Abbott Laboratories Shares Sink on Mixed Q1; New Dividend Declared

Although Abbott didn't hit the average analyst estimate of $10.69 billion on the top line, its per-share adjusted net profit beat the $1.27 forecast by those prognosticators. Zooming out, all four of the company's business units (nutrition, diagnostics, established pharmaceuticals, and medical devices) enjoyed sales increases, ranging widely from established pharmaceuticals' 2.5% to the nearly 120% of diagnostics. This is giving Abbott the confidence to predict robust adjusted earnings growth for the full year.