Growing Biosimilars Business Supports ABT Stock, Macro Issues Hurt

Abbott's (ABT) diversified business portfolio is well-positioned to drive continued momentum in 2024. Yet, the business environment continues to remain challenging globally. The stock carries a Zacks Rank #3 (Hold). Factors Driving ABT Shares Abbott continues to expand its Diagnostics business foothold (consisting of 22.6% of the total revenues in the third quarter of 2024). On a global scale, Abbott currently holds a prominent position in point-of-care testing, with a portfolio focused on four key areas — ...