Is Abbott Labs (ABT) Still a Great Long-Term Pick?

Saturna Capital, an investment management firm, published its “Sextant Funds” third-quarter 2021 investor letter – a copy of which can be downloaded here. The Investor Shares of the Sextant Growth Fund experienced an unremarkable third quarter, slipping -0.34%, compared to the S&P 500 Index gain of 0.58% and the NASDAQ Composite’s -0.22% return. The Sextant International Fund Investor Shares appreciated 4.29% in the third quarter of 2021, compared to a decline of -0.35% for the benchmark MSCI EAFE Index over the same period. The Sextant Global High Income Fund returned 0.09% for the third quarter of 2021, ending the period at $9.2 million in total net assets, with 15.75% in cash and equivalents. The Sextant Core Fund declined -1.27% in the third quarter, trailing the benchmark Dow Jones Moderate Portfolio Index, which declined -0.83% for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Saturna Capital Sextant Funds, in its Q3 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 $234.1 billion market capitalization. ABT delivered a 20.94% return since the beginning of the year, while its 12-month returns are up by 23.99%. The stock closed at $132.42 per share on December 07, 2021.

Here is what Saturna Capital Sextant Funds has to say about Abbott Laboratories  in its Q3 2021 investor letter:

“Last quarter, Abbott Labs was among the top detractors as it sharply cut guidance on the expectation of fewer COVID-19 test kit sales. That conclusion turned out to be premature and was, in any event, short-term in nature.”

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Based on our calculations, Abbott Laboratories (NYSE: ABT) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. ABT was in 63 hedge fund portfolios at the end of the third quarter of 2021, compared to 61 funds in the previous quarter. Abbott Laboratories (NYSE: ABT) delivered a 3.14% return in the past 3 months.

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