Is Abbott Labs Stock a Buy After Its COVID-19 Test Controversy?
Did the White House and others celebrate Abbott Labs' (NYSE: ABT) super-fast COVID-19 diagnostic test too soon? Some think so.
A study conducted by researchers at New York University found that Abbott's COVID-19 test that runs on its popular ID NOW platform missed one-third of the samples detected as positive by Danaher's Cepheid Xpert Xpress system when using nasopharyngeal swabs and over 48% of positive results when using dry nasal swabs. The FDA subsequently issued a warning that Abbott's ID NOW COVID-19 test could return false negative results.
Abbott Labs stock pulled back from its solid year-to-date gain after these developments. But is Abbott still a buy after its COVID-19 test controversy?
Source Fool.com
