Abbott Laboratories

Abbott Laboratories (ABT) (Q3FY23) – Taming the cost curve with Libre sales

Highlights of the report

In Diabetes Care, Freestyle Libre sales surpassed $1.3bn in Q3FY23, marking a 25% growth on an organic basis. In Q3FY23, Libre achieved a milestone by becoming the first and only continuous glucose monitoring system to receive national reimbursement in France for all insulin-using individuals with diabetes. Abbott (ABT) distinguished itself through Libre, offering a fully-featured continuous glucose monitor at an affordable price.

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Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional  Products, and Medical Devices.

Abbott Laboratories revenue decreased to $10.14bn in Q3FY23 from $10.41bn in Q3FY22. The gross profit margin was 49.7% for Q3FY23 compared to 50.7% in Q3FY22. It decreased to 50.1% for the 9MFY23 compared to 52.1% for the 9MFY22. The decrease in the Q3FY23 and 9MFY23 reflects the unfavorable effects of lower sales of COVID-19 tests, foreign exchange, and higher costs for various manufacturing inputs. 

Over the past 3 months Abbott Laboratories stock price decreased by (1%) from $103.75 on 24th Aug 2023 to $102.70 on 23rd Nov 2023. The stock price declined by (3%) in the past 1-year from $105.39 on 28th Nov 2022 to $102.70 on 2nd Nov 2023.

Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– Economic Value Added Analysis
– Discounted Cash Flow Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

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Report details

Abbott Laboratories (ABT) (Q3FY23) – Taming the cost curve with Libre sales

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