Abbott Laboratories (ABT)
Market Price (11/5/2026): $115.4 | Market Cap: $199.7 BilInvestor Relations Sector: Health Care | Industry: Health Care Equipment
Abbott Laboratories (ABT)
Market Price (11/5/2026): $115.4Market Cap: $199.7 BilSector: Health CareIndustry: Health Care Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%, CFO LTM is 8.9 Bil, FCF LTM is 6.8 Bil Attractive yieldDividend Yield is 2.2% Stock buyback supportStock Buyback 3Y Total is 3.7 Bil Low stock price volatilityVol 12M is 28% Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, Digital Health & Telemedicine, Aging Population & Chronic Disease, Show more. | Weak multi-year price returns2Y Excs Rtn is -25%, 3Y Excs Rtn is -49% | Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 27x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 23x, P/EPrice/Earnings or Price/(Net Income) is 43x Key risksABT key risks include [1] significant product liability exposure from ongoing infant formula lawsuits, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 18%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 14%, CFO LTM is 8.9 Bil, FCF LTM is 6.8 Bil |
| Attractive yieldDividend Yield is 2.2% |
| Stock buyback supportStock Buyback 3Y Total is 3.7 Bil |
| Low stock price volatilityVol 12M is 28% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, Precision Medicine, Digital Health & Telemedicine, Aging Population & Chronic Disease, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -25%, 3Y Excs Rtn is -49% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 27x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 23x, P/EPrice/Earnings or Price/(Net Income) is 43x |
| Key risksABT key risks include [1] significant product liability exposure from ongoing infant formula lawsuits, Show more. |
Stock Movement Drivers
Fundamental Drivers
The 10.0% change in ABT stock from 7/31/2026 to 11/4/2026 was primarily driven by a 26.5% change in the company's P/E Multiple.| (LTM values as of) | 7312026 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 105.05 | 115.51 | 10.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 46,585 | 48,229 | 3.5% |
| Net Income Margin (%) | 11.6% | 9.7% | -16.3% |
| P/E Multiple | 33.7 | 42.6 | 26.5% |
| Shares Outstanding (Mil) | 1,740 | 1,734 | 0.3% |
| Cumulative Contribution | 10.0% |
Market Drivers
7/31/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| ABT | 10.0% | |
| Market (SPY) | 2.6% | 0.7% |
| Sector (XLV) | 16.7% | 53.6% |
Fundamental Drivers
The 28.9% change in ABT stock from 4/30/2026 to 11/4/2026 was primarily driven by a 71.3% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 89.60 | 115.51 | 28.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 45,134 | 48,229 | 6.9% |
| Net Income Margin (%) | 13.9% | 9.7% | -29.9% |
| P/E Multiple | 24.9 | 42.6 | 71.3% |
| Shares Outstanding (Mil) | 1,742 | 1,734 | 0.5% |
| Cumulative Contribution | 28.9% |
Market Drivers
4/30/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| ABT | 28.9% | |
| Market (SPY) | 7.0% | -11.7% |
| Sector (XLV) | 30.5% | 55.8% |
Fundamental Drivers
The -4.2% change in ABT stock from 10/31/2025 to 11/4/2026 was primarily driven by a -69.4% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 120.62 | 115.51 | -4.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 43,843 | 48,229 | 10.0% |
| Net Income Margin (%) | 31.9% | 9.7% | -69.4% |
| P/E Multiple | 15.0 | 42.6 | 183.5% |
| Shares Outstanding (Mil) | 1,742 | 1,734 | 0.4% |
| Cumulative Contribution | -4.2% |
Market Drivers
10/31/2025 to 11/4/2026| Return | Correlation | |
|---|---|---|
| ABT | -4.2% | |
| Market (SPY) | 13.4% | 1.0% |
| Sector (XLV) | 33.2% | 51.6% |
Fundamental Drivers
The 30.1% change in ABT stock from 10/31/2023 to 11/4/2026 was primarily driven by a 42.4% change in the company's P/E Multiple.| (LTM values as of) | 10312023 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 88.77 | 115.51 | 30.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 40,226 | 48,229 | 19.9% |
| Net Income Margin (%) | 12.8% | 9.7% | -24.0% |
| P/E Multiple | 29.9 | 42.6 | 42.4% |
| Shares Outstanding (Mil) | 1,740 | 1,734 | 0.3% |
| Cumulative Contribution | 30.1% |
Market Drivers
10/31/2023 to 11/4/2026| Return | Correlation | |
|---|---|---|
| ABT | 30.1% | |
| Market (SPY) | 89.7% | 12.5% |
| Sector (XLV) | 59.5% | 50.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ABT Return | 31% | -21% | 2% | 5% | 13% | -6% | 18% |
| Peers Return | 22% | -9% | 4% | 10% | 18% | 4% | 57% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| ABT Win Rate | 58% | 42% | 50% | 58% | 58% | 55% | |
| Peers Win Rate | 60% | 47% | 52% | 53% | 60% | 55% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| ABT Max Drawdown | -17% | -31% | -21% | -16% | -13% | -35% | |
| Peers Max Drawdown | -17% | -25% | -21% | -15% | -22% | -32% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: JNJ, MDT, TMO, DHR, BSX. See ABT Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/4/2026 (YTD)
How Low Can It Go
| Event | ABT | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -19.7% | -9.5% |
| % Gain to Breakeven | 24.5% | 10.5% |
| Time to Breakeven | 88 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -10.7% | -6.7% |
| % Gain to Breakeven | 12.0% | 7.1% |
| Time to Breakeven | 28 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -30.5% | -24.5% |
| % Gain to Breakeven | 43.9% | 32.4% |
| Time to Breakeven | 838 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -29.7% | -33.7% |
| % Gain to Breakeven | 42.2% | 50.9% |
| Time to Breakeven | 22 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -10.5% | -3.7% |
| % Gain to Breakeven | 11.8% | 3.9% |
| Time to Breakeven | 61 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -27.0% | -12.2% |
| % Gain to Breakeven | 37.0% | 13.9% |
| Time to Breakeven | 494 days | 62 days |
In The Past
Abbott Laboratories's stock fell -6.2% during the 2025 US Tariff Shock. Such a loss loss requires a 6.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | ABT | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -30.5% | -24.5% |
| % Gain to Breakeven | 43.9% | 32.4% |
| Time to Breakeven | 838 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -29.7% | -33.7% |
| % Gain to Breakeven | 42.2% | 50.9% |
| Time to Breakeven | 22 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -27.0% | -12.2% |
| % Gain to Breakeven | 37.0% | 13.9% |
| Time to Breakeven | 494 days | 62 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -20.6% | -53.4% |
| % Gain to Breakeven | 26.0% | 114.4% |
| Time to Breakeven | 302 days | 1085 days |
In The Past
Abbott Laboratories's stock fell -6.2% during the 2025 US Tariff Shock. Such a loss loss requires a 6.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Abbott Laboratories (ABT)
Abbott Laboratories (ABT) is a global healthcare company that discovers, develops, manufactures, and sells a wide range of health care products. Operating across four key segments—Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices—Abbott aims to address diverse medical needs and improve patient care worldwide.
