Given its better prospects, we believe Abbott stock (NYSE: ABT) is a better healthcare pick than Amgen stock (NASDAQ
NDAQ
AMGN
ABT stock has seen a decline of 20% from levels of $110 in early January 2021 to around $90 now, vs. an increase of about 15% for the S&P 500 over this roughly 3-year period. However, the decrease in ABT stock has been far from consistent. Returns for the stock were 29% in 2021, -22% in 2022, and -18% in 2023. In comparison, returns for the S&P 500 have been 27% in 2021, -19% in 2022, and 13% in 2023 – indicating an underperformance for the ticker in 2022 and 2023.
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