Laboratories’s stock price stands at 126.71 USD, witnessing a dip of -2.45% this trading session with a trading volume of 9.52M, however, it has demonstrated a promising YTD growth of +12.02%, showing resilience and potential for investors.

Latest developments on Abbott Laboratories

Abbott Laboratories (ABT) has been facing a series of legal challenges recently, with a judge ordering a retrial in a case involving infant formula for premature infants that Abbott and Reckitt had previously won. This news has led to a fall in Abbott and Reckitt’s stock prices, causing concern among investors. Despite this setback, some analysts believe that Abbott Labs stock still holds potential, with Bank of America maintaining a $150 target on the stock. Citi also continues to support Abbott stock with a Buy rating and a $160 target. As the healthcare sector continues to evolve, many are still considering Abbott Laboratories as a strong long-term investment option.

Abbott Laboratories on Smartkarma

Analysts at Baptista Research have published a bullish report on Abbott Laboratories, highlighting the company’s strong performance in the third quarter of 2024. With an organic sales growth of over 8% and adjusted earnings per share of $1.21, Abbott has demonstrated its ability to effectively execute its multifaceted strategy. The U.S. Pediatric Nutrition segment stood out with a 12% increase, driven by gains in the infant formula business.

A look at Abbott Laboratories Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Abbott Laboratories, a company that specializes in health care products and services, has received a range of scores based on different factors. The company scored well in areas such as dividend and growth, indicating a positive long-term outlook for investors looking for stable returns and potential for expansion. In terms of momentum, Abbott Laboratories received the highest score possible, suggesting strong market performance and investor interest in the company.

However, Abbott Laboratories scored lower in resilience, which may indicate some weaknesses or challenges in the company’s ability to withstand economic downturns or industry disruptions. Overall, with a mix of scores across different factors, Abbott Laboratories presents a promising investment opportunity for those seeking a company with solid growth potential and a strong market presence in the health care industry.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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