Abbott Laboratories (ABT) has been under the lens for various reasons. In a significant development, the company was ordered to pay a hefty fine of $495 Million in a baby formula lawsuit resulting in a significant slide in shares. Despite the bearish move, ABT's fundamentals remain strong mainly due to its diversified business. ABT, preferred by 76% of institutional investors, outperforms its competitors on most days. An upgrade from an analyst saw the stock price up by 0.2%. However, its Q2 2024 earning report fell below expectations, missing EPS forecasts, despite a 0.4% rise in stock prices. Amidst significant developments, ABT is leading in device sales, recording a boost in Q2 and raising full-year guidance.
The company faced a setback with a large drop in COVID-19 testing revenue, an aspect getting investor attention. The stock had a downfall due to baby formula suits but also an upside due to device sales. Despite the trial defeat and the resistance level, ABT is considered a mix of growth and value. Additionally, ABT's Q1 2024 Earnings Call Transcript, second-quarter 2024 results, and raised full-year guidance showed a significant surge in the prices.
Abbott Laboratories ABT News Analytics from Wed, 24 Jan 2024 08:00:00 GMT to Sat, 03 Aug 2024 16:33:32 GMT - Rating -3 - Innovation 2 - Information 7 - Rumor -5
