Abbott Laboratories' Q3 Somewhat a 'Mixed Bag' With Softened Outlook, Nutrition Spinoff, Oppenheimer Says

MT Newswires Live10-23 00:41

Abbott Laboratories (ABT) Q3 was a "mixed bag," with nutrition spinoff announcement and softened 2026 revenue growth outlook as price competition in diabetes care grows, Oppenheimer said in a note emailed Thursday.

Abbott reported Q3 adjusted earnings per share of $1.42, up from $1.30 a year earlier, and revenue of $13.01 billion, up 7% on a comparable basis.

The nutrition spinoff relieves pressure on Abbott's organic growth and margins, but the company must strengthen its heart rhythm franchise with new devices, Oppenheimer said.

The investment firm expects prices for Abbott's glucose monitors to fall 5% to 10% outside the US and sees no new product cycle to drive excitement in the stock, despite its diversified business.

Oppenheimer kept its outperform rating on the stock with $115 price target, citing the nutrition spinoff and Abbott's diversified business.

Price: 102.23, Change: +1.71, Percent Change: +1.71

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