The company's offerings include a robust Diagnostic Products segment, providing laboratory systems for immunoassay, clinical chemistry, hematology, and molecular diagnostics, as well as rapid point-of-care tests for infectious diseases like COVID-19, flu, and HIV. Its Medical Devices segment focuses on advanced technologies for cardiovascular health, encompassing rhythm management, electrophysiology, and structural heart devices, alongside diabetes care products and neuromodulation devices for chronic pain and movement disorders.
Additionally, Abbott's Established Pharmaceutical Products segment provides generic pharmaceuticals and vaccines for a wide array of conditions, from digestive and gynecological disorders to hypertension and migraine. The Nutritional Products segment offers specialized pediatric and adult nutrition solutions. Abbott primarily serves hospitals, laboratories, clinics, healthcare professionals, and individual consumers globally, positioning itself as a comprehensive partner in healthcare delivery.
AI Analysis | Feedback
The **Johnson & Johnson** of medical devices, diagnostics, and nutrition.
**Medtronic** for devices and diagnostics, also making nutrition products like **Nestle**.
AI Analysis | Feedback
- Established Pharmaceutical Products: Generic and branded pharmaceuticals treating a wide range of conditions from pain and gastrointestinal disorders to infections.
- Diagnostic Laboratory Systems: Comprehensive systems for immunoassay, clinical chemistry, hematology, and molecular diagnostics used in laboratories.
- Point-of-Care and Rapid Diagnostics: Devices and cartridges for quick, on-site testing for conditions like HIV, SARS-CoV-2, influenza, and cardiometabolic health.
- Nutritional Products: Specialized pediatric and adult nutritional formulations supporting various health needs.
- Cardiovascular Medical Devices: A broad portfolio of devices for rhythm management, electrophysiology, heart failure, vascular, and structural heart conditions.
- Diabetes Care Products: Innovative solutions and devices for managing diabetes.
- Neuromodulation Devices: Medical devices designed to manage chronic pain and movement disorders.
AI Analysis | Feedback
Abbott Laboratories (ABT) primarily sells its products to other companies and institutions within the healthcare sector rather than directly to individuals. Based on the company description, its major customers fall into the following categories:
-
Hospitals and Healthcare Systems: This category encompasses general hospitals, specialized clinics, and integrated delivery networks that purchase a wide range of Abbott's offerings. This includes established pharmaceutical products, medical devices (e.g., rhythm management, electrophysiology, heart failure, vascular, structural heart, and neuromodulation devices), diagnostic systems (for their in-house labs), and nutritional products for patient care.
-
Clinical Laboratories and Blood Banks: These entities are primary customers for Abbott's Diagnostic Products segment, which includes laboratory systems for immunoassay, clinical chemistry, hematology, and transfusion, as well as molecular diagnostics systems for detecting and measuring infectious agents.
-
Pharmacies and Retail Distributors: These serve as crucial channels for the distribution of Abbott's established pharmaceutical products (generic pharmaceuticals), nutritional products (pediatric and adult formulas), and certain medical devices, such as diabetes care products (e.g., continuous glucose monitoring systems) and consumer self-test systems, to the end-users.
AI Analysis | Feedback
AI Analysis | Feedback
Robert B. Ford, Chairman and Chief Executive Officer
Robert B. Ford became Abbott's President and Chief Executive Officer in March 2020 and assumed the role of Chairman in December 2021. He originally joined Abbott in 1996 within the company's diabetes care business and has held various leadership roles across Abbott's nutrition and medical device businesses. As Executive Vice President of Medical Devices, he oversaw the integration of St. Jude Medical, which was Abbott's largest acquisition at the time, and led Abbott's diabetes care business, including the launch of FreeStyle® Libre. Prior to joining Abbott, Mr. Ford held a marketing position with Becton Dickinson Brazil.
Philip P. Boudreau, Executive Vice President, Finance and Chief Financial Officer
Philip P. Boudreau was appointed Senior Vice President, Finance and Chief Financial Officer, effective September 1, 2023, and subsequently promoted to Executive Vice President, Finance and Chief Financial Officer, effective July 1, 2024. He joined Abbott in 1997 and has held various finance leadership roles across the Diagnostics, Diabetes, Nutrition, and Medical Devices businesses. Before his appointment as CFO, he served as Abbott's Vice President, Controller since 2020.
Lisa D. Earnhardt, Executive Vice President and Group President, Medical Devices
Lisa D. Earnhardt is Abbott's Executive Vice President and Group President, Medical Devices, a role she was appointed to in December 2023. She previously served as Executive Vice President, Medical Devices since 2019. Prior to joining Abbott, Ms. Earnhardt served as President and Chief Executive Officer of Intersect ENT from 2008. Earlier in her career, she was President of Boston Scientific's Cardiac Surgery division. She began her career providing management consulting services to healthcare provider organizations at APM/CSC Healthcare.
Hubert L. Allen, Executive Vice President, General Counsel and Secretary
Hubert L. Allen has served as Executive Vice President, General Counsel, and Secretary at Abbott Laboratories since January 2013. He joined Abbott in 2006 as Senior Counsel, supporting the Pharmaceutical Products Division. Throughout his tenure at Abbott, he has held various positions within the legal department, including Divisional Vice President and Associate General Counsel for the Pharmaceutical Products Group and Section Head in Abbott Nutrition. Prior to joining Abbott, Mr. Allen was an Assistant General Counsel at McKesson Corporation.
Jared Watkin, Executive Vice President, Diabetes Care
Jared Watkin is Abbott's Executive Vice President of Diabetes Care. A scientist by training, he previously led the research and development of Abbott's FreeStyle Libre continuous glucose monitoring technology. He is recognized for his contributions to creating innovative, next-generation technologies and digital health tools that aim to transform diabetes management and improve health outcomes.
