Abbott Laboratories(ABT) creates test that shows results in minuets
Abbott Laboratories(ABT) currently trades at $79.84 and has grown by 7% in the past 24 hours. Shares of Abbott Laboratories jumped as much as 13% on Monday after the US Food and Drug Administration on Friday granted Emergency Use Authorization of a COVID-19 test that delivers results in minutes. Abbott’s test, called the ID NOW COVID-19, is also used to test other viruses including Influenza A&B, Strep A, and respiratory syncytial virus (RSV) testing.
Based on this information, investorsQ rates this stock a 6 out of 10. We give it this rating because the company company also announced that it will ramp up production of the testing unit and expects to deliver 50,000 COVID-19 tests per day to healthcare professionals. The high forecast for Abbott Laboratories is $105 and the low is $87. Notably, the company’s market cap is $140.93 billion with a 52 week high of $92.45 and a 52 week low of $61.61.