Why should investors consider buying Abbott stock right now?

CENTRAL, Hong Kong - Feb. 14, 2022 - PRLog -- While it may not appear as interesting as its similarly sized counterparts in pharma or medical robotics, this stock has a long term track record that sets it apart from the rest of the market altogether.

However, because many of Abbott's businesses are distinctly specialized, many investors may misinterpret the value of owning Abbott stock. For example, selling cardiac stents and Pedialyte might be profitable, but they don't appear to be in line for a gold rush of new demand any time soon. Abbott, on the other hand, is one of the most resilient because of its willingness to compete in these areas. So let's take a look at some of the ways in which Abbott may stand out above other similar stocks.

Given Abbott's market capitalization of $238 billion and trailing revenue of $42.3 billion, it should come as no surprise that the company fails to expand as quickly as smaller rivals could. Simply said, it's simpler to move from $1 billion to $2 billion in sales for firms that offer actual items like Abbott, than it is to grow from $40 billion to $80 billion. That's great, because the attractiveness of this company isn't the same as that of a fast growing software or emerging industry firm would.

Since the outbreak began, Abbott Labs has made billions of dollars in sales of Coronavirus diagnostic tests. In particular, BinaxNOW quick antigen test kits have a significant market share in the rapid testing industry. In the third quarter of 2021, the firm generated $1.9 billion from its coronavirus diagnostic products, accounting for a large chunk of its $10.9 billion in global revenue for the three month period. However, with the introduction of the Omicron version, testing income might soar. Due to the fact that many pharmacies and shops are barely able to maintain the tests in stock due to high demand, this quarter is expected to be a great one for sales.

Lastly, the current dividend yield on Abbott's stock is 1.4%. That's not a huge sum unless you consider that the corporation has raised its dividend every year for the past 50 years without fail and by the end of 2022, it'll almost certainly boost the dividend once again, ensuring its place among the Dividend Kings.

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