NEW YORK (TheStreet) -- Shares of Abbott Laboratories (ABT) - Get Report are dropping by 6.38% to $37.89 at the start of trading on Thursday, after the company reported its 2015 fourth quarter earnings results.
Before the market open today, the Abbott, IL-based company reported adjusted earnings from continuing operations of 62 cents per diluted share, which beat analysts' estimates by one cent.
Revenue for the quarter was $5.2 billion, which was in line with analysts' estimates of $5.22 billion.
Abbott is engaged in the discovery, development, manufacture and sale of a range of health care products.
"In 2015, we achieved top-tier sales and earnings growth despite a challenging currency environment," Chairman and CEO Miles D. White said in a statement. "Our underlying performance continues to be strong."
Additionally, the company's 2016 forecast predicts a significantly lower contribution from Venezuelan operations due to challenging market conditions in the country.
For the full year, the company issued guidance for adjusted earnings per share between $2.10 to $2.20.
Separately, TheStreet Ratings Team has a "buy" rating with a score of B- on the stock.
This is driven by a number of strengths, which should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks covered by the team.
The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins.
The team feels its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: ABT