AI Analysis | Feedback
- Legal, Regulatory, and Product Recall Risks: Abbott Laboratories faces significant legal and regulatory scrutiny, particularly concerning its infant formula business, which has led to investigations by the Securities and Exchange Commission (SEC) and Federal Trade Commission (FTC), as well as numerous lawsuits alleging contamination and adverse health effects in infants. The company has also experienced Class I recalls, the most severe category, for medical devices such as the Amplatzer Steerable Delivery Sheath and glucose monitor sensors, due to safety concerns that have been linked to serious injuries and deaths. Compliance with extensive governmental regulations in the healthcare industry is costly, and any failure to adhere to these standards can result in substantial fines, product recalls, and damage to the company's reputation and financial stability.
- Competitive and Pricing Pressures from Government Policies: Abbott operates in a highly competitive healthcare market that is significantly influenced by government policies and cost containment initiatives, both domestically and internationally. These pressures include competitive bidding and global price controls, particularly in key markets like China and in the diagnostics segment, which can lead to price reductions and negatively impact Abbott's high-margin products. Additionally, the fading tailwind from the COVID-19 pandemic and the anticipated decline in COVID-19 testing revenue present a financial headwind, estimated by management to exceed $1 billion in 2025.
- Global Supply Chain Vulnerabilities: Abbott Laboratories relies on an extensive and intricate global supply chain for the discovery, development, manufacture, and sale of its healthcare products. This complex supply chain is vulnerable to disruptions caused by various macroeconomic conditions, including inflation and labor shortages. Such vulnerabilities can lead to manufacturing problems, production delays, increased operational costs, and ultimately, a negative impact on the company's profitability and competitive position.
AI Analysis | Feedback
AI Analysis | Feedback
Addressable Markets for Abbott Laboratories' Main Products and Services
Abbott Laboratories (symbol: ABT) operates across diverse healthcare segments, each with significant addressable markets globally.
Established Pharmaceutical Products
- The global pharmaceutical market, which includes established pharmaceutical products, was estimated at approximately $1.77 trillion in 2025, with projections to reach $1.88 trillion by 2026 and nearly $3 trillion by 2034.
Diagnostic Products
- The global in vitro diagnostics market size was estimated at USD 105.7 billion in 2024 and is expected to grow to USD 155.4 billion by 2034.
Nutritional Products
- The global medical nutrition market size was valued at USD 52.94 billion in 2025 and is estimated to reach USD 108.84 billion by 2034.
Medical Devices
- The broader global cardiovascular devices market was valued at approximately US$72.83 billion in 2023 and is projected to reach US$110.39 billion by 2029.
- The global cardiac rhythm management devices market size was estimated at USD 20.77 billion in 2024 and is projected to reach USD 36.19 billion by 2033.
- The global electrophysiology devices market size was estimated at USD 10.07 billion in 2023 and is projected to reach USD 25.00 billion by 2030.
- The global structural heart devices market size was estimated at USD 16.13 billion in 2024 and is projected to reach USD 50.99 billion by 2033.
- For diabetes care, specifically continuous glucose monitoring (CGM) devices, the global market was valued at USD 10.9 billion in 2024 and is projected to grow to USD 47.1 billion by 2034. The wider global diabetes care devices market was valued at USD 53.5 billion in 2024 and is projected to reach USD 167.5 billion by 2034.
- The global neuromodulation devices market size was estimated at USD 6.37 billion in 2025 and is projected to reach USD 13.93 billion by 2033.
AI Analysis | Feedback
Abbott Laboratories (ABT) is expected to drive future revenue growth over the next two to three years through several key areas:
- Continuous Glucose Monitoring (CGM) with FreeStyle Libre: The FreeStyle Libre platform is consistently highlighted as a significant contributor to growth within Abbott's diabetes care portfolio. This segment experienced 12% growth in the fourth quarter of 2025 and 17% for the full year, with sales exceeding $7.5 billion, driven by strong market fundamentals, cost leadership, and ongoing innovation leading to increased adoption. The company announced positive results from the FreeDM2 Randomized Controlled Trial demonstrating glucose management improvements with Libre technology.
- New Product Launches and Approvals in Medical Devices: The Medical Devices segment continues to be a strong performer, with double-digit sales growth. Specific innovations like the Volt™ PFA System and TactiFlex™ Duo Ablation Catheter in Electrophysiology, along with the Aveir™ leadless pacemaker in Rhythm Management, are expected to fuel continued expansion. Abbott received FDA approval for prone MRI use with neuromodulation systems in January 2026, expanding access for its chronic pain device portfolio.
- Expansion into Cancer Diagnostics via Exact Sciences Acquisition: Abbott's agreement to acquire Exact Sciences, expected to close in the second quarter of 2026, strategically positions the company to enter and lead in the fast-growing cancer diagnostics market. This acquisition is a significant move to expand Abbott's diagnostics footprint.
- Growth in Established Pharmaceutical Products (EPD) in Emerging Markets: The Established Pharmaceutical Products segment has shown growth, particularly with double-digit increases in markets such as India, Latin America, and the Middle East. Abbott is also initiating the launch sequence to bring biosimilars to emerging markets, which is expected to contribute to future growth.
- Nutrition Segment Recovery and New Product Introductions: While the Nutrition segment faced challenges in 2025, management anticipates a return to growth in the second half of 2026. This recovery is expected to be driven by a pivot towards volume-driven growth strategies and the launch of new products designed to meet evolving consumer preferences.
AI Analysis | Feedback
Share Repurchases
- Abbott's board authorized a share repurchase program of up to $5 billion of common shares in December 2021.
- In October 2024, a new share repurchase program of up to $7 billion of the company's common shares was authorized.
- Abbott repurchased $1.227 billion in 2023, $1.295 billion in 2024, and $893 million in 2025.
Share Issuance
No significant information available for share issuance over the last 3-5 years.
Inbound Investments
No significant information available for large inbound investments by third-parties in Abbott Laboratories over the last 3-5 years.
Outbound Investments
- In April 2023, Abbott acquired Cardiovascular Systems, Inc. (CSI), a developer of atherectomy systems for peripheral and coronary artery disease, for approximately $851 million to $890 million.
- Abbott acquired Bigfoot Biomedical in September 2023, focusing on smart insulin management systems for diabetes, expanding its presence in diabetes care.
