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Abbott Laboratories ABT Stock Quote

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Morningstar‘s Stock Analysis ABT

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Abbott Makes Steady Progress in Rebuilding Its Infant Formula Business; No Change to Our FVE

Debbie S. Wang Senior Equity Analyst

Analyst Note

| Debbie S. Wang |

Narrow-moat Abbott posted third-quarter results that generally put the firm on track to meet our full-year projections. At first blush, we may adjust our revenue estimate for 2022 upward to reflect milder declines in COVID-19 antigen tests than we’d originally anticipated, but this wouldn't be substantial enough to shift our fair value estimate of $104. Quarterly revenue rose 1% in constant currency year over year, with international markets consistently outperforming the U.S. across the different divisions, though unfavorable currency translation muted those gains.

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Key Statistics ABT

Company Profile ABT

Business Description

Abbott manufactures and markets medical devices, adult and pediatric nutritional products, diagnostic equipment and testing kits, and branded generic drugs. Products include pacemakers, implantable cardioverter defibrillators, neuromodulation devices, coronary stents, catheters, infant formula, nutritional liquids for adults, molecular diagnostic platforms, and immunoassays and point-of-care diagnostic equipment. Abbott derives approximately 60% of sales outside the United States.

100 Abbott Park Road
Abbott Park, IL, 60064-6400
T +1 224 667-6100
Industry Medical Devices
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 113,000

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