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ABT

Abbott Laboratories New York Stock Exchange
$113.25
Open: $112.95 High: $113.54 Low: $110.26 Close: $112.85
Range: 2021-01-21 - 2021-01-22
Volume: 8,131,464
Market: Closed
Powered by Finage Stock APIDelayed data
ABT
Abbott Laboratories 100 Abbott Park Road Abbott Park IL, 60064-6400 http://www.abbott.com
Abbott Laboratories is a health care company that manufactures medical devices, blood glucose monitoring kits, nutritional healthcare products, diagnostic products and equipment, and branded generic drugs.
  • CEO: Miles D. White
  • Employees: 99,000
  • Sector: Healthcare
  • Industry: Medical Devices
ABT News
Latest news about the ABT
  • Shipping Costs Are Spiking. What That Means for Inflation.

    Containerized shipping has driven up transport costs since pandemic populations shifted to goods from services. These costs will add to retail prices, but are unlikely to ignite inflation. The answer: an end to the pandemic.

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  • Abbott's Coronavirus Tests Put It Near A Record High — But Is ABT Stock A Buy?

    Medical company Abbott has now launched a handful of coronavirus tests, and the U.S. is paying $750 million for 150 million of one of its recently approved tests. So, is ABT stock a buy now?

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  • Demand for COVID-19 Tests to Drive Abbott (ABT) Q4 Earnings

    Within EPD, Abbott (ABT) is expected to have witnessed visible signs of rebound through Q4.

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  • Abbott Receives Expanded Medicare Reimbursement for First-Of-Its-Kind MitraClip™ Device

    Abbott (NYSE: ABT) today announced that the U.S. Centers for Medicare & Medicaid Services (CMS) revised its National Coverage Determination (NCD) to expand coverage for transcatheter edge-to-edge repair (TEER), also referred to as transcatheter mitral valve repair (TMVr), to include patients with secondary (or functional) mitral regurgitation (MR) resulting from heart failure. The decision significantly increases the number of people eligible for insurance coverage for mitral valve repair with MitraClip, enabling broader access to the device. As the first and only TEER device approved by the U.S. Food and Drug Administration (FDA) and reimbursed by Medicare for primary mitral regurgitation, physicians have increasingly relied on the therapy to improve survival and quality of life for their patients. Today's decision improves insurance coverage for people with secondary MR who need treatment with MitraClip.

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  • The Zacks Analyst Blog Highlights: Quest Diagnostics, Abbott, Becton, Dickinson and Co, Quidel and Hologic

    The Zacks Analyst Blog Highlights: Quest Diagnostics, Abbott, Becton, Dickinson and Co, Quidel and Hologic

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  • Abbott's COVID-19 antigen test may help with faster detection, isolation - CDC

    Abbott Laboratories' rapid COVID-19 antigen test is highly likely to correctly detect if people have ever contracted the virus and could help with earlier isolation, according to the U.S. Centers for Disease Control and Prevention. The test was less sensitive in detecting asymptomatic infection, but the CDC study found that the faster turnaround time can help limit transmission by more rapidly identifying infectious persons for isolation. Several rapid antigen tests have been approved by the U.S. Food and Drug Administration for emergency use, but data lacks on test performance in asymptomatic people, according to a team of scientists from CDC's COVID-19 Response Team and the Arizona Department of Health Services.

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  • Healthcare Stocks Appear Set to Move Higher

    Nearby levels of support and recent closes beyond key resistance are creating lucrative risk/reward setups in the healthcare sector.

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  • Brain, Spine Stimulation Devices Are a Post-Pandemic Winner, Says Raymond James

    The equipment, made by companies such as Medtronic and Abbott Laboratories, offers an alternative to drugs for pain relief.

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  • Abbott vs Dexcom: Which “Strong Buy” Stock Could Deliver Higher Returns in 2021?

