Abbott Laboratories
ABT - Insider Information
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+ FollowMarket Cap$186.45B
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Earnings Call Q3 2026
October 21, 2026 - AI Summary
Abbott plans to separate Nutrition into an independent, publicly traded company (major strategic “surprise”)
- Separation announced alongside Q3 results: tax-free distribution to Abbott shareholders (planned completion by end of next year, subject to approvals).
- Nutrition will be a globally scaled pure-play healthy nutrition company with ~$8.5B annual sales, ~16,000 employees, 14 manufacturing sites; CEO will be Daniel Salvadori (current Exec VP & Group President).
- Management rationale: growing consumer shift toward healthier nutrition; Nutrition needs freedom to invest faster (sales/marketing, potential tuck-ins) and sharpen focus to capture an “accelerating” opportunity.
- Spin vs sell: Abbott says selling would bring tax/timing constraints; spin is viewed as best for value creation.
- Dividend expectation: both Abbott and Nutrition will each pay dividends such that combined dividends equal Abbott’s dividend at separation.
Q3 financial performance: growth acceleration on top and bottom line
- Sales +7% (comparable); EPS +9%, described as acceleration vs first half.
- Diagnostics: sales +6.5% (core lab +5.5%; cancer diagnostics +14% driven by Cologuard, precision oncology, and international).
- Nutrition: sales +5% broad-based across U.S./international pediatric and adult; pediatric +9% with noted WIC contract wins earlier in the year supporting share recovery; adult +2% (U.S. retail consumption trending positive).
- EPD (Established Pharmaceuticals): +8.5% with broad geographic/therapy growth, including double-digit growth in parts of Asia/LatAm/Middle East.
- Medical devices: sales +8%, led by electrophysiology/rhythm management and strong adoption of newer platforms/catheters and continuous glucose monitoring (CGM +8%).
Full-year guidance / forecast: Q4 implied stronger growth, but company lowered revenue growth outlook
- Phil cited Q4 guidance leading to ~6% full-year revenue growth, implying ~8% growth in Q4 (investor interpretation; management confirmed the math direction).
- Key message: Q3 growth met expectations, but two businesses beat, one met, one missed, leading to the adjustment.
- Drivers of the weaker outlook (esp. Q4):
- Electrophysiology headwind tied to LAA market dynamics and “accounts waiting for the new product” behavior after CE Mark for Amulet 360; Abbott expects this to be a couple-quarter dynamic and the last quarter to show the offset.
- Diabetes: growth revised to low-to-mid single digit in the near term due to less penetration in type 2 without reimbursement expansion and international pricing pressure.
- Management expects re-acceleration after these short-term effects via catalysts (U.S. EP full-market releases, launches, share capture, and later reimbursement changes).
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$123.52
15.2% upside
Current Fair Value
15.2% upsideUndervalued by 15.2% based on the discounted cash flow analysis.
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Share Statistics
| Market cap | $186.45 Billion |
|---|---|
| Enterprise Value | $213.56 Billion |
| Annual dividend | $2.52 |
| Dividend yield | 2.29% |
| Earnings per Share | $3.74 |
| Beta | 0.54 |
| Outstanding Shares | 1,738,145,000 |
Return
| Return on Equity | 9.21% |
|---|---|
| Return on Assets | 4.34% |
| Return on Invested Capital | 7.82% |
Valuation & Multiples
| P/E Ratio | 40.71 |
|---|---|
| PEG | -92.45 |
| Price to Sales | 3.97 |
| Price to Book Ratio | 3.7 |
| Enterprise Value to Revenue | 4.43 |
| Enterprise Value to EBIT | 29.65 |
| Enterprise Value to Net Income | 45 |
| Total Debt to Enterprise | 0.15 |
| Debt to Equity | 0.61 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 21, 2026
EPS
$1.42
Est. $1.42Revenue
$13.01 B
Est. $12.99 BNext Earnings Call
Expected Date
January 28, 2027
EPS Estimate
$1.64
Consensus analyst estimateRevenue Estimate
$13.21 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 2.38, the ratio is above 1, so institutions hold more puts than calls. That is a more cautious stance.
| Put/Call Ratio | 2.3836▲ 139.70% |
|---|---|
| Total Calls | 261,200▼ 97.89% |
| Total Puts | 622,600▼ 94.90% |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 13.73%▼ 68.57% |
|---|---|
| Total Invested | $23.57B▼ 81.94% |
| Investors Holding | 1,814▼ 1262.00% |
About Abbott Laboratories
115,000 employees
CEO: Robert Ford
Abbott Laboratories is a global healthcare company that discovers, develops, manufactures, and sells a wide range of health products through its subsidiaries worldwide. The company operates across four principal segments: Established Pha...