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AbbVie (ABBV) Stock Sinks As Market Gains: What You Should Know

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AbbVie (ABBV) closed at $108.50 in the latest trading session, marking a -0.59% move from the prior day. This move lagged the S&P 500's daily gain of 0.48%.

Coming into today, shares of the drugmaker had gained 1.93% in the past month. In that same time, the Medical sector lost 1.65%, while the S&P 500 gained 3.46%.

ABBV will be looking to display strength as it nears its next earnings release, which is expected to be October 29, 2021. The company is expected to report EPS of $3.23, up 14.13% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $14.41 billion, up 11.72% from the prior-year quarter.

For the full year, our Zacks Consensus Estimates are projecting earnings of $12.63 per share and revenue of $56.46 billion, which would represent changes of +19.6% and +23.27%, respectively, from the prior year.

Any recent changes to analyst estimates for ABBV should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.23% lower within the past month. ABBV is currently sporting a Zacks Rank of #3 (Hold).

In terms of valuation, ABBV is currently trading at a Forward P/E ratio of 8.64. For comparison, its industry has an average Forward P/E of 13.82, which means ABBV is trading at a discount to the group.

Meanwhile, ABBV's PEG ratio is currently 2.11. 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. ABBV's industry had an average PEG ratio of 2.11 as of yesterday's close.

The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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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