Abbott (ABT) closed at $118.51 in the latest trading session, marking a +0.83% move from the prior day. This move outpaced the S&P 500's daily gain of 0.07%.In that report, analysts expect ABT to post earnings of $1.23 per share. This would mark year-over-year growth of 115.79%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.45 billion, up 42.63% from the year-ago period.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.05 per share and revenue of $41.85 billion. These totals would mark changes of +38.36% and +20.94%, respectively, from last year.Any recent changes to analyst estimates for ABT should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.44% lower. ABT currently has a Zacks Rank of #3 (Hold).In terms of valuation, ABT is currently trading at a Forward P/E ratio of 23.29. This valuation marks a discount compared to its industry's average Forward P/E of 30.59.Investors should also note that ABT has a PEG ratio of 1.69 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ABT's industry had an average PEG ratio of 2.53 as of yesterday's close.The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 21% 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.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