Will Demand for Rapid COVID-19 Tests Help Abbott Laboratories Beat the Market in 2022?
If you've walked around your local pharmacy recently, you know that at-home coronavirus testing kits are hard to come by. In particular, Abbott Laboratories (NYSE: ABT) makes BinaxNOW kits, which are the most popular rapid coronavirus antigen diagnostic test in the U.S.
But despite strong sales throughout the pandemic, rapid testing has been a somewhat fickle driver of growth for shareholders. Though Abbott's total return has grown by more than 54% since January of 2020 in comparison to the market's growth of around 49%, its performance in the last 12 months has lagged the market. Are things different this time as a result of the omicron variant wave, or is Abbott on track to disappoint?
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Source Fool.com
