Abbott (ABT) Increases Despite Market Slip: Here's What You Need to Know

In the latest trading session, Abbott (ABT) closed at $133.17, marking a +0.79% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.43%. Elsewhere, the Dow lost 1.01%, while the tech-heavy Nasdaq lost 0.47%.Coming into today, shares of the maker of infant formula, medical devices and drugs had gained 12.18% in the past month. In that same time, the Medical sector gained 4.6%, while the S&P 500 gained 2.6%.Investors will be eagerly watching for the performance of Abbott in its upcoming earnings disclosure. In that report, analysts expect Abbott to post earnings of $1.07 per share. This would mark year-over-year growth of 9.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.39 billion, up 4.28% from the year-ago period.For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.15 per share and a revenue of $44.35 billion, representing changes of +10.28% and +5.73%, respectively, from the prior year.It's also important for investors to be aware of any recent modifications to analyst estimates for Abbott. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.1% rise in the Zacks Consensus EPS estimate. Abbott is currently a Zacks Rank #3 (Hold).Valuation is also important, so investors should note that Abbott has a Forward P/E ratio of 25.68 right now. For comparison, its industry has an average Forward P/E of 20.15, which means Abbott is trading at a premium to the group.It's also important to note that ABT currently trades at a PEG ratio of 2.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Medical - Products industry had an average PEG ratio of 2.31.The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 84, this industry ranks in the top 34% of all industries, numbering over 250.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Abbott Laboratories (ABT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks