The U.S. Department of Justice has closed its criminal investigation into Abbott Laboratories' Michigan baby formula plant, shifting focus to civil penalties for alleged manufacturing failures that contributed to a national shortage. The decision removes a major legal overhang for Abbott, though authorities will still pursue civil enforcement. Abbott's stock recently closed at $90.74, with year-to-date returns down 26.9% and a one-year decline of 32.0%. Analysts have an average target price of $116.54, and the stock is considered undervalued by some measures. Investors will now watch how Abbott addresses compliance and quality control at its facilities.
Abbott LaboratoriesDOJ ends criminal probe, removing major legal overhang for Abbott.