Abbott (ABT) closed at $117.57 in the latest trading session, marking a +0.49% move from the prior day. The stock lagged the S&P 500's daily gain of 1.71%.Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had lost 8.23% over the past month. This has lagged the Medical sector's loss of 5.62% and the S&P 500's loss of 2.25% in that time.ABT will be looking to display strength as it nears its next earnings release, which is expected to be October 20, 2021. The company is expected to report EPS of $0.92, down 6.12% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $9.43 billion, up 6.52% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $4.42 per share and revenue of $39.88 billion, which would represent changes of +21.1% and +15.25%, respectively, from the prior year.Investors should also note any recent changes to analyst estimates for ABT. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.09% higher. ABT is currently sporting a Zacks Rank of #3 (Hold).Valuation is also important, so investors should note that ABT has a Forward P/E ratio of 26.48 right now. For comparison, its industry has an average Forward P/E of 25.2, which means ABT is trading at a premium to the group.We can also see that ABT currently has a PEG ratio of 2.23. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Medical - Products stocks are, on average, holding a PEG ratio of 2.1 based on yesterday's closing prices.The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 32% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Abbott Laboratories (ABT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research