Abbott (ABT) Stock Moves -0.3%: What You Should Know

In the latest trading session, Abbott (ABT) closed at $129.89, marking a -0.3% move from the previous day. This change was narrower than the S&P 500's 0.91% loss on the day. At the same time, the Dow lost 1.5%, and the tech-heavy Nasdaq lost 1.96%.Shares of the maker of infant formula, medical devices and drugs witnessed a loss of 0.16% over the previous month, beating the performance of the Medical sector with its loss of 1.88% and the S&P 500's loss of 7.38%.The investment community will be paying close attention to the earnings performance of Abbott in its upcoming release. 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.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.15 per share and a revenue of $44.35 billion, indicating changes of +10.28% and +5.73%, respectively, from the former year.It is also important to note the recent changes to analyst estimates for Abbott. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Abbott is holding a Zacks Rank of #3 (Hold) right now.Digging into valuation, Abbott currently has a Forward P/E ratio of 25.32. This indicates a premium in contrast to its industry's Forward P/E of 18.2.It is also worth noting that ABT currently has a PEG ratio of 2.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Products industry currently had an average PEG ratio of 2.01 as of yesterday's close.The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 133, finds itself in the bottom 48% echelons of all 250+ industries.The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>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