In the latest market close, Abbott (ABT) reached $114.63, with a +1.12% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.97%. Elsewhere, the Dow saw an upswing of 0.3%, while the tech-heavy Nasdaq appreciated by 1.45%.

The maker of infant formula, medical devices and drugs's shares have seen a decrease of 2.64% over the last month, surpassing the Medical sector's loss of 3.72% and falling behind the S&P 500's gain of 5.41%.

Investors will be eagerly watching for the performance of Abbott in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 16, 2024. It is anticipated that the company will report an EPS of $1.20, marking a 5.26% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $10.53 billion, indicating a 3.77% increase compared to the same quarter of the previous year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.66 per share and revenue of $41.72 billion. These totals would mark changes of +4.95% and +4.03%, respectively, from last year.

Any recent changes to analyst estimates for Abbott should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.03% lower. Abbott presently features a Zacks Rank of #3 (Hold).

In the context of valuation, Abbott is at present trading with a Forward P/E ratio of 24.32. This signifies no noticeable deviation in comparison to the average Forward P/E of 24.32 for its industry.

We can additionally observe that ABT currently boasts a PEG ratio of 2.82. 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. ABT's industry had an average PEG ratio of 1.9 as of yesterday's close.

The Medical - Products industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 60, finds itself in the top 24% 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 Laboratories (ABT) : Free Stock Analysis Report

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