Abbott (NYSE: ABT) reported its Q3 results last week, with revenues and earnings beating the street estimates. ABT stock is trading at 4.0x sales compared to the last five-year average of 5.4x, and we believe investors will likely be better off picking ABT for robust gains in the long run.
The company reported revenue of $10.1 billion, reflecting a 2.6% decline from the prior year period and above the $9.8 billion street estimate. Its adjusted earnings of $1.14 per share were down 1% y-o-y and above the consensus estimate of $1.11 per share. In this note, we discuss Abbott’s stock performance, key takeaways from its recent results, and valuation.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.