ABT’s P/E as of Sep 18 is 35.50x (taking the latest closing price and the most recent earning EPS) compared to the industry level of 38.87x. Expected price to increase towards $117.00.
As the pandemic persists and the second wave has quickly increased the need for testing, Abbott Laboratories is shipping out 13 million antibody tests, 6 million molecular lab tests, and 7 million rapid ID NOW tests throughout the US (Orelli B, The Motley Fool, 2020). The latest development of the test is able to shorten the wait time for test results even further, increasing its strength in the industry. We don’t know how long the pandemic will last and how impactful its legacy will impact other industries, but the protective industry will for sure thrive for a while.