Core Insights - Abbott Laboratories is a global-diversified healthcare company with a history dating back to 1888, focusing on developing, manufacturing, and selling healthcare products worldwide [1] - The company operates through four main segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices, with Medical Devices being the largest segment [1] Segment Analysis - Established Pharmaceutical Products: This segment includes a range of established medications that contribute to the company's overall revenue [1] - Diagnostic Products: Abbott's diagnostic offerings play a crucial role in healthcare, providing essential tools for disease detection and management [1] - Nutritional Products: The nutritional segment focuses on products that support health and wellness, catering to various consumer needs [1] - Medical Devices: As the largest segment, Medical Devices encompasses a wide array of innovative products that enhance patient care and treatment outcomes [1]

Fortune 500 Overview - The Fortune 500 list, in its 70th year, ranks the largest U.S companies by revenue, with these companies collectively representing two-thirds of the U.S GDP, amounting to $18.8 trillion [1] Industry Leaders and Dividend Focus - The article highlights the importance of industry leaders within the Fortune 500, particularly those offering 'safer' dividends, as part of an investment strategy [2] - A focus on underdog stories and dividend-focused portfolios is emphasized, with specific attention given to live video highlights of portfolio candidates on platforms like Facebook [2] - Engagement from readers is encouraged to influence the selection of stock tickers for future reports, with a focus on underdog stocks [2]

Core Viewpoint - Pharmaceutical stocks are considered strong long-term investments due to their consistent demand and revenue stability regardless of economic conditions [1] Group 1: Abbott Laboratories - Abbott Laboratories operates in pharmaceuticals, medical devices, diagnostics, and nutrition, providing diversification that mitigates risks from any single business segment [2] - The company has shown remarkable historical performance, with a cumulative compound return of 7,803,730% from 1937 to December of the previous year [2] - Abbott is recognized as a Dividend King, having raised its dividend for over 50 consecutive years, indicating a strong commitment to shareholder returns [3] - The company has authorized a new stock repurchase program of up to $7 billion, further demonstrating confidence in its future and commitment to rewarding shareholders [4] Group 2: Pfizer - Pfizer's stock is currently undervalued at 11 times forward earnings estimates, making it an attractive investment opportunity [5] - The company has faced challenges with declining coronavirus vaccine sales but anticipates significant growth from new products and a strong focus on oncology, projecting an additional $20 billion in revenue by 2030 from non-coronavirus products [5] - The acquisition of Seagen is already contributing positively to Pfizer's revenue, with plans to launch at least eight blockbuster oncology medicines by 2030 [5] - Pfizer pays a dividend of $1.68 per share with a yield of 5.6%, and is committed to growing its dividend over time [6] Group 3: Johnson & Johnson - Johnson & Johnson has successfully spun out its consumer health business to focus on pharmaceuticals and medtech, resulting in operational sales growth of 6.3% in innovative medicines and 6.4% in medtech [7] - The innovative medicines segment has consistently surpassed $14 billion in sales for two consecutive quarters, with significant contributions from major brands [7] - The immunotherapy drug Darzalex achieved $3 billion in sales in a single quarter, showcasing the strength of J&J's product portfolio [7] - Recent acquisitions have positively impacted medtech growth, and the company has $19 billion in free cash flow, reinforcing its status as a Dividend King and a solid choice for passive income and long-term growth [8]

