Abbott (ABT) Stock Slides on Mixed Q3 Results – Is a Rally Over?
ABT shares closed at $128 on Oct. 15, down 3.5% for the day and about 2% for the week. Abbott reported Q3 revenue of $11.37 billion, up 6.9% year-over-year but slightly below estimates; adjusted EPS matched forecasts at $1.30. Medical Devices drove growth, while Diagnostics fell 6.6%. Investors sold off the stock after in-line results, with analysts maintaining a Hold rating and a $143.50 median price target.