Abbott Laboratories (ABT, Financial)
After having benefited from COVID testing this past year, Abbott Labs fell when it guided for lower earnings due to decreased demand in equipment. Abbott has a fortress balance sheet and has grown earnings at 17% annually over the last five years. Innovative products like the FreeStyle Libre blood glucose monitor franchise continue to drive growth. Healthcare stocks in general have lagged this year and we see many names that sell at the cheapest valuation versus the market in over 20 years, despite favorable demand demographics.
From Jeff Auxier (Trades, Portfolio)'s Auxier Asset Management summer 2021 market commentary.
