Why Abbott Labs Will Make You Richer in April (and Beyond!)
About a year ago, Abbott Laboratories (NYSE: ABT) made a decision that would prove transformative. The company entered the coronavirus testing market -- and in a big way. The U.S. Food and Drug Administration (FDA) granted Abbott a first Emergency Use Authorization (EUA) in March 2020. But Abbott didn't stop there. Abbott created various types of COVID-19 diagnostics -- and the EUAs multiplied. Today, Abbott has at least nine.
At the same time, though, Abbott's other diagnostics and medical devices suffered. That's because hospitals postponed procedures to focus on coronavirus patients. Still, Abbott managed to deliver strong 2020 earnings -- and predict a bright future. Let's take a closer look at how all of these elements will work to make shareholders richer this month and beyond.
Image source: Getty Images.
Source Fool.com
