Abbott-Here's Why You Should Retain ABT Stock in Your Portfolio Now

Core Insights - Abbott's growth is primarily driven by strong performance in global Core Laboratory Diagnostics sales, particularly through the Alinity diagnostics systems and testing portfolios [1][4] - The Nutrition segment is experiencing robust growth in Adult Nutrition, although there are challenges in some international pediatric markets [5][6] Financial Performance - Abbott's shares have increased by 22.7% over the past year, compared to the industry's 32.1% growth and the S&P 500's 39.4% increase [2] - The company has a market capitalization of $198.73 billion and has consistently beaten earnings estimates over the last four quarters, with an average surprise of 1.64% [2] Business Segments - In the third quarter of 2024, total diagnostics organic sales grew by 4.8% year over year, with Core Laboratory Diagnostics sales increasing by 6.5% [4] - The Nutrition business reported 3.4% organic growth, driven by a 9.1% increase in Adult Nutrition, particularly from the Ensure brand [5][6] Challenges - The macroeconomic environment is posing challenges, leading to increased costs for raw materials and freight, which may impact margins [7][8] - Foreign exchange fluctuations are negatively affecting Abbott's sales, with a 2.5% unfavorable impact reported in the third quarter of 2024 [9] Estimates and Projections - The Zacks Consensus Estimate for Abbott's 2024 earnings remains at$ 1.34 per share, with revenue estimates at $42.01 billion, indicating a 4.7% increase from the previous year [10]