Abbott Laboratories' Best Segment Just Got Even Better: Is the Stock a Buy?
Over the past few years, Abbott Laboratories' (NYSE: ABT) business has been a bit of a roller coaster. The pandemic disrupted its medical device business, but it was later able to smooth out those losses by quickly developing and marketing COVID-19 diagnostic tests. However, sales of these products started declining as the outbreak receded, leading to more uneven revenue growth for the company. Throughout it all, one of Abbott Laboratories' segments has been its best and most consistent growth driver: Diabetes care.
Abbott Labs recently added a new product to this business that could help improve its performance. Let's review the details and find out what it all means for investors.
Abbott Labs' key product line in its diabetes care segment is the FreeStyle Libre, a portfolio of continuous glucose monitoring (CGM) devices that allow diabetes patients to keep track of their blood glucose levels. Libre sales have been on fire. They generally raise the company's average revenue growth. In the second quarter, Abbott Laboratories' sales grew 4% year over year to $10.4 billion. The company's top line increased 9.3% organically if we exclude the effect of its coronavirus diagnostic segment.
Source Fool.com
Abbott Laboratories Stock
With 19 Buy predictions and not the single Sell prediction the community is currently very high on Abbott Laboratories.
As a result the target price of 116 € shows a slightly positive potential of 11.45% compared to the current price of 104.08 € for Abbott Laboratories.
