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Abbott (ABT) Stock Moves -0.8%: What You Should Know

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In the latest trading session, Abbott (ABT) closed at $116.57, marking a -0.8% move from the previous day. This change was narrower than the S&P 500's 1.64% loss on the day. At the same time, the Dow lost 1.05%, and the tech-heavy Nasdaq lost 0.41%.

Coming into today, shares of the maker of infant formula, medical devices and drugs had gained 3.98% in the past month. In that same time, the Medical sector gained 0.06%, while the S&P 500 gained 0.73%.

Abbott will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.11, down 5.13% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $10.34 billion, up 1.1% from the prior-year quarter.

ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.82 per share and revenue of $41.62 billion. These results would represent year-over-year changes of -7.49% and -3.38%, respectively.

Any recent changes to analyst estimates for Abbott should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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 has moved 1.23% lower. Abbott is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, Abbott currently has a Forward P/E ratio of 24.39. This represents a premium compared to its industry's average Forward P/E of 22.99.

It is also worth noting that ABT currently has a PEG ratio of 3.11. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ABT's industry had an average PEG ratio of 1.79 as of yesterday's close.

The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 173, putting it in the bottom 32% 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.

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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