Abbott (ABT) ended the recent trading session at $134.92, demonstrating a +1.31% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.71%. Elsewhere, the Dow lost 1.7%, while the tech-heavy Nasdaq lost 2.2%.

The maker of infant formula, medical devices and drugs's stock has climbed by 8.07% in the past month, exceeding the Medical sector's gain of 5.02% and the S&P 500's gain of 2.2%.

The investment community will be closely monitoring the performance of Abbott in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.07, marking a 9.18% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $10.39 billion, up 4.28% from the year-ago period.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.15 per share and a revenue of $44.35 billion, indicating changes of +10.28% and +5.73%, respectively, from the former year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Abbott. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.1% higher. At present, Abbott boasts a Zacks Rank of #3 (Hold).

With respect to valuation, Abbott is currently being traded at a Forward P/E ratio of 25.88. This expresses a premium compared to the average Forward P/E of 20.03 of its industry.

We can also see that ABT currently has a PEG ratio of 2.48. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products industry currently had an average PEG ratio of 2.22 as of yesterday's close.

The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 75, this industry ranks in the top 30% of all industries, numbering over 250.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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Abbott Laboratories (ABT) : Free Stock Analysis Report

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