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Abbott Labs Earnings, Sales Miss; ABT Stock Falls

Abbott Laboratories (ABT) on Tuesday reported adjusted earnings of $1.32 per share on $10.5 billion in sales for its first quarter. In response, ABT stock fell.




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Analysts polled by Zacks Investment Research expected Abbott to earn $1.33 per share on $10.84 billion in sales.

In the year-earlier period, Abbott earned 65 cents per share and reported $7.73 billion in sales.

For the year ending in 2021, the health care company still sees adjusted profit of at least $5 a share. Analysts called for adjusted profit of $5.07 a share and $42.43 billion in sales.

In premarket trading on the stock market today, ABT stock fell 3.2% to 120.53. Shares are currently forming a flat base with a buy point at 128.64, according to MarketSmith.com.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.

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