Abbott (ABT) Faces Low Testing Demand, Currency Headwinds

The lack of demand for Abbott’s (ABT) COVID-19 tests has been limiting overall growth. Foreign exchange fluctuations continue to hamper growth as well. The stock carries a Zacks Rank #4 (Sell) currently.Following the official ending of the public health emergency in 2023, Abbott has been experiencing a continuous decline in COVID testing-related demand. In Rapid Diagnostics, sales decreased 49.2% in the fourth quarter of 2023, excluding the effect of foreign exchange, due to the lower demand for COVID-19 te ...