Jim Cramer Says He “Was Discouraged to Get a Mixed Update from Abbott Labs”

Abbott Laboratories (NYSE:ABT) is one of the stocks that Jim Cramer shed light on. Commenting on the company’s recent earnings report results, Cramer said:

“Today, in an otherwise positive market, I was discouraged to get a mixed update from Abbott Labs, medical technology company that we’ve long owned for the Charitable Trust… I’d say two decades. When Abbott Labs reported this morning, the… results were perfectly solid. Management tightened their full-year earnings guidance rather than raising it while also taking down their organic sales growth forecast and their operating margin outlook.

A lot of investors, including me, have been hoping they’d raise these numbers, so the stock got clobbered down more than $11 or 8.5%. I thought it might’ve been down $15. That’s what I predicted. It didn’t get that low. As I’ve chronicled many times, this is a stock where we’ve really had to battle over the past several quarters. We’ve kept our faith for the Charitable Trust during some nasty litigation last year. The stock bounced back from that.”

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Abbott (NYSE:ABT) is a healthcare company engaged in the research, development, manufacture, and marketing of a wide range of medical products.

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Disclosure: None. This article is originally published at Insider Monkey.