Abbott Laboratories (NYSE: ABT) posted its latest earnings numbers last month, and there's reason to be optimistic about the business. Although a drop in COVID testing means sales are down overall, it's generating positive growth in other areas of its business, and analysts have been upgrading the stock. And yet, its share price is still down around 1% this year. Is Abbott's stock a good buy right now?

Abbott Laboratories posted its second-quarter results in July, and for the second time this year, it has raised its outlook for 2023. Excluding COVID-19 testing sales, the company is now projecting low double-digit organic sales growth for the year. A quarter earlier, it was forecasting at least high single-digit growth, which was slightly better than its original forecast for the year.

That's an impressive growth rate given Abbott's history. While it did post strong results in recent years due to COVID testing, a double-digit growth rate certainly isn't typical for the business.

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Source Fool.com