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Abbott (ABT - Free Report) closed at $113.92 in the latest trading session, marking a +0.37% move from the prior day. This change outpaced the S&P 500's 0.08% gain on the day. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, added 0.02%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 4.51% over the past month, lagging the Medical sector's gain of 6.57% and outpacing the S&P 500's gain of 3.52% in that time.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company plans to announce its earnings on January 24, 2024. The company is forecasted to report an EPS of $1.19, showcasing a 15.53% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $10.14 billion, indicating a 0.49% increase compared to the same quarter of the previous year.
Any recent changes to analyst estimates for Abbott should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, there's been no change in the Zacks Consensus EPS estimate. Abbott presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 24.59. This represents a premium compared to its industry's average Forward P/E of 20.69.
One should further note that ABT currently holds a PEG ratio of 2.73. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Products was holding an average PEG ratio of 2.58 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 160, finds itself in the bottom 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Abbott (ABT) Rises Higher Than Market: Key Facts
Abbott (ABT - Free Report) closed at $113.92 in the latest trading session, marking a +0.37% move from the prior day. This change outpaced the S&P 500's 0.08% gain on the day. Meanwhile, the Dow lost 0.31%, and the Nasdaq, a tech-heavy index, added 0.02%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 4.51% over the past month, lagging the Medical sector's gain of 6.57% and outpacing the S&P 500's gain of 3.52% in that time.
Market participants will be closely following the financial results of Abbott in its upcoming release. The company plans to announce its earnings on January 24, 2024. The company is forecasted to report an EPS of $1.19, showcasing a 15.53% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $10.14 billion, indicating a 0.49% increase compared to the same quarter of the previous year.
Any recent changes to analyst estimates for Abbott should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, there's been no change in the Zacks Consensus EPS estimate. Abbott presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Abbott is currently exchanging hands at a Forward P/E ratio of 24.59. This represents a premium compared to its industry's average Forward P/E of 20.69.
One should further note that ABT currently holds a PEG ratio of 2.73. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Products was holding an average PEG ratio of 2.58 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 160, finds itself in the bottom 37% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.