- In November 2025, Abbott announced an agreement to acquire Exact Sciences Corp. for an estimated $21 billion to $23 billion, aiming to enhance its diagnostics segment, particularly in cancer testing.
Capital Expenditures
- Abbott's capital expenditures were $1.885 billion in 2021, $1.777 billion in 2022, $2.202 billion in 2023, $2.207 billion in 2024, and $2.171 billion in 2025.
- These expenditures were primarily for upgrading and expanding manufacturing and research and development facilities and equipment across various segments.
- Investments in information technology and laboratory instruments placed with customers also constituted a significant portion of capital expenditures.
Peer Outperformance in Health Care Equipment
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| ABT | Abbott Laboratories | 6.5% | 42.6x | -5.9% | 28.4% | -1.2% | — |
| ITGR | Integer | 6.8% | 41.6x | 84.6% | 46.4% | 41.8% | +43pp |
| SYK | Stryker | 9.8% | 35.8x | -5.3% | 26.7% | 32.6% | +34pp |
| BDX | Becton Dickinson | 7.1% | 61.1x | 52.4% | 9.3% | 22.2% | +23pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Health Care Distributors | 6 | 13.4% | 63.7% | 103.3% | CAH 490% · MCK 391% · COR 194% |
| Health Care Services | 20 | 44.0% | 33.3% | 11.6% | HIMS 220% · RDNT 148% · DGX 96% |
| Managed Health Care | 8 | 44.6% | 5.6% | 0.6% | OSCR 107% · HQY 59% · ELV 11% |
| Health Care Facilities | 25 | 16.9% | 18.4% | -3.0% | THC 302% · NHC 241% · EHC 202% |
| Health Care Equipment ← | 50 | 14.4% | 18.7% | -15.0% | UFPT 408% · GKOS 348% · PLSE 147% |
| Pharmaceuticals | 60 | -5.1% | 8.2% | -35.2% | LQDA 999% · KNSA 546% · LLY 448% |
| Health Care Supplies | 11 | 34.9% | 23.0% | -36.1% | LNTH 267% · HAE 76% · MMSI 33% |
| Life Sciences Tools & Services | 108 | -6.2% | -10.3% | -74.1% | AXGN 288% · NTRA 253% · MEDP 189% |
| Biotechnology | 364 | -21.1% | -31.5% | -81.7% | ELVN 1112% · TRVI 1046% · DNTH 930% |
| Health Care Technology | 21 | -23.4% | -56.5% | -82.3% | VEEV -3% · DOCS -52% |
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 175.32 |
| Mkt Cap | 182.9 |
| Rev LTM | 42,446 |
| Op Inc LTM | 6,897 |
| FCF LTM | 6,444 |
| FCF 3Y Avg | 6,123 |
| CFO LTM | 8,445 |
| CFO 3Y Avg | 8,026 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 8.6% |
| Rev Chg 3Y Avg | 6.3% |
| Rev Chg Q | 8.7% |
| QoQ Delta Rev Chg LTM | 2.1% |
| Op Inc Chg LTM | 9.0% |
| Op Inc Chg 3Y Avg | 5.3% |
| Op Mgn LTM | 19.7% |
| Op Mgn 3Y Avg | 18.9% |
| QoQ Delta Op Mgn LTM | -0.2% |
| CFO/Rev LTM | 20.7% |
| CFO/Rev 3Y Avg | 21.0% |
| FCF/Rev LTM | 16.2% |
| FCF/Rev 3Y Avg | 16.0% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Medical Devices | 21,387 | 18,986 | 16,887 | 14,802 | 14,485 |
| Diagnostic Products | 8,937 | 9,341 | 9,988 | 16,469 | 15,526 |
| Nutritional Products | 8,451 | 8,413 | 8,154 | 7,459 | 8,294 |
| Established Pharmaceutical Products | 5,536 | 5,194 | 5,066 | 4,912 | 4,718 |
| Other | 17 | 16 | 14 | 11 | 52 |
| Total | 44,328 | 41,950 | 40,109 | 43,653 | 43,075 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Medical Devices | 7,212 | 6,153 | 5,306 | 4,436 | 4,533 |
| Diagnostic Products | 1,740 | 2,073 | 2,433 | 6,640 | 6,237 |
| Nutritional Products | 1,558 | 1,505 | 1,333 | 706 | 1,763 |
| Established Pharmaceutical Products | 1,290 | 1,233 | 1,206 | 1,049 | 889 |
| Total | 11,800 | 10,964 | 10,278 | 12,831 | 13,422 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Goodwill and intangible assets | 29,561 | 29,755 | 32,494 | ||
| All other | 20,002 | 18,165 | 8,458 | ||
| Medical Devices | 10,689 | 9,472 | 9,029 | 7,844 | 7,261 |
| Cash and investments | 9,857 | 8,853 | 8,078 | ||
| Diagnostic Products | 8,273 | 7,678 | 7,767 | 7,985 | 7,699 |
| Nutritional Products | 4,791 | 4,404 | 4,270 | 3,625 | 3,425 |
| Established Pharmaceutical Products | 3,540 | 3,087 | 3,118 | 2,883 | 2,789 |
| Total | 86,713 | 81,414 | 73,214 | 22,337 | 21,174 |
Price Behavior
| Market Price | $115.51 | |
| Market Cap ($ Bil) | 200.3 | |
| First Trading Date | 04/06/1983 | |
| Distance from 52W High | -9.3% | |
| 50 Days | 200 Days | |
| DMA Price | $103.61 | $100.35 |
| DMA Trend | down | down |
| Distance from DMA | 11.5% | 15.1% |
| 3M | 1YR | |
| Volatility | 25.0% | 28.2% |
| Downside Capture | -21.37 | -11.84 |
| Upside Capture | -11.07 | -22.27 |
| Correlation (S&P 500) | -11.2% | -1.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.62 | -0.21 | -0.22 | -0.38 | -0.02 | 0.18 |
| Up Beta | 3.78 | 0.39 | -0.08 | -0.66 | 0.17 | 0.24 |
| Down Beta | -0.04 | -0.58 | -0.35 | 0.18 | 0.18 | 0.29 |
| Up Capture | -42% | -29% | -17% | -18% | -13% | 2% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 14 | 21 | 33 | 65 | 119 | 386 |
| Down Capture | -166% | -3% | -30% | -108% | -11% | 12% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 8 | 22 | 31 | 61 | 132 | 365 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ABT | |
|---|---|---|---|---|
| ABT | -4.4% | 28.2% | -0.18 | - |
| Sector ETF (XLV) | 33.1% | 16.7% | 1.53 | 51.6% |
| Equity (SPY) | 13.2% | 12.9% | 0.68 | 1.0% |