    With multiple COVID-19 vaccines being distributed across the world, companies focused on other medical conditions are now grabbing the Street's attention. One such disorder is diabetes, which is growing rapidly worldwide—sedentary lifestyles being a key reason for that. A recent report by the World Health Organization (WHO) revealed that deaths from diabetes surged 70% globally between 2019 and 2020. Abbott and Dexcom are some of the names that are developing diabetes monitoring systems. Using the TipRanks Stock Comparison tool, we will place Abbott and Dexcom alongside each other and pick the stock reflecting a more compelling play. Abbott Laboratories (ABT) Abbott has a diversified business that includes four segments: Medical Devices, Diagnostics, Nutrition and Established Pharmaceutical Products (which generates revenue from the sale of branded generic pharmaceutical products outside of the US). Since the pandemic's onset, Abbott has been in the news for the multiple COVID-19 tests developed by the company. Most recently, BinaxNOW COVID-19 Ag Test Card was granted the FDA’s emergency use authorization for virtually guided at-home use. Coming to diabetes, Abbott sees tremendous growth in the area, especially through its FreeStyle Libre technology, which is a sensor-based continuous glucose monitoring system. Sales of FreeStyle Libre systems grew 37.9% in 3Q 2020. Moreover, in 3Q 2020, the company’s FreeStyle Libre 3 system secured CE Mark for use by diabetic patients in Europe. The FreeStyle Libre 3 provides real-time glucose readings automatically delivered to the user’s smartphone every minute, offering unsurpassed 14-day accuracy and real-time glucose alarms. The company also won CE Mark for its Libre Sense Glucose Sport Biosensor, which helps athletes “better understand the efficacy of their nutritional choices on training and athletic performance.” Furthermore, Abbott’s FreeStyle Libre 2 received approval in December 2020 by Health Canada for adults and children (4 and older) with diabetes. (See ABT stock analysis on TipRanks) Last month, Raymond James analyst Jayson Bedford reiterated a Buy rating for Abbott following a call with the company’s management. Bedford stated that the company is working through the reimbursement channels in Europe and expects to launch Libre 3 in the “coming months,” while the analyst had anticipated a December launch. Bedford also specified that management did not lay out a timeline for Libre 3 roll out in the US, but he estimates the launch could happen in 2021. The analyst also noted that the app for the Libre 2 system has not yet been approved, but management is optimistic about the submission. Commenting on the prospects of the COVID-19 testing portfolio, Abbott’s management anticipates the testing market to remain strong into mid-2021 and then start to decline in the second half of this year. To back his bullish stance on Abbott, the analyst concluded, “The 'third wave' of CV-19 has raised the near-term uncertainty level (for the group), but ABT remains well positioned given its diversified portfolio, and the CV-19 testing tailwind, which lessens the near-term risk profile. Management is executing well, and enters 2021 with momentum.” Overall, consensus among analysts is a Strong Buy based on 8 Buys versus 2 Holds. Abbott shares have risen 25.1% over the past year and the average price target of $120.57 suggests upside potential of 8.3% in the months ahead. Dexcom (DXCM) Diabetes is growing rapidly and so is the need for continuous glucose monitoring (CGM) systems, which Dexcom specializes in. The company's G6 CGM system is FDA-permitted for use by people with Type 1 and Type 2 diabetes. Last week, the company announced better-than-anticipated preliminary results for 4Q 2020, which calls for revenue to meet or exceed $567 million. This implies year-over-year growth of 23%, with U.S. revenue expected to rise about 20% to $451 million and international revenue to grow about 33% to $116 million. (See DXCM stock analysis on TipRanks) Overall, the company expects to meet or exceed revenue of $1.925 billion in 2020, reflecting a gain of over 30%. As for the initial 2021 outlook, Dexcom calls for top-line growth in the range of 15%-20%. The company’s outlook is based on an increase in its sensor volumes, driven by the growing CGM awareness for people with Type 1 and Type 2 diabetes, continued expansion beyond the US, shifting channel mix and overall market dynamics. Covering Dexcom for Oppenheimer, analyst Steven Lichtman notes that the company’s international business was the primary driver of the revenue beat, owing to new initiatives including direct-to-consumer and e-commerce channel. Indeed, Dexcom is pursuing international growth and has extended its G6 CGM offering to additional markets, including the rollout in Belgium and Turkey in 4Q 2020. Commenting on the 2021 outlook, Lichtman noted that the company has maintained a conservative stance when it comes to its guidance in the past two years. The analyst assumes that the impact of competition from Abbott's Libre franchise is factored into the forecast. He believes that growth drivers for 2021 include “big new opportunities in T2 [Type 2 diabetes] and international expansion along with the G7 launch.” On the 3Q earnings call, Dexcom stated that it expects to launch G7 in several key markets in the second half of 2021, and then expand its reach into all of its core markets in 2022. Overall, Lichtman continues to be bullish on Dexcom and maintained a Buy rating with a $445 price target. Currently, Dexcom scores a Strong Buy analyst consensus based on 9 Buys and 2 Holds. The average price target stands at $456.11, indicating upside potential of 28.8% from current levels. Shares have already risen 53.5% over the past 52 weeks. Bottom line Abbott’s diversified business model and exposure to major growth areas like diabetes are its key strengths. Dexcom is completely focused on meeting the growing need for its CGM systems in the domestic as well as international markets. While the Street is bullish on both companies, right now, the average price target indicates a higher upside potential for Dexcom stock. To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment

