Abbott cuts 2021 profit forecast on lower COVID-19 testing demand
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Abbott Laboratories (ABT) Falls After Cutting Full-Year Outlook on Lower Demand for Covid-19 Tests
June 1, 2021 10:56 AM EDTShares of Abbott Laboratories (NYSE: ABT) are down 6.5% in todays trading session after the company issued an updated 2021 outlook to reflect lower demand from its diagnostic unit.
The company cited significantly lower recent and projected COVID-19 diagnostic testing demand amid an accelerated vaccination activity.
Hence, the company now expects full-year 2021 EPS of $2.75 to $2.95 and full-year adjusted EPS of $4.30 to $4.50, below the consensus of... More
