Abbott Laboratories (NYSE: ABT) is a longtime leader in the healthcare industry. The medical device specialist has been around for decades, delivering solid returns to its loyal shareholders. However, the past few years have been challenging for the company. The pandemic disrupted its business and it encountered some regulatory issues, particularly the recall of some of its baby formula products.

Still, these are short-term issues that may not mean much in a few years, meaning Abbott could rebound from its recent struggles to continue delivering excellent returns. But is it a millionaire-maker stock? Let's dig deeper into the company to find out.

One great thing about Abbott Laboratories' business is that since it is a healthcare company, the basic services it offers will always be in high demand. And since the medical device giant has a long track record of developing newer and better products, not to mention the expertise to navigate the challenging healthcare industry, Abbott should remain relevant over the next 20 years.

Continue reading

Source Fool.com