5 Best Diabetes Stocks To Buy Now

In this article, we discuss 5 best diabetes stocks to buy now. If you want to see more stocks in this selection, check out 11 Best Diabetes Stocks To Buy Now. 

5. Abbott Laboratories (NYSE:ABT)

Number of Hedge Fund Holders: 62

Abbott Laboratories (NYSE:ABT) is one of the best diabetes stocks to invest in. The healthcare company operates through four segments – Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The Medical Devices segment provides diabetes care products. Abbott Laboratories (NYSE:ABT) raised its full-year 2022 EPS guidance, and the company now expects full-year diluted GAAP EPS of $3.75 to $3.81 and projects adjusted diluted EPS of $5.17 to $5.23, versus a prior guidance of $4.90 and a $5.04 consensus.

On October 26, Mizuho analyst Anthony Petrone assumed coverage of Abbott Laboratories (NYSE:ABT) with a Neutral rating and a $105 price target. The analyst said the Neutral rating balances the benefits of Abbott Laboratories (NYSE:ABT)’s “solid” presence in many of the quickest growing medical technology markets and “fortress” balance sheet against COVID testing and infant formula recall/relaunch headwinds.

According to Insider Monkey’s data, 62 hedge funds were bullish on Abbott Laboratories (NYSE:ABT) at the end of the third quarter of 2022, compared to 61 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company, with 9.12 million shares worth $883.2 million. 

Diamond Hill Capital made the following comment about Abbott Laboratories (NYSE:ABT) in its Q3 2022 investor letter:

“Also among our bottom contributors were health care products manufacturer Abbott Laboratories (NYSE:ABT), global pharmaceutical company Pfizer, media and technology giant Alphabet, and insurance company American International Group (AIG).

Abbott has been working through a recall of its infant formula brand Similac in the US, which has continued to pressure its share price. Although the recall will impact near-term revenues, we are not concerned about any long-term impacts. We remain optimistic about the company given it is one of the highest quality names in health care, in our view, with a talented management team that makes smart capital allocation decisions. Abbott also has leading health care and consumer franchises with a particularly strong competitive position in its medical device business. The company continues to launch innovative products in key strategic areas (such as diabetes, structural heart, and diagnostics), which should help drive not only revenue growth but margin expansion.”