Abbott Laboratories Triumphs Over Challenges: A Tale Of Resilience

Summary:

  • Abbott Laboratories is a global healthcare leader known for its branded generic medicines, diagnostic systems, and medical devices.
  • Abbott has continued to increase its dividend payout for 51 consecutive years, garnering the popularity and trust of conservative investors.
  • At the end of the second quarter of 2023, the remaining authorization to repurchase Abbott shares amounted to $1.709 billion.
  • On October 18, 2023, the company will publish its third-quarter 2023 financial report, which we estimate should please investors due to continued double-digit growth in sales of diabetes care products and increased volume of laboratory-based molecular tests due to the COVID-19 wave that began in mid-July.
  • We initiate our coverage of Abbott Laboratories with an “outperform” rating for the next 12 months.

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Abbott Laboratories (NYSE:ABT) is a global healthcare leader headquartered in Abbott Park that has played a key role in developing and commercializing branded generic medicines, diagnostic systems, and medical devices for many years. Despite increasing competition in the


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