Abbott Laboratories' Diagnostics business is increasingly relying on its Cancer Diagnostics arm as respiratory testing volumes remain weak. In the second quarter of 2026, Rapid and Molecular Diagnostics sales fell 8% on a comparable basis due to a weaker-than-normal respiratory season, while Cancer Diagnostics sales grew 13%, driven by mid-teens growth in Cologuard. Peer QuidelOrtho reported respiratory products accounted for 9% of total revenues in the first half of 2026, down from 13% a year earlier, and Danaher's Diagnostics segment core revenues declined 4% in the first quarter of 2026. Abbott shares have fallen 11.6% over the past year, and the stock trades at a forward 12-month price-to-sales ratio of 3.81 times versus the industry median of 2.81 times.
Abbott LaboratoriesRespiratory testing volumes weak, Rapid and Molecular Diagnostics sales fell 8%.
Danaher CorporationDiagnostics segment core revenues declined 4% in Q1 2026.
Quidel CorporationRespiratory products accounted for 9% of revenues, down from 13%.
