Abbott Laboratories (NYSE: ABT) has reported earnings for its second fiscal quarter (ending June 30) of $0.74 versus $0.79 for the same period a year ago — a decline of -6%. This performance was $-0.37 short of the consensus estimate of $1.11. E.P.S. were $3.18 for the latest four quarters through June 30 versus $2.95 for the same period a year ago — an increase of 8%.
Recent Price Action
On 7/18/24, Abbott Laboratories (NYSE: ABT) stock declined by -4.4%, closing at $100.07. Moreover, trading volume in this decline was exceptionally high at 213% of normal. The stock has performed in line with the market over the last nine months and has declined -2.9% during the last week.
Current PriceTarget Research Rating
ABT is expected to continue to be a major Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
Abbott Laboratories has a current Value Trend Rating of D (Negative). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. Abbott Laboratories has a neutral Power Rating of 45 but a poor Appreciation Score of 22, resulting in the Negative Value Trend Rating.
Rating Review
In light of this new information we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
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