In short: Stock +11% after strong results ended many lackluster quarters — revenue +13% YoY to $12.6B (beat ~$12.54B) across medical devices, diagnostics, established pharma and nutrition. (The report's "AVT" is Abbott, not Avnet.)
Abbott (medical devices, diagnostics, pharma and nutrition) jumped 11% after finally posting strong results — revenue up 13% to $12.6 billion, ahead of estimates — following several disappointing quarters. (The report calls it "AVT," but the numbers are Abbott's, not Avnet's.)
Full passage: premium transcript (PDF).
In short: The other peer that took MDT's share through the 2021–24 drift — now the multiple comp at 22× forward earnings (the 20× ladder rung "approaches the multiple that peers Abbott and Boston Scientific command").
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