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It was hit pretty hard in February, when this problem first surfaced.
Surprised the stock wasn't hit massively.........
ABT infant-formula plant expected back online soon:
https://www.wsj.com/articles/abbott-could-restart-baby-formula-production-within-two-weeks-11652293871
This has been weighing on the stock.
Thanks. Was looking for a non Seeking alpha source
1Q22 FreeStyle Libre sales were $1.0B (yes, a $4B annualized rate), +26% YoY in constant currency.
~40% of users are now type-2 diabetics who take insulin only once/day, a market segment where ABT itself is surprised by the degree of penetration.
ABT 1Q22 Results by Business Segment
1Q22 COVID-diagnostics sales were $3.3B (vs $2.3B in 4Q21), 62% of total 1Q22 diagnostics sales and 28% of total 1Q22 corporate sales.
%Corp YoY Growth
Segment Sales (const currency)
Medical devices* 30% +12%
Diagnostics 44% +35%
Nutrition 16% -4%
Drugs† 10% +13%
ABT sold $3.3B of COVID diagnostics in 1Q22:
https://abbott.mediaroom.com/2022-04-20-Abbott-Reports-First-Quarter-2022-Results
Full-year 2022 non-GAAP EPS guidance remains unchanged at $4.70+. This guidance includes only $1.2B of cumulative COVID-diagnostics sales for 2Q22/3Q22/4Q22, which seems like a conservative forecast.
CDC unable_to_link infant-formula contamination_to ABT’s manufacturing plant:
https://www.wsj.com/articles/contaminated-baby-formula-investigation-turns-murky-11650283200
ABT fell 6% cumulatively_on_Thu/Fri_due_to infant-formula recall:
https://finance.yahoo.com/news/abbott-voluntarily-recalls-powder-formulas-221100997.html
Although ABT’s PR was issued after the market close on Thursday, news of the recall was already on the internet during trading hours.
Although ABT says the effect of the recall will not be material to 1Q21 financial results and ABT has reiterated 2022 non-GAAP EPS guidance of $4.70+, the blow to ABT’s reputation as a quality vendor may linger. Still, the 6% hit to the share price Thursday and Friday, which erased $13B in enterprise value, probably exceeded the actual damage on an NPV basis.
ABT 4Q21 Results by Business Segment
4Q21 COVID diagnostics sales were $2.3B, 51% of total 4Q21 diagnostics sales and 20% of total 4Q21 corporate sales.
%Corp YoY Growth
Segment Sales (const currency)
Medical devices* 33% +16%
Diagnostics 39% +3%
Nutrition 18% +6%
Drugs† 10% +6%
ABT 2021 non-GAAP EPS=$5.21, above the prior guidance range of $5.00-5.10 due to a surge in COVID diagnostics sales in December related to Omicron.
ABT’s 2022 non-GAAP-EPS guidance is >=$4.70 (-10% YoY) due to lower expected sales of COVID diagnostics, which were $7.7B(!) in 2021 and $2.3B in 4Q21.
4Q21 PR:
https://abbott.mediaroom.com/2022-01-26-Abbott-Reports-Strong-Fourth-Quarter-2021-Results-Issues-2022-Forecast
1-page summary sheet:
https://www.abbottinvestor.com/static-files/d7299f5f-28d7-4f48-aaf8-729bfc7c4157
ABT announces line of consumer wearable biosensors—building on success of Freestyle Libre:
https://finance.yahoo.com/news/abbott-announces-future-biowearables-consumer-181500118.html
https://www.barrons.com/articles/abbott-labs-ceo-unveils-wearable-bionsensors-at-ces-51641505214
ABT hits all-time high on increased demand for COVID testing.
ABT boosts dividend for 50th(!) consecutive year—new annualized payout=$1.88 (up from $1.80 in 2021 and $1.44 in 2020):
https://finance.yahoo.com/news/abbott-increases-quarterly-dividend-50th-180000031.html
ABT has always been more of a growth stock than an “income” stock; still, the new annualized payout represents a dividend yield of 1.4%.
ABT has essentially restored its 2021 non-GAAP EPS guidance from Apr 2021, which was $5.00+. In April, ABT expected 2021 COVID-diagnostics sales of $6.0-6.5B. In June, ABT lowered EPS guidance and reduced its expectation for 2021 COVID-19 sales to $4.0-4.5B (#msg-164129735) because COVID testing declined precipitously.
Then, the COVID Delta variant came calling. Now, it looks like ABT’s original forecast of $6.0-6.5B in 2021 COVID-diagnostic sales will be met after all, insofar as sales for the first 9 months of the year have been $5.4B.