| Gold (GLD) | 1.0% | 28.8% | 0.03 | 2.3% |
| Commodities (DBC) | 35.9% | 21.2% | 1.34 | -21.1% |
| Real Estate (VNQ) | 14.3% | 14.1% | 0.70 | 40.3% |
| Bitcoin (BTCUSD) | -28.2% | 43.4% | -0.65 | -7.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ABT | |
|---|---|---|---|---|
| ABT | -0.0% | 23.3% | -0.05 | - |
| Sector ETF (XLV) | 9.3% | 15.3% | 0.40 | 60.7% |
| Equity (SPY) | 12.5% | 17.2% | 0.55 | 36.2% |
| Gold (GLD) | 17.3% | 19.1% | 0.73 | 7.1% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | -4.7% |
| Real Estate (VNQ) | 1.8% | 18.9% | -0.01 | 47.3% |
| Bitcoin (BTCUSD) | 5.5% | 51.5% | 0.29 | 10.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ABT | |
|---|---|---|---|---|
| ABT | 13.3% | 24.1% | 0.52 | - |
| Sector ETF (XLV) | 12.5% | 16.8% | 0.61 | 70.7% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 53.2% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 6.6% |
| Commodities (DBC) | 7.4% | 18.1% | 0.33 | 7.0% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 47.3% |
| Bitcoin (BTCUSD) | 61.0% | 66.2% | 1.01 | 10.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 10/30/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/21/2026 | -1.9% | 0.6% | |
| 7/16/2026 | 10.7% | 12.7% | 24.6% |
| 4/16/2026 | -6.0% | -9.7% | -16.4% |
| 1/22/2026 | -10.0% | -12.2% | -7.1% |
| 10/15/2025 | -2.4% | -3.9% | -2.9% |
| 7/17/2025 | -8.5% | -4.5% | -1.9% |
| 4/16/2025 | 2.8% | 2.9% | 5.6% |
| 1/22/2025 | 0.8% | 9.1% | 14.0% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 14 | 12 |
| # Negative | 16 | 11 | 12 |
| Median Positive | 3.3% | 3.0% | 5.8% |
| Median Negative | -2.7% | -2.5% | -4.0% |
| Max Positive | 10.7% | 12.7% | 24.6% |
| Max Negative | -10.0% | -12.2% | -16.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/21/2026 | -1.9% | 0.6% | |
| 7/16/2026 | 10.7% | 12.7% | 24.6% |
| 4/16/2026 | -6.0% | -9.7% | -16.4% |
| 1/22/2026 | -10.0% | -12.2% | -7.1% |
| 10/15/2025 | -2.4% | -3.9% | -2.9% |
| 7/17/2025 | -8.5% | -4.5% | -1.9% |
| 4/16/2025 | 2.8% | 2.9% | 5.6% |
| 1/22/2025 | 0.8% | 9.1% | 14.0% |
| 10/16/2024 | 1.5% | 0.1% | -0.3% |
| 7/18/2024 | -4.4% | 2.5% | 6.0% |
| 4/17/2024 | -3.0% | -1.5% | -4.2% |
| 1/24/2024 | -2.8% | -0.5% | 4.4% |
| 10/18/2023 | 3.7% | 2.9% | 6.4% |
| 7/20/2023 | 4.2% | 6.3% | -2.2% |
| 4/19/2023 | 7.8% | 5.6% | 4.5% |
| 1/25/2023 | -1.4% | -1.8% | -8.9% |
| 10/19/2022 | -6.5% | -6.7% | -1.3% |
| 7/20/2022 | -1.5% | -0.8% | 0.6% |
| 4/20/2022 | 2.2% | -2.5% | -6.0% |
| 1/26/2022 | -2.6% | 3.2% | -3.7% |
| 10/20/2021 | 3.3% | 7.4% | 7.8% |
| 7/22/2021 | -0.6% | 1.3% | 5.7% |
| 4/20/2021 | -3.6% | -1.6% | -6.1% |
| 1/27/2021 | -0.4% | 4.8% | 6.0% |
| 10/21/2020 | -2.2% | 0.2% | 1.3% |
| SUMMARY STATS | |||
| # Positive | 9 | 14 | 12 |
| # Negative | 16 | 11 | 12 |
| Median Positive | 3.3% | 3.0% | 5.8% |
| Median Negative | -2.7% | -2.5% | -4.0% |
| Max Positive | 10.7% | 12.7% | 24.6% |
| Max Negative | -10.0% | -12.2% | -16.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/04/2026 | 10-Q |
| 06/30/2026 | 07/28/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/20/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2026 | 11/04/2026 | 10-Q |
| 06/30/2026 | 07/28/2026 | 10-Q |
| 03/31/2026 | 04/29/2026 | 10-Q |
| 12/31/2025 | 02/20/2026 | 10-K |
| 09/30/2025 | 10/29/2025 | 10-Q |
| 06/30/2025 | 07/30/2025 | 10-Q |
| 03/31/2025 | 04/30/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 07/31/2024 | 10-Q |
| 03/31/2024 | 05/02/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 11/01/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/17/2023 | 10-K |
| 09/30/2022 | 11/01/2022 | 10-Q |
| 06/30/2022 | 08/02/2022 | 10-Q |
| 03/31/2022 | 05/03/2022 | 10-Q |
| 12/31/2021 | 02/18/2022 | 10-K |
| 09/30/2021 | 11/03/2021 | 10-Q |
| 06/30/2021 | 08/04/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 02/19/2021 | 10-K |
| 09/30/2020 | 11/04/2020 | 10-Q |
| 06/30/2020 | 07/29/2020 | 10-Q |
| 03/31/2020 | 04/29/2020 | 10-Q |
| 12/31/2019 | 02/21/2020 | 10-K |
Recent Forward Guidance
Updated 10/22/2026Latest: Q3 2026 Earnings Reported 10/21/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Adjusted Diluted Earnings Per Share | Reported | 1.62 | 1.65 | 1.67 | 15.8% | Higher New | Guidance: 1.42 for Q3 2026 | |
| 2026 Comparable Sales Growth | Reported | 6.0% | -1.0% | Lowered | Guidance: 7.0% for 2026 | |||
| 2026 Adjusted Diluted Earnings Per Share | Reported | 5.5 | 5.53 | 5.55 | 0.0% | Affirmed | Guidance: 5.53 for 2026 | |
Prior: Q2 2026 Earnings Reported 7/16/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Adjusted Diluted EPS | Reported | 1.38 | 1.42 | 1.46 | 10.9% | Higher New | Guidance: 1.28 for Q2 2026 | |
| 2026 Comparable Sales Growth | Reported | 6.5% | 7.0% | 7.5% | 0.0% | Affirmed | Guidance: 7.0% for 2026 | |
| 2026 Adjusted Diluted EPS | Reported | 5.45 | 5.53 | 5.6 | 0.8% | Raised | Guidance: 5.48 for 2026 | |
Q1 2026 Earnings Reported 4/16/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Comparable Sales Growth | Reported | 6.5% | 7.0% | 7.5% | 0.0% | Affirmed | Guidance: 7.0% for 2026 | |