Group 1 - Abbott Laboratories reported third-quarter sales of $10.64 billion, a 4.9% year-over-year increase, surpassing the consensus estimate of $10.55 billion [1] - The organic sales growth for the underlying base business was 8.2%, driven by double-digit growth in Medical Devices [1] - Abbott's adjusted diluted earnings per share (EPS) was $1.21, exceeding analyst estimates of $1.20 [1] Group 2 - For the full year 2024, Abbott projects adjusted EPS of $4.64-$4.70, compared to prior guidance of $4.61-$4.71 and consensus of $4.66 [1] - The company forecasts fourth-quarter adjusted EPS of $1.31-$1.37, above the consensus of $1.20 [1] - William Blair expects Abbott to return to a typical pattern of double-digit earnings growth in the fourth quarter, continuing into 2025 [1][2] Group 3 - Looking ahead to 2025, Abbott has developed a strong product pipeline that is expected to drive a high-single-digit growth rate, an acceleration from pre-COVID levels [2] - The investment landscape for Abbott remains attractive, especially in comparison to other large-cap MedTech peers with similar growth [2] - If macroeconomic headwinds lessen, there is potential for EPS upside, with 2024 viewed as a transitional year leading to low-double-digit earnings growth by 2025 [2] Group 4 - Abbott's stock is currently trading at 22.8 times the 2025 EPS estimate of $5.16, leading to an Outperform rating from William Blair [2] - The 200-day moving average for Abbott Laboratories is $110.38, which is below the current price of $117.31, indicating a bullish signal [3] - Traders generally view stocks above their moving average as bullish, while those below are seen as negative [4]

Core Insights - Abbott Laboratories reported third-quarter sales of $10.64 billion, a 4.9% year-over-year increase, surpassing the consensus estimate of $10.55 billion [1] - The adjusted diluted earnings per share (EPS) was $1.21, exceeding analyst expectations of $1.20 [1] - The company is well-positioned to achieve the upper end of its initial guidance for the year, with projected full-year 2024 adjusted EPS of $4.64-$4.70 [1] Financial Performance - Third-quarter sales: $10.64 billion, up 4.9% year-over-year [1] - Adjusted diluted EPS: $1.21, beating estimates of $1.20 [1] - Full-year 2024 adjusted EPS guidance: $4.64-$4.70, compared to prior guidance of $4.61-$4.71 [1] Analyst Ratings and Price Targets - Abbott shares closed at $117.82, gaining 1.5% [3] - Consensus price target for Abbott is $127.1, with a high of $143 and a low of $104 [3] - Recent analyst ratings indicate an average price target of $126.33, suggesting a 7.05% upside [3] - Morgan Stanley raised the price target from $107 to $117 while maintaining an Equal-Weight rating [3] - Piper Sandler increased the price target from $131 to $133, maintaining an Overweight rating [3]

Core Viewpoint - The stock market presents both long-lasting and fickle buying opportunities, with stocks potentially remaining undervalued for extended periods during bear markets [1]. Group 1 - The author has been investing since September 2017 and has a focus on dividend investing since 2009 [1]. - The blog "Kody's Dividends" documents the journey towards financial independence through dividend growth investing [1]. - The author expresses gratitude for the blog's role in connecting with the Seeking Alpha community as an analyst [1].

Group 1 - The article promotes iREIT on Alpha as a source for in-depth research on various income alternatives including REITs, mREITs, Preferreds, BDCs, MLPs, and ETFs [1] - It highlights the positive feedback from users, with 438 testimonials, most rated 5 stars, indicating high satisfaction with the service [1] Group 2 - The article includes a disclosure stating that the author has a beneficial long position in DHR shares, indicating a personal investment interest [1] - It clarifies that the opinions expressed are those of the author and not influenced by any compensation from companies mentioned [1]

