Abbott (ABT) Stock Sinks As Market Gains: Here's Why

In the latest trading session, Abbott (ABT) closed at $114.14, marking a -1.18% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.82%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 1.77%.The maker of infant formula, medical devices and drugs's stock has dropped by 0.81% in the past month, exceeding the Medical sector's loss of 4.06% and lagging the S&P 500's gain of 0.8%.Investors will be eagerly watching for the performance of Abbott in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.34, reflecting a 12.61% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $11.03 billion, reflecting a 7.71% rise from the equivalent quarter last year.For the full year, the Zacks Consensus Estimates project earnings of $4.67 per share and a revenue of $42.01 billion, demonstrating changes of +5.18% and +4.73%, respectively, from the preceding year.Investors might also notice recent changes to analyst estimates for Abbott. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, Abbott is carrying a Zacks Rank of #3 (Hold).In terms of valuation, Abbott is currently trading at a Forward P/E ratio of 24.73. This represents a discount compared to its industry's average Forward P/E of 26.18.Investors should also note that ABT has a PEG ratio of 2.72 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Medical - Products industry held an average PEG ratio of 2.44.The Medical - Products industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 130, positioning it in the bottom 49% of all 250+ industries.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.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks