Abbott Laboratories ( ABT ) saw a big move last session, as the company’s shares fell by over 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for ABT, as the stock is now down over nearly 14% over the past one month.
The pharmaceuticals company has seen a mixed track record when it comes to current year estimate revisions over the past few weeks (3 increases, 1 decrease), and the consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
Abbott Laboratories currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.
A better-ranked stock in the same sector is Eli Lilly and Company ( LLY ), which currently carries a Zacks Rank #2 (Buy).
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