ABT 3Q21 Results by Business Segment
%Corp YoY Growth
Segment Sales (const currency)
Medical devices* 33% +13%
Diagnostics 36% +47%
Nutrition 19% +9%
Drugs† 12% +15%
ABT 3Q21 results—2021_non-GAAP_EPS_guidance—>$5.00-5.10 (from $4.30-4.50):
https://abbott.mediaroom.com/2021-10-20-Abbott-Reports-Third-Quarter-2021-Results-Achieves-Strong-Double-Digit-Earnings-Growth-and-Raises-Guidance
3Q21 COVID-diagnostics sales were $1.9B.
ABT 2Q21 Results by Business Segment
%Corp YoY Growth
Segment Sales (const currency)
Medical devices* 36% +45%
Diagnostics 32% +57%
Nutrition 21% +10%
Drugs† 12% +15% 2Q21 COVID-19 diagnostics sales were $1.5B, 46% of total 2Q21 diagnostics sales.
65% of overall corporate sales were ex-US.
*Includes diabetes care.
†Branded generics in emerging markets.
ABT 2Q21 results—2021_non-GAAP-EPS_guidance_remains $4.30-4.50:
https://abbott.mediaroom.com/2021-07-22-Abbott-Reports-Second-Quarter-2021-Results
good call wine guy!
A rare slip-up that doesn't mean much in the overall scheme of things.
Temporary fundamental negative. And ABT is going on sale now.
ABT cuts_2021_non-GAAP_EPS_guidance_due to_slowdown_for_COVID_diagnostics:
https://finance.yahoo.com/news/abbott-issues-updated-2021-outlook-120000024.html
ABT 1Q21 Results by Business Segment
%Corp YoY Growth
Segment Sales (const currency)
Medical devices* 32% +9%
Diagnostics 38% +115%
Nutrition 19% +6%
Drugs† 10% +6%63% of overall sales were ex-US.
*Includes diabetes care.
†Branded generics in emerging markets.
ABT _sold_$2.2B_of_COVID-19_diagnostics_in_1Q21 (down from $2.4B in 4Q20):
https://abbott.mediaroom.com/2021-04-20-Abbott-Reports-First-Quarter-2021-Results
Non-GAAP EPS guidance for 2021 remains >=$5.00 (+37%, or more, relative to 2020).
1Q21 one-page graphic:
https://www.abbottinvestor.com/static-files/f172ced6-f814-490b-8e5c-3be152119058
$abt $120.75 ^ 0.97 (0.81%)
Volume: 4,102,501 @04/09/21 7:45:17 PM EDT
ABT’s BinaxNOW COVID-19_test_available_OTC—for_self_testing_w/o_prescription:
https://finance.yahoo.com/news/abbotts-binaxnow-rapid-antigen-self-030600236.html
ABT launches_4-in-1_test_for COVID/RSV/flu-A/flu-B:
https://finance.yahoo.com/news/abbott-receives-fda-eua-laboratory-140000497.html
or $116...
News today’s!
Abbott Receives Health Canada Authorization Under Interim Order to Expand Use of FreeStyle® Libre System for Pregnant Women ...
$abt $119.78 v -1.8 (-1.48%)
Volume: 5,197,681 @02/26/21 7:59:05 PM EST
ABT dividend declared:
https://finance.yahoo.com/news/abbott-declares-389th-consecutive-quarterly-182500271.html
nice run. But I feel pullback coming
$abt $128.5 ^ 1.66 (1.31%)
Volume: 3,658,685 @02/12/21 6:43:37 PM EST
Abbott earn a Zacks Rank #2 (Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
While strong estimate revisions for Abbott have attracted decent investments and pushed the stock 12.9% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away.
ABT 4Q20 Results by Business Segment
%Corp YoY Growth
Segment Sales (const currency)
Medical devices* 30% flat
Diagnostics 41% +109%
Nutrition 18% +4%
Drugs† 11% +3% 61% of overall sales were ex-US.
*Includes diabetes care.
†Branded generics in emerging markets.
ABT sold $2.4B of COVID-19 diagnostics during 4Q20!
https://abbott.mediaroom.com/2021-01-27-Abbott-Reports-Fourth-Quarter-2020-Results-Issues-Strong-Double-Digit-Growth-Forecast-for-2021
Non-GAAP EPS guidance for 2021 is >=$5.00, +37% (or more) relative to 2020’s $3.65.
$abt $113.2 ^ 0.31 (0.27%)
Volume: 5,028,069 @01/21/21 7:54:57 PM EST
$abt $109.25 ^ 0.81 (0.75%)
Volume: 2,982,247 @12/31/20 7:55:20 PM EST
ABT’s Binax-NOW COVID-19_test_now_availabe_w/o_a_prescription:
https://finance.yahoo.com/news/abbotts-binaxnow-covid-19-rapid-175500934.html
ABT has partnered with eMed to provide online ordering and instruction on usage.
The test generates a result in 15 minutes. The retail price is $25.
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