NEW YORK (TheStreet) -- Abbot Laboratories (ABT) posted mixed results in their 2014 first quarter earnings report released on Wednesday.
Excluding special charges, the healthcare product manufacturer posted a net income of $375 million, or 41 cents per share, for the quarter ending March 31. That beat analysts consensus EPS estimates of 36 cents per share.
However, year over year quarterly revenue fell 2.6% to $5.24 billion from $5.38 billion missing analysts estimates of $5.29 billion.
The company also reaffirmed its guidance range of $2.16 to $2.26 EPS for fiscal year 2014.
TheStreet Ratings team rates ABBOTT LABORATORIES as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate ABBOTT LABORATORIES (ABT) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and relatively poor performance when compared with the S&P 500 during the past year."