Core Viewpoint - Abbott Laboratories, a leading player in the healthcare sector, is facing challenges but still presents a compelling investment opportunity for long-term investors due to its diversified business model and growth potential in key segments [1][7]. Group 1: Company Overview - Abbott Laboratories is a major medical device manufacturer with a diverse portfolio that includes nutrition, established pharmaceuticals, and diagnostics, reducing reliance on any single business unit [2]. - The company has shown resilience during disruptions, such as the pandemic, by leveraging its diagnostic business when demand for medical devices declined [2][3]. Group 2: Financial Performance and Growth Opportunities - Abbott's financial results have remained consistent, supported by its innovative capabilities and expertise in the industry [3]. - The diabetes care segment, particularly the FreeStyle Libre continuous glucose monitoring (CGM) franchise, is a significant growth driver, with only 1% of the estimated half-billion adults with diabetes currently having access to CGM technology [4]. - The recent launch of over-the-counter CGM options, Libre Rio and Lingo, further expands Abbott's market reach [3][4]. Group 3: Dividend and Investment Appeal - Abbott Laboratories has a strong track record of dividend payments, with 52 consecutive payout increases and a current yield of 1.8%, making it an attractive option for income-focused investors [4]. Group 4: Risks and Competition - The company faces legal and regulatory challenges, including lawsuits related to its baby formula and recalls of FreeStyle Libre sensors, but these issues have not yet caused significant long-term harm [5][6]. - Abbott competes with DexCom in the CGM market, but its unit has continued to thrive despite this competition [6].

Core Insights - Abbott Laboratories reported third-quarter earnings that exceeded analyst expectations, leading to a 1.5% increase in its stock price, outperforming the S&P 500 index's 0.5% gain [1] Financial Performance - Abbott's revenue for the quarter was approximately $10.64 billion, reflecting a year-over-year growth of nearly 5% [2] - Non-GAAP adjusted net income rose by 6% to $2.12 billion, equating to $1.21 per share, slightly above the consensus estimates of $10.56 billion in revenue and $1.20 per share [2] - The medical devices segment was the primary driver of growth, generating nearly $4.75 billion, a 14% increase compared to the previous year [2] - The nutrition segment also performed well, with a 10% increase to almost $2.1 billion [2] Management Guidance - CEO Robert Ford expressed confidence in the company's performance, indicating that Abbott is well-positioned to achieve the upper end of its initial guidance for the year [3] - The company raised its adjusted earnings guidance for full-year 2024 to a range of $4.64 to $4.70 per share, anticipating revenue growth of 9.5% to 10% over 2023 results [3]

Core Insights - Abbott Laboratories reported third-quarter 2024 adjusted earnings per share (EPS) of $1.21, exceeding the Zacks Consensus Estimate by 0.8% and improving 6.1% year over year [1] - The company achieved worldwide sales of $10.64 billion, a 4.9% increase year over year, surpassing the Zacks Consensus Estimate by 0.7% [2] - Abbott's gross profit rose 7.2% year over year to $5.93 billion, with a gross margin expansion of 123 basis points to 55.8% [6] Financial Performance - Adjusted operating profit increased by 8.7% year over year to $2.33 billion, with an adjusted operating margin expanding 77 basis points to 21.9% [6] - GAAP EPS was reported at 94 cents, reflecting a 14.6% year-over-year increase [1] Segment Performance - Established Pharmaceuticals segment sales increased 2.7% on a reported basis to $1.41 billion, with organic sales growth of 7% [3] - Medical Devices segment sales rose 11.7% year over year to $4.75 billion, driven by strong performance in Diabetes Care and Structural Heart [3][4] - Nutrition sales decreased 0.3% year over year to $2.07 billion, although organic sales improved by 3.4% [4] - Diagnostics sales fell 1.5% year over year to $2.41 billion, with core laboratory diagnostics showing a 4.3% organic growth [5] Guidance and Outlook - Abbott updated its 2024 guidance, expecting adjusted earnings in the range of $4.64-$4.74 per share, up from the previous range of $4.61-$4.71 [7] - The company anticipates full-year organic sales growth of 9.5-10%, an increase from the earlier estimate of 8.5-10% [7] Strategic Developments - Abbott formed a global partnership with Medtronic to integrate its continuous glucose monitoring system with Medtronic's insulin delivery devices [8] - The company launched Lingo, the first continuous glucose monitoring system available without a prescription in the U.S., and completed enrollment in its VOLT-AF IDE trial ahead of schedule [9]