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Monday, 05/25/2020 1:05:43 PM

Monday, May 25, 2020 1:05:43 PM

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INVESTMENT THESIS: Strong underlying performance evidenced by sustained strength in organic sales growth.

The company boasts high-performing franchises in Medical Devices (with strong growth in Diabetes Care) and Diagnostics (with strong gains in Core Laboratory), while Nutrition and Established Pharmaceutical remain strategic parts of its total portfolio.

We believe the company's opportunities for upside rest with additional Libre uptake, the Alinity U.S. launch, and an expanded indication of the MitraClip.

We believe in incoming CEO Robert Ford and the rest of the Abbott management team, which has a strong track record of integrating acquisitions and delivering double-digit earnings per share growth. Lastly, Abbott has plenty of financial flexibility to pursue mergers/acquisitions and other strategic actions.
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