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Why Abbott Laboratories Stock Looks Ridiculously Overpriced

Why Abbott Laboratories Stock Looks Ridiculously Overpriced

Abbott Laboratories (NYSE: ABT) has had a volatile couple of years. It benefited from COVID-related tests boosting its sales, but last year it ran into manufacturing issues that affected its baby formula production and hurt sales in its nutritional segment. The business is now getting back to normal, but the problem is that its valuation still needs to come down significantly before it's a worthwhile buy.