- Abbott updated its full-year adjusted EPS forecast to a range of $4.64 to $4.70, previously $4.61 to $4.71. Analysts estimated $4.66.
- For the fourth quarter, Abbott projects adjusted EPS between $1.31 and $1.37; analysts’ estimate was $1.34.
- In the third quarter, Abbott reported adjusted EPS of $1.21, an increase from $1.14 year-on-year, surpassing the estimate of $1.20.
- Organic sales, excluding COVID-19 testing sales, increased by 8.2%, compared to 13.8% the previous year. This was below the estimated 9.32% growth.
- Net sales reached $10.64 billion, a 4.9% year-on-year increase, exceeding the estimate of $10.55 billion.
- Nutrition sales slightly declined to $2.07 billion, down 0.3% from the previous year, falling short of the $2.17 billion estimate.
- Diagnostics sales decreased by 1.5% year-on-year to $2.41 billion, surpassing the $2.3 billion estimate.
- COVID-19 testing-related sales rose significantly to $265 million, compared to $102 million in the previous quarter. The estimate was $86.6 million.
- Established pharmaceuticals sales increased by 2.8% year-on-year, totaling $1.41 billion, in line with the $1.4 billion estimate.
- Medical devices sales grew by 12% year-on-year to $4.75 billion, exceeding the $4.68 billion estimate.
- Diabetes care sales surged by 17% year-on-year to $1.73 billion, surpassing the estimate of $1.71 billion.
- Abbott reaffirmed its full-year 2024 organic sales growth target range of 9.5% to 10.0%, excluding COVID-19 testing sales.
- For the fourth quarter of 2024, the company projected adjusted diluted EPS, excluding specified items, to also be in the $1.31 to $1.37 range.
- Market consensus included 21 buy ratings, 7 hold ratings, and 1 sell rating for Abbott stock.
Abbott Laboratories on Smartkarma
Abbott Laboratories has garnered positive attention from analysts on Smartkarma, particularly highlighted in the research report by Baptista Research titled “Abbott Laboratories: Expanding Sensor Technology & Other Innovations! – Major Drivers.” Based on the strong second quarter 2024 results, Abbott Laboratories showcased impressive performance across various segments, exceeding analyst expectations. With organic sales growth exceeding 9% and a 16% sequential increase from the previous quarter, the company has confidently raised its full-year guidance, projecting further success. This report reflects a bullish outlook on Abbott Laboratories‘ future prospects.
A look at Abbott Laboratories Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 3 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Abbott Laboratories, a company that focuses on health care products and services, is currently positioned with a moderate outlook across various factors. In terms of value, Abbott Laboratories has received a score of 2, indicating that it offers some value to investors. With a dividend score of 3, the company shows a decent dividend track record that may attract income-focused investors.
Looking at growth, resilience, and momentum, Abbott Laboratories has scored a 3 for each of these factors. This suggests that the company is fairly stable in its operations, exhibiting steady growth potential with a good level of resilience. Additionally, the momentum score of 4 implies that the company’s stock has been performing well relative to its peers in the market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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