Abbott (ABT) Stock Moves -0.07%: What You Should Know

Abbott (ABT) ended the recent trading session at $135.87, demonstrating a -0.07% swing from the preceding day's closing price. This change was narrower than the S&P 500's 1.59% loss on the day. Meanwhile, the Dow experienced a drop of 0.45%, and the technology-dominated Nasdaq saw a decrease of 2.78%.Shares of the maker of infant formula, medical devices and drugs witnessed a gain of 6.34% over the previous month, beating the performance of the Medical sector with its gain of 1.73% and the S&P 500's loss of 2.23%.The upcoming earnings release of Abbott will be of great interest to investors. On that day, Abbott is projected to report earnings of $1.07 per share, which would represent year-over-year growth of 9.18%. Our most recent consensus estimate is calling for quarterly revenue of $10.39 billion, up 4.28% from the year-ago period.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.15 per share and revenue of $44.35 billion, indicating changes of +10.28% and +5.73%, respectively, compared to the previous year.It's also important for investors to be aware of any recent modifications to analyst estimates for Abbott. Such recent modifications usually signify the changing landscape 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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, there's been no change in the Zacks Consensus EPS estimate. Currently, Abbott is carrying a Zacks Rank of #3 (Hold).Looking at valuation, Abbott is presently trading at a Forward P/E ratio of 26.43. This denotes a premium relative to the industry's average Forward P/E of 20.It's also important to note that ABT currently trades at a PEG ratio of 2.54. 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 average PEG ratio for the Medical - Products industry stood at 2.07 at the close of the market yesterday.The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 129, this industry ranks in the bottom 49% of all industries, numbering over 250.The Zacks Industry Rank gauges the strength of our 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.To follow ABT in the coming trading sessions, be sure to utilize Zacks.com.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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks