Abbott’s share price soared as COVID-19 testing demand surged. Here’s what that may mean for the company’s fourth-quarter earnings
Abbott Laboratories Inc.’s
stock hit a 10-year high of $141.46 on Dec. 27 at the same time that people across the U.S. were scrambling to find COVID-19 tests due to the rapidly spreading omicron variant.
Abbott’s BinaxNow is one of the better-known brands of rapid, at-home COVID-19 tests available in the U.S. (The company markets a total of 12 molecular, antigen, and antibody COVID-19 tests worldwide, including several in the…