| 2026 Adjusted Diluted EPS | Reported | 5.38 | 5.48 | 5.58 | -3.4% | Lowered | Guidance: 5.68 for 2026 | |
| Q2 2026 Adjusted Diluted EPS | Reported | 1.25 | 1.28 | 1.31 | ||||
Q4 2025 Earnings Reported 1/22/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Adjusted Diluted EPS | Reported | 1.12 | 1.15 | 1.18 | ||||
| 2026 Organic Sales Growth | Reported | 6.5% | 7.0% | 7.5% | 7.7% | 0.5% | Higher New | Actual: 6.5% for 2025 |
| 2026 Adjusted Diluted EPS | Reported | 5.55 | 5.68 | 5.8 | 10.2% | Higher New | Actual: 5.15 for 2025 | |
Insider Activity
Updated 9/25/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McCoy, John A JR | VICE PRESIDENT AND CONTROLLER | Direct | Sell | 9032026 | 109.54 | 27 | 2,958 | 2,689,097 | Form |
| 2 | Ford, Robert B | CHAIRMAN AND CEO | Direct | Sell | 8272026 | 115.85 | 398,832 | 46,204,798 | 35,503,592 | Form |
| 3 | Morrone, Louis H | EXECUTIVE VICE PRESIDENT | Direct | Sell | 8132026 | 109.83 | 5,850 | 642,506 | 7,767,617 | Form |
| 4 | Stratton, John G | Direct | Buy | 6182026 | 86.82 | 2,000 | 173,640 | 2,024,556 | Form | |
| 5 | Starks, Daniel J | Direct | Buy | 4282026 | 92.65 | 10,000 | 926,537 | 625,514,672 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | McCoy, John A JR | VICE PRESIDENT AND CONTROLLER | Direct | Sell | 9032026 | 109.54 | 27 | 2,958 | 2,689,097 | Form |
| 2 | Ford, Robert B | CHAIRMAN AND CEO | Direct | Sell | 8272026 | 115.85 | 398,832 | 46,204,798 | 35,503,592 | Form |
| 3 | Morrone, Louis H | EXECUTIVE VICE PRESIDENT | Direct | Sell | 8132026 | 109.83 | 5,850 | 642,506 | 7,767,617 | Form |
| 4 | Stratton, John G | Direct | Buy | 6182026 | 86.82 | 2,000 | 173,640 | 2,024,556 | Form | |
| 5 | Starks, Daniel J | Direct | Buy | 4282026 | 92.65 | 10,000 | 926,537 | 625,514,672 | Form | |
| 6 | Boudreau, Philip P | EVP AND CFO | Spouse | Buy | 4272026 | 91.50 | 2,200 | 201,300 | 201,300 | Form |
| 7 | Shroff, Eric | Senior Vice President | Direct | Sell | 3032026 | 115.58 | 709 | 81,946 | 4,526,575 | Form |
| 8 | Salvadori, Daniel Gesua Sive | EVP AND GROUP PRESIDENT | Direct | Sell | 3032026 | 115.58 | 885 | 102,288 | 16,918,254 | Form |
| 9 | Morrone, Louis H | EXECUTIVE VICE PRESIDENT | Direct | Sell | 3032026 | 115.58 | 1,144 | 132,224 | 8,881,514 | Form |
| 10 | Moreland, Mary K | EXECUTIVE VICE PRESIDENT | Direct | Sell | 3032026 | 115.58 | 613 | 70,851 | 12,053,954 | Form |
| 11 | McCoy, John A JR | VICE PRESIDENT AND CONTROLLER | Direct | Sell | 3032026 | 115.58 | 585 | 67,614 | 2,846,504 | Form |
| 12 | Cushman, Elizabeth C | EVP, GC AND SECRETARY | Direct | Sell | 3032026 | 115.58 | 263 | 30,398 | 4,458,267 | Form |
| 13 | Starks, Daniel J | Direct | Buy | 2062026 | 108.73 | 10,000 | 1,087,331 | 732,732,734 | Form | |
| 14 | Ford, Robert B | CHAIRMAN AND CEO | Ford Family Trust | Buy | 1262026 | 107.13 | 18,800 | 2,013,967 | 23,160,941 | Form |
| 15 | Shroff, Eric | Senior Vice President | Direct | Sell | 11252025 | 128.02 | 1,586 | 203,043 | 3,889,814 | Form |
Investor Activity (13F)
Updated Nov 5, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Coerente Capital Management | $23.2 Mil | 4.3% | 47 | Hold | 13F |
| America First Investment Advisors, LLC | $22.7 Mil | 4.2% | 41 | ADD +11.2% | 13F |
| WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST | $320.8 Mil | 4.0% | 21 | Hold | 13F |
| Dundas Partners LLP | $43.5 Mil | 3.5% | 49 | Hold | 13F |
| Bruce & Co., Inc. | $11.7 Mil | 3.3% | 41 | Hold | 13F |
| J. Stern & Co. LLP | $32.4 Mil | 3.1% | 49 | TRIM -99.2% | 13F |
| Locust Wood Capital Advisers, LLC | $111.4 Mil | 3.0% | 27 | ADD +13.4% | 13F |
| Brandywine Trust Co | $12.0 Mil | 2.2% | 31 | Hold | 13F |
| Sector Gamma AS | $9.0 Mil | 2.1% | 42 | New | 13F |
| Blackhill Capital Inc | $27.6 Mil | 1.4% | 49 | Hold | 13F |
| Sanders Capital, LLC | $115.1 Mil | 0.1% | 44 | Hold | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST | $320.8 Mil | 4.0% | 21 | Hold | 13F |
| Sanders Capital, LLC | $115.1 Mil | 0.1% | 44 | Hold | 13F |
| Locust Wood Capital Advisers, LLC | $111.4 Mil | 3.0% | 27 | ADD +13.4% | 13F |
| Dundas Partners LLP | $43.5 Mil | 3.5% | 49 | Hold | 13F |
| J. Stern & Co. LLP | $32.4 Mil | 3.1% | 49 | TRIM -99.2% | 13F |
| Blackhill Capital Inc | $27.6 Mil | 1.4% | 49 | Hold | 13F |
| Coerente Capital Management | $23.2 Mil | 4.3% | 47 | Hold | 13F |
| America First Investment Advisors, LLC | $22.7 Mil | 4.2% | 41 | ADD +11.2% | 13F |
| Brandywine Trust Co | $12.0 Mil | 2.2% | 31 | Hold | 13F |
| Bruce & Co., Inc. | $11.7 Mil | 3.3% | 41 | Hold | 13F |
| Sector Gamma AS | $9.0 Mil | 2.1% | 42 | New | 13F |
ABT Trade Sentinel
Constructive
CONVICTION RATIONALE
Abbott is executing a major portfolio shift, acquiring a high-growth cancer diagnostics business and spinning off its slower Nutrition segment. This strategic clarity is promising, but near-term execution is challenged by a material slowdown in its core glucose monitoring business and significant margin pressure. The investment case hinges on management successfully navigating this complex transition.
