Biotech Values

[DewDiligence]

ABT's EPS guidance has_been_boosted_by_the Delta variant...

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.

The stock is +3% today on strong 3Q21 results and raised guidance.

Additional info:

#msg-166431060
#msg-166431519