Abbott's Second-Quarter Results Are Consistent With Our Expectations
Abbott Labs reported second-quarter results that contained few surprises, and we’re leaving our $44 fair value estimate unchanged. With quarterly operational revenue growth up 6%, Abbott remains on track to hit our projections for the full year, and we’re pleased to see operating margin increase 120 basis points year over year. We think the impending addition of St. Jude Medical should incrementally enhance Abbott’s narrow economic moat, but are not confident that economic profits will remain po...
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