STOCK ARCHETYPE
Diversified Healthcare ProductsVolume x Price, across a diversified portfolio of four distinct business segments. Mix shift towards the higher-margin Medical Devices segment and successful commercialization of new, innovative products within that segment.
INVESTMENT THESIS
Evidence suggests yes. The company is adding a 14% growing cancer diagnostics business and shedding its slower Nutrition segment, aiming to accelerate overall growth and expand margins post-2027.
- The company announced its intention to separate its $8.5 billion Nutrition business by the end of 2027.
- The new Cancer Diagnostics segment is growing sales at 14%, driven by its Cologuard test.
- In rhythm management, sales grew 10%, driven by increased adoption of the AVEIR pacemaker.
- The company is launching its new Libre Duo dual glucose-ketone sensor in the U.S. in December.
PRIMARY RISK
The key organic growth driver, continuous glucose monitoring (CGM), is decelerating sharply. Management has guided growth down from 8% to a "low to mid-single range" for the next few quarters, citing pricing pressure and slower market penetration. This slowdown, combined with significant margin compression, could overwhelm benefits from the portfolio shift.
- Management expects CGM growth to be in the 'low to mid-single range' for the next few quarters.
- CGM sales growth decelerated to 8% in the most recent quarter.
- Management noted 'a little bit more pricing pressure in the international markets' for its diabetes business.
- Trailing-twelve-month operating margin declined to 13.8% from 17.6% a year earlier.
- Full-year 2026 comparable sales growth guidance was lowered in October 2026.
| KPI | Status | Rationale |
|---|---|---|
| Continuous Glucose Monitoring (CGM) Sales Growth | 8% growth in Q3 2026 - Decelerating | The key organic growth driver is decelerating from a high of 12% in late 2025. Management attributed the slowdown to a lack of new reimbursement expansions and increased international pricing pressure, forecasting growth to slow further to the "low to mid-single range" for the next few quarters. |
| Cancer Diagnostics Sales Growth | 14% growth in Q3 2026 - Accelerating | The new Cancer Diagnostics segment, added via the Exact Sciences acquisition, is showing stable and slightly accelerating high growth. Management noted that Q3 growth was strong but came in slightly below internal expectations due to a cybersecurity event. |
| Remaining Performance Obligations (RPO) | $6.2 billion in Diagnostic Products, $480 million in Medical Devices, and $240 million in Established Pharmaceutical Products (As of September 30, 2026) | Represents the estimated revenue expected to be recognized in the future from unsatisfied performance obligations, primarily reflecting future sales of consumables in contracts with minimum purchase obligations and extended service agreements. It provides a partial view of future revenue. |
Portfolio Reshaping vs. Core Deceleration
BULL VIEW
The spin-off of the $8.5 billion Nutrition business and growth from the new 14% growing Cancer Diagnostics segment will create a structurally faster-growing, higher-margin company, making the near-term CGM slowdown a manageable transition.
CORE TENSION
Can the new 14% growing Cancer Diagnostics segment offset the CGM business slowing from 8% to low-single-digits?
PREVAILING SENTIMENT
The latest guidance cut for full-year sales suggests the slowdown is currently winning. The market's neutral reaction indicates it is waiting for proof the strategy is working.
BEAR VIEW
The CGM slowdown to 'low to mid-single' digits is a structural problem. Severe margin compression (down 14% YoY) and high debt from acquisitions create significant risk if the strategic pivot does not deliver growth quickly.
