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Mixing the Kool-Aid: Mad Scientists at Abbott Labs Drink Their Last! (ABT)

Posted on September 19, 2022

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Nota Bene: Changes to our publication schedule.

Next Monday, September 26th, on Rosh Hashana, there will be no letter.

A Jew and His Gold will publish as per usual next Thursday.

Publication of A Jew and His Money will resume the following Monday, October 3rd.

And now for today’s business…

Today’s trade takes on the misanthropes at Abbott Labs (NYSE:ABT), makers of Similac, the living mother substitute.

ABT has been pulling the wool over people’s eyes since 1888, piling up the profits (and the cadavers) from their headquarters in Chicago, Illinois as they peddle their broad ‘healthcare’ product line.

But not all is well in the den of these wicked mad scientists, and certainly not on the stock front.

As you’ll see below, the stock is already down some 28% from its all-time high back in December of last year.

And now it sits on the threshold of another meaningful dump.

But before we get to the chart, and our most excellent means of cashing in on the coming decline, consider the company’s fundamentals –

  • P/E is a relatively reasonable 21.61,
  • Dividend Yield is 1.81% per annum, while…
  • Price to Book is a black-eye, too high 5.00.
  • Most importantly, however, analysts are expecting earnings to DECLINE in the coming year by a full 7.01%.
  • In the last two months, no earnings revisions were positive, while six analysts readjusted their estimates lower.

And that doesn’t bode well.

At the same time, regulators are warning that the company’s MitraClip heart valve device has been malfunctioning – exactly as a new competitor enters the market.

In short, we got problems in the lab, Igor.

Now look at the chart –

May you be inscribed in the Book Life

for a sweet, healthy and profitable year.

With kind regards,

Hugh L. O’Haynew

 

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