Abbott (ABT) Stock Falls Amid Market Uptick: What Investors Need to Know

Abbott (ABT) ended the recent trading session at $113.04, demonstrating a -0.69% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 0.55%. Elsewhere, the Dow lost 0.06%, while the tech-heavy Nasdaq added 1.24%.Market participants will be closely following the financial results of Abbott in its upcoming release. The company plans to announce its earnings on January 22, 2025. The company is forecasted to report an EPS of $1.34, showcasing a 12.61% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $11.02 billion, indicating a 7.64% upward movement from the same quarter last year.It's also important for investors to be aware of any recent modifications to analyst estimates for Abbott. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% upward. Abbott currently has a Zacks Rank of #2 (Buy).Valuation is also important, so investors should note that Abbott has a Forward P/E ratio of 22.15 right now. This indicates a premium in contrast to its industry's Forward P/E of 18.88.It is also worth noting that ABT currently has a PEG ratio of 2.43. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Medical - Products industry currently had an average PEG ratio of 2.19 as of yesterday's close.The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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