¿Está Abbott Laboratories (ABT) subvaluada en medio de un cambio estratégico hacia el uso de la inteligencia artificial en el cuidado de pacientes con diabetes?

Abbott Laboratories (ABT) has long been a cornerstone of the medical devices and diagnostics industry, but its recent foray into AI-driven diabetes care with the launch of Libre Assist has sparked renewed debate about its valuation and long-term growth potential. As the company transitions its FreeStyle Libre ecosystem from a hardware-centric model to a software-driven platform, investors are scrutinizing whether this strategic shift justifies a re-rating of its stock. With a market capitalization of $216.27 billion and a price-to-earnings (P/E) ratio of 17.46 as of early 2026, ABT appears to trade at a discount relative to its historical multiples. However, the question remains: Is this undervaluation a reflection of near-term risks, or does it signal an opportunity to capitalize on a transformative innovation in diabetes management?

The AI-Driven Evolution of FreeStyle Libre

Abbott's FreeStyle Libre system has already revolutionized continuous glucose monitoring (CGM), with 7 million users globally and $6.8 billion in Diabetes Care revenue in 2024. The introduction of Libre Assist in January 2026 marks a pivotal step in this evolution. By integrating AI into its Libre app, Abbott enables users to predict glucose fluctuations based on food photos or descriptions, combining real-time sensor data with predictive analytics. This shift from passive monitoring to proactive, personalized management positions Abbott to capture a larger share of the diabetes care market, which is projected to grow at a 13% compound annual rate in the glucometer segment alone.

The strategic implications are profound. Unlike traditional CGM competitors such as Dexcom and Medtronic, Abbott is leveraging AI to create a closed-loop ecosystem where hardware, software, and user engagement are tightly integrated. This not only enhances patient adherence but also strengthens pricing power by differentiating the Libre ecosystem from commoditized alternatives. Analysts at Evercore ISI argue that Libre Assist could drive incremental revenue streams through app-based services and data monetization, potentially boosting Abbott's Diabetes Care segment to $10 billion in annual sales by 2028.

Market Dynamics and Competitive Positioning

The CGM market is fiercely competitive, with Dexcom and Medtronic dominating key segments. However, Abbott's first-mover advantage in affordability and ease of use has allowed it to capture a 40% market share in the glucometer space. The integration of AI into Libre Assist further cements this position by addressing a critical unmet need: predictive glucose management. According to a report by Cognitivemarketresearch, the global CGM market is expected to expand at an 8% CAGR through 2033, driven by rising diabetes prevalence and technological advancements. Abbott's dual analyte sensor, which will monitor both glucose and ketones, is another differentiator that could solidify its leadership.

Yet, challenges persist. Pricing pressures in the U.S. Medicare reimbursement landscape and competitive bidding in international markets remain headwinds. Additionally, China's volume-based procurement policies and foreign exchange volatility could erode margins in the short term. These risks underscore the importance of Abbott's Q4 2025 earnings release on January 22, 2026, which will provide critical insights into how the company balances innovation with profitability.

Valuation Metrics and Analyst Outlooks

From a valuation perspective, Abbott appears attractively priced relative to its peers. Its P/E ratio of 17.46 is significantly lower than the 22.5 average for the S&P 500 healthcare sector, while its price-to-sales (P/S) ratio of 5.58 suggests undervaluation given its robust revenue growth trajectory. Analysts project $53.3 billion in revenue and $9.4 billion in earnings by 2028, translating to a fair value of $144.43 per share-a 14% upside from its January 2026 price. Evercore ISI has set a $144 price target, implying a 16.16% increase, while broader market comparisons with Medtronic and Johnson & Johnson highlight Abbott's superior operating margin of 19% and cash generation of $6.3 billion annually.

However, the valuation debate hinges on near-term execution risks. While Libre Assist enhances user engagement, its direct financial impact is expected to be modest in the short term. Investors must weigh this against the company's exposure to pricing pressures in diagnostics and CGM markets, as well as reputational risks from past quality control issues.

Conclusion: A Calculated Bet on Innovation

Abbott's strategic integration of AI into diabetes care represents a bold repositioning of its FreeStyle Libre ecosystem. By transforming passive monitoring into an active, predictive tool, the company is not only addressing a critical gap in patient management but also fortifying its competitive moat. While near-term risks such as pricing pressures and regulatory headwinds cannot be ignored, the long-term growth trajectory-bolstered by a $10 billion Diabetes Care target and a 13% CAGR in the glucometer market-suggests that ABT is undervalued relative to its innovation potential.

For investors, the key lies in timing. The upcoming Q4 2025 earnings report will be a litmus test for Abbott's ability to balance AI-driven growth with margin preservation. If the company can demonstrate that Libre Assist enhances user retention and opens new revenue streams, the current valuation discount may prove to be a compelling entry point. As the healthcare industry increasingly embraces AI, Abbott's strategic pivot could redefine its role in diabetes care-and its stock price.