Abbott (ABT) Gains But Lags Market: What You Should Know

Abbott (ABT) closed the most recent trading day at $128.38, moving +1.29% from the previous trading session. This move lagged the S&P 500’s daily gain of 1.42%. At the same time, the Dow added 1.82%, and the tech-heavy Nasdaq gained 0.61%.

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Prior to today’s trading, shares of the maker of infant formula, medical devices and drugs had lost 1.52% over the past month. This has was narrower than the Medical sector’s loss of 5.99% and the S&P 500’s loss of 2.09% in that time.

Investors will be hoping for strength from Abbott as it approaches its next earnings release. The company is expected to report EPS of $1.16, down 20% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.41 billion, down 2.75% from the year-ago period.

ABT’s full-year Zacks Consensus Estimates are calling for earnings of $5.05 per share and revenue of $42.05 billion. These results would represent year-over-year changes of +38.36% and +21.5%, respectively.

Investors might also notice recent changes to analyst estimates for Abbott. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.

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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Abbott currently has a Zacks Rank of #3 (Hold).

In terms of valuation, Abbott is currently trading at a Forward P/E ratio of 25.09. For comparison, its industry has an average Forward P/E of 23.37, which means Abbott is trading at a premium to the group.

It is also worth noting that ABT currently has a PEG ratio of 2.09. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. ABT’s industry had an average PEG ratio of 1.93 as of yesterday’s close.

The Medical – Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 181, putting it in the bottom 29% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

To follow ABT in the coming trading sessions, be sure to utilize Zacks.com.


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