Abbott's (NYSE: ABT) diversified business portfolio is well-positioned to drive continued momentum in 2024. However, a challenging macroeconomic environment continues to dent Abbott's business globally. The stock carries a Zacks Rank #3 (Hold) currently. Abbott continues to expand its Diagnostics business foothold (consisting of 22.2% of the total revenues in the first quarter of 2024). Over the past few quarters, the company has witnessed increased demand for routine diagnostics, particularly in the United States and internationally. The company is particularly gaining from the strong adoption of its market-leading systems and demand for testing that takes place in a variety of settings, including hospitals, laboratories, urgent care centers, physician offices, retail pharmacies and blood screening facilities. On a global scale, Abbott currently holds a prominent position in point-of-care testing, with a portfolio focused on four key areas — Infectious Disease, Cardiometabolic & Informatics, Toxicology and Consumer Diagnostics. As a major development within this arm, in April, the company received FDA approval for i-STAT TBI, the company's point-of-care diagnostic test that could help determine if someone has suffered a mild traumatic brain injury or concussion in 15 minutes. Within Abbott's Established Pharmaceuticals Division business, banking on the successful execution of its Branded Generic operating model, EPD is well positioned for sustained growth in many of these growing pharmaceutical markets. According to Abbott, its unique branded generics model was built to focus specifically on key emerging countries where long-term growth in medicines is ...