Here’s Why You Should Consider Investing in Abbott Laboratories (ABT)

Richie Capital Group, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly portfolio net return of 4.8% was recorded by the RCG Long Only strategy for the fourth quarter of 2021, while the RCG Long Short Fund gained 5.6%. The fund’s benchmarks, the Russell 3000 Index, the Equity Long-Short Index, and the S&P 500 Large Cap Index returned 2.3%, -0.2%, and 10.7% respectively for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Richie Capital Group, in its Q4 2021 investor letter, mentioned Abbott Laboratories (NYSE: ABT) and discussed its stance on the firm. Abbott Laboratories is a Chicago, Illinois-based medical device company with a $213.3 billion market capitalization. ABT delivered a -14.05% return since the beginning of the year, while its 12-month returns are up by 4.28%. The stock closed at $120.97 per share on March 03, 2022.

Here is what Richie Capital Group has to say about Abbott Laboratories in its Q4 2021 investor letter: 

“Abbott Labs (ABT – up 20.08%) – Abbot Labs continues to benefit from resurging demand for Covid testing kits. The company is planning to increase their monthly production of BinaxNOW athome rapid tests to 100M a month, a 43% increase from current levels.”

national-cancer-institute–Ln-tYivJM4-unsplash

Our calculations show that Abbott Laboratories (NYSE: ABT) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. ABT was in 64 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 63 funds in the previous quarter. Abbott Laboratories (NYSE: ABT) delivered a -5.77% return in the past 3 months.

In December 2021, we also shared another hedge fund’s views on ABT in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

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