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  • Best Healthcare Stocks to Buy for 2021

    Real Money contributor Stephen Guilfoyle checks which sector names could perform best over the coming year.

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  • The Zacks Analyst Blog Highlights: Abbott Lab, QIAGEN, Quidel, Hologic and Quest Diagnostics

    The Zacks Analyst Blog Highlights: Abbott Lab, QIAGEN, Quidel, Hologic and Quest Diagnostics

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  • Abbott to Launch the NeuroSphere™ myPath™ Digital Health App Designed to Track and Report Pain Relief in Chronic Pain Patients With Physicians Prior to Device Implant

    Abbott (NYSE: ABT) today announced the upcoming launch of NeuroSphere™ myPath™, a digital health app designed to track and report on patient perceived pain relief and general well-being associated with spinal cord stimulation (SCS) or dorsal root ganglion (DRG) therapy. During the device trial period required before the permanent implant, the app allows patients to record their outcomes on pain and well-being while trialing their neurostimulation therapy.

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  • LabCorp CEO on new testing: 'Pixel for covid is the beginning, but our future is other tests'

    Yahoo Finance's Anjalee Khemlani sat down with LabCorp CEO Adam Schechter to discuss the latest with the company, it's transition to coronavirus testing, and what to expect from their latest products.

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  • Testing Space in Focus Again Thanks to New Wave of Coronavirus

    The resurgence in coronavirus infections is drawing attention back to the diagnostic testing space.

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  • 3 Dividend Aristocrats to Buy Right Now

    Investors want to be able to count on dividend payments that are like clockwork. It's even better when that consistency isn't just related to paying dividends but also includes dividend increases. Dividend Aristocrats include only S&P 500 members that have boosted their dividends for at least 25 consecutive years.

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  • Abbott (ABT) to Expand in Booming TBI Space on New Approval

    If positive, Abbott's (ABT) TBI blood test result complements CT scans to help evaluate whether a suspected patient has a TBI.

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  • Abbott Announces Fulfillment of Federal Government Purchase of 150 Million BinaxNOW™ COVID-19 Rapid Tests and Is Now Ready to Support Commercial Distribution

    Abbott (NYSE: ABT) is announcing today the fulfillment of the federal government's order of 150 million BinaxNOW™ COVID-19 Ag tests. These rapid tests were distributed through the Department of Health and Human Services (HHS) to states, territories and targeted entities, such as nursing homes, assisted living facilities, home health and hospice agencies, historically black colleges and universities (HBCUs), and the Indian Health Service.

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  • Abbott Receives FDA 510(k) Clearance for the First Rapid Handheld Blood Test for Concussions

    Abbott (NYSE: ABT) has received 510(k) clearance for the first rapid handheld traumatic brain injury (TBI) blood test, which will help clinicians assess individuals with suspected mild TBIs, including concussions. The test will run on Abbott's handheld i-STAT™ Alinity™ platform. Tests results are available within 15 minutes after plasma is placed in the test cartridge.

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  • Abbott Laboratories (NYSE:ABT) Could Be A Buy For Its Upcoming Dividend

    Abbott Laboratories ( NYSE:ABT ) stock is about to trade ex-dividend in 4 days. This means that investors who purchase...

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  • Why The Covid Pandemic Will Be A Boon For These Health Care Stocks

    The coronavirus pandemic will continue to captivate the world in 2021. But it could also provide a boon for some health care stocks working in telemedicine, remote monitoring and testing.

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