| Timeline | Event & Metric To Watch |
|---|---|
1/20/2027 | Slowing Diabetes Care Growth Watch: Q4 Diabetes Care segment growth rate and management's commentary on CGM pricing and reimbursement progress. |
1/20/2027 | Challenged Nutrition Business Performance Watch: Q4 Nutritional Products segment sales, specifically the mix of volume and price, and any update on the spin-off timeline. |
1/26/2027 | Peer JNJ Earnings Watch: Peer Johnson & Johnson (JNJ) is scheduled to report earnings on 1/26/2027. |
1/26/2027 | Peer DHR Earnings Watch: Peer Danaher (DHR) is scheduled to report earnings on 1/26/2027. |
No set date | Exact Sciences Integration Headwinds Watch: Cancer Diagnostics segment growth relative to its 7.0% Q3 rate and any management commentary on integration milestones or disruptions. |
No set date | Adverse Tax Dispute Ruling Watch: Any 8-K filing or press release announcing a settlement or ruling related to the IRS or Malaysian tax disputes. |
in December | Libre Duo US Launch Watch: The company expects to launch its Libre Duo dual glucose-ketone sensor in the U.S. in December. |
| Date | Event | Stock Impact |
|---|---|---|
2026-10-29 | Pivotal Trial for Cephea Initiated Details: On 2026-10-29, press reports announced the initiation of the CROWN-MV pivotal trial to evaluate the company's investigational Cephea Mitral Valve System for treating mitral valve disease. | +3.5% $102.64 -> $106.20 |
2026-10-21 | Q3 Results and Guidance Update Details: On 2026-10-21, the company reported Q3 comparable sales growth of 7.0% and adjusted EPS of $1.42. Concurrently, it lowered its guidance for 2026 Comparable Sales Growth. | +0.1% $102.45 -> $102.51 |
2026-10-21 | Nutrition Business Spin-Off Announced Details: On 2026-10-21, the company announced its intention to separate its Nutrition business into an independent, publicly traded company with approximately $8.5 billion in annual sales. The separation is expected to be completed by the end of 2027. | +0.1% $102.45 -> $102.51 |
2026-09-14 | DOJ Settlement Reached Details: On 2026-09-14, press reports stated the company reached an agreement with the Department of Justice to resolve claims related to the 2022 infant formula recall, with a payment of approximately $385 million. | +0.1% $101.33 -> $101.41 |
2026-08-25 | FDA Authorizes Libre Duo Details: On 2026-08-25, press reports announced the company received FDA authorization for its Libre Duo 10 Day, described as the world's first dual glucose-ketone sensing technology for people with diabetes. | -2.2% $115.96 -> $113.40 |
2026-07-16 | Q2 Earnings Beat and Raise Details: On 2026-07-16, the company reported Q2 comparable sales growth of 4.8% and raised its full-year adjusted EPS guidance to a range of $5.45 to $5.60. The stock reacted positively, up 13.0% over two days. | +12.8% $88.72 -> $100.06 |
2026-05-27 | ACS Guideline Reaffirms Cologuard Details: On 2026-05-27, press reports indicated an updated American Cancer Society guideline reaffirmed Cologuard and Cologuard Plus as preferred options for noninvasive colorectal cancer screening. | -0.4% $85.53 -> $85.16 |
Position Sizing
4% - 6%
NORMAL POSITION
Sizing is volatility-based: ABT trades at roughly 23% annualized realized (three-month) volatility versus about 10% for the S&P 500 (2.3x the market). A 4% - 6% position keeps a single-name swing of that size within a diversified portfolio's risk budget.
Diversification Alternatives
JNJ - Johnson & Johnson
Scale and ProfitabilityJohnson & Johnson offers significantly larger scale, with revenue 2.1 times Abbott's, and superior profitability, with a 25.7% operating margin compared to Abbott's 13.8%.
MDT - Medtronic
Focused MedTech PeerMedtronic provides more focused exposure to the medical device market and has demonstrated stronger recent growth in its Diabetes business at 15%. It also has a higher operating margin of 19%.
Abbott is a MedTech-centric growth company actively shaping its portfolio by acquiring high-growth cancer diagnostics and spinning off its slower-growth, consumer-facing Nutrition business.
Abbott's core is its innovative, high-margin Medical Devices business, particularly in cardiovascular and diabetes care, which is its primary engine for growth and profit. The company is executing a significant portfolio transformation by acquiring Exact Sciences to build a new growth pillar in cancer diagnostics while simultaneously preparing to separate its legacy Nutrition business. This strategic repositioning aims to create a faster-growing, higher-margin healthcare company focused on technology-driven markets.
Sustained double-digit growth in Electrophysiology and Rhythm Management, successful integration of Exact Sciences with accelerating Cancer Diagnostics revenue, and a smooth, value-accretive separation of the Nutrition business.
Market share losses in key Medical Device segments like CGM or Electrophysiology, failure to realize synergies or growth from the Exact Sciences acquisition, or a disorderly or poorly-received spin-off of the Nutrition business.
Short-term fluctuations in the Nutrition segment's performance ahead of its planned separation; quarterly variations in COVID-19 testing revenue.
Repricing Catalyst
The planned separation of the Nutrition business into an independent public company, expected to be completed by the end of 2027, which will accelerate Abbott's sales growth and expand its margin profile.
Medical Devices
$22.5B TTM (48% of Total) · 34% MarginWhat It Is
Sells a broad line of devices for cardiovascular diseases (rhythm management, electrophysiology, heart failure, vascular, structural heart), diabetes care (continuous glucose monitoring), and neuromodulation for chronic pain and movement disorders. Products are sold to wholesalers, hospitals, ambulatory surgery centers, and physicians' offices.
Who Pays & How
Hospitals, health systems, and distributors pay for devices that offer technological innovation, improved patient outcomes, and overall cost-effectiveness. Competition is based on product performance, convenience, and service.
Competition
Diagnostic Products
$10.0B TTM (21% of Total) · 18% MarginWhat It Is
Sells a broad line of diagnostic systems and tests, including core laboratory systems (immunoassay, chemistry, hematology), molecular diagnostics, point-of-care devices, and rapid diagnostics. Customers include blood banks, hospitals, commercial labs, clinics, and government agencies. The recent acquisition of Exact Sciences adds cancer diagnostics.
Who Pays & How
Hospitals and laboratories pay for systems that improve laboratory efficiency, offer technological innovation, and provide cost-effectiveness. The acquisition of Exact Sciences establishes a position in the cancer diagnostics market.
Competition
Nutritional Products
$8.3B TTM (18% of Total) · 17% MarginWhat It Is
Sells a broad line of pediatric and adult nutritional products, including infant formulas (Similac), adult nutritionals (Ensure, Glucerna), and therapeutic nutrition for healthcare institutions. Products are sold to consumers, institutions, wholesalers, and retailers.
Who Pays & How
Consumers, retailers, and institutions pay for trusted, scientifically-formulated brands that meet specific nutritional needs for infants, adults, and patients with medical conditions.
Competition
Established Pharmaceutical Products
$5.8B TTM (12% of Total) · 24% MarginWhat It Is
Sells a broad line of branded generic pharmaceuticals outside the United States, primarily in emerging markets. The portfolio covers gastroenterology, women's health, cardiovascular, and other therapeutic areas. Products are sold to wholesalers, distributors, government agencies, and pharmacies.
Who Pays & How
Wholesalers, distributors, and government agencies in emerging markets pay for high-quality, branded medicines tailored to local healthcare needs. Abbott focuses on building strong brands with consumers, pharmacists, and physicians.
Competition
Abbott Laboratories — Investor Video Playlist
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.