Topic: How To Invest

Power Growth Investor Hotline – Friday, September 10, 2021

Article Excerpt

ABBVIE INC., $106.68, is a buy. The company (symbol ABBV on New York) makes medical devices, diagnostic tests, pediatric and adult nutritional products, and generic drugs. AbbVie took its current form on January 3, 2013, when Abbott Laboratories (New York symbol ABT) split into two publicly traded firms. In the three months ended June 30, 2021, revenue rose 33.9%, to $13.96 billion from $10.43 billion a year earlier. On a comparable operational basis, revenue during the quarter increased by 19.3%. Humira accounted for 36% of revenue during the quarter. Humira’s revenue increased by 4.8% over last year. Excluding one-time items, AbbVie’s earnings jumped 42.6%, to $5.56 billion from $3.90 billion. Per-share earnings rose 32.9%, to $3.11 from $2.34, on more shares outstanding. AbbVie fuels its growth with acquisitions—including the massive $63 billion purchase in May 2020 of Allergan; it’s a global leader in medical aesthetics, women’s health, and eye care. Allergan is best known for Botox. In the second quarter, Botox’s sales were $603…