Welcome to our dedicated page for Abbott Laboratories news (Ticker: ABT), a resource for investors and traders seeking the latest updates and insights on Abbott Laboratories stock.
Abbott Laboratories (NYSE: ABT) is a globally recognized American multinational company headquartered in Abbott Park, Illinois. Founded in 1888, Abbott has established itself as a leader in medical devices and health care. The company manufactures and markets a wide range of products, including cardiovascular and diabetes devices, adult and pediatric nutritional products, diagnostic equipment, testing kits, and branded generic drugs.
Abbott's product portfolio includes pacemakers, implantable cardioverter defibrillators, neuromodulation devices, coronary stents, catheters, infant formula, nutritional liquids for adults, continuous glucose monitors, and immunoassays along with point-of-care diagnostic equipment. Approximately 60% of Abbott’s sales are derived from markets outside the United States, underlining its global reach and influence.
Recently, Abbott introduced the PROTALITY™ brand, a high-protein nutrition shake aimed at supporting weight loss while preserving muscle mass. This innovation reflects Abbott's commitment to addressing global health challenges such as obesity and muscle health. The company also continues to make strides in medical technology with advancements like the TriClip™ system for tricuspid valve repair, and the FreeStyle Libre continuous glucose monitoring systems, which have set new standards in diabetes management.
Abbott is not only focused on innovative product development but also on strategic partnerships and sustainability. The extension of their partnership with the Real Madrid Foundation, aimed at reducing childhood malnutrition and promoting healthy habits, is a testament to their commitment to global health improvements.
Financially, Abbott has demonstrated robust performance, as evidenced by its consistent dividend payouts and its inclusion in the S&P 500 Dividend Aristocrats Index. The company reported strong Q1 2024 results with significant growth in their core business segments, further supported by successful product launches and clinical innovations.
Abbott’s mission to help people live more fully at all stages of life drives their development of life-changing technologies across diagnostics, medical devices, nutritionals, and branded generic medicines. With a workforce of over 114,000 employees serving people in over 160 countries, Abbott continues to set benchmarks in the healthcare industry.
Abbott's recent Harris Poll survey reveals that 93% of U.S. adults exercising intensely recognize hydration's importance during workouts. However, 46% wrongly believe energy drinks help rehydrate after exercise, contradicting scientific advice. Dehydration occurs when fluid loss exceeds intake, affecting performance and recovery. Abbott promotes its Pedialyte Sport as an optimal rehydration solution with three times the electrolytes and less sugar than leading sports drinks. The survey included 2,047 adults, with 799 participating in intense exercise at least thrice weekly.
Abbott's internship program enables high school students to earn college credit for STEM internships, a first endorsed by the American Council on Education. Over nearly a decade, the program has supported diverse students, with 60% coming from underrepresented backgrounds. This initiative is part of Abbott's 2030 Sustainability Plan, aiming to provide STEM opportunities to 100,000 young people, including women and underrepresented groups. The program aims to inspire more students to pursue STEM careers and has already fostered a talent pipeline for Abbott's workforce.
Abbott's board of directors declared a quarterly dividend of 45 cents per share, marking the 390th consecutive quarterly dividend since 1924. This dividend is payable on August 16, 2021, to shareholders on record as of the close of business on July 15, 2021. Abbott has a strong track record, having increased its dividend payout for 49 consecutive years and is recognized as a member of the S&P 500 Dividend Aristocrats Index.
Abbott announced its readiness to meet the increasing demand for mechanical circulatory support (MCS) devices, particularly after Medtronic's discontinuation of the HeartWare™ ventricular assist device. Abbott's HeartMate 3 heart pump is now available for patients with advanced heart failure, including those awaiting transplants. The device boasts a mortality benefit with 87% survival at one year. Abbott is enhancing support and education for physicians adopting HeartMate 3, which has assisted nearly 18,000 patients globally and can significantly improve quality of life.
Abbott (NYSE: ABT) revised its 2021 financial outlook due to reduced COVID-19 testing demand, reflecting a shift towards normalization as cases decline and vaccination efforts accelerate. The revised guidance projects 2021 GAAP diluted EPS between $2.75 and $2.95, with adjusted diluted EPS expected to be between $4.30 and $4.50, demonstrating double-digit growth from the previous year. Despite the downturn in COVID-19 testing, Abbott's core business shows strong growth, supported by recent product launches. Financial adjustments include specified items of $1.55 per share for restructuring and alignment with current market demands.
Abbott (NYSE: ABT) has received CE Mark approval for its Navitor™ transcatheter aortic valve implantation (TAVI) system, designed for patients with severe aortic stenosis at high or extreme surgical risk. The Navitor valve incorporates innovative features, including a unique fabric cuff to prevent blood leakage and compatibility with the FlexNav™ delivery system, enhancing procedural efficacy. This advancement comes at a critical time as aortic stenosis cases are expected to rise significantly in Europe and the U.S. over the coming decades, necessitating less invasive treatment options.
Abbott (NYSE: ABT) has launched a groundbreaking trial called TAP-CHF, aimed at improving treatment for patients with both atrial fibrillation (AFib) and heart failure. This trial addresses the challenges of managing these coexisting conditions, which can lead to increased risk of stroke and hospitalization. By enrolling up to 100 patients across 10 sites, the trial will evaluate the effectiveness of novel monitoring techniques and treatment strategies. Abbott seeks to enhance patient outcomes through innovative therapies, aiming to provide critical insights into the management of complex cardiovascular diseases.
Abbott reported strong first-quarter 2021 financial results, with sales of $10.5 billion, reflecting a 35.3% increase year-on-year. GAAP diluted EPS was $1.00, while adjusted diluted EPS grew 103.1% to $1.32. The company anticipates full-year diluted EPS of at least $3.74, maintaining a forecast for adjusted EPS of at least $5.00. COVID-19 testing contributed $2.2 billion to sales, and recent product launches are driving growth. Abbott declared its 389th consecutive quarterly dividend, highlighting its consistent dividend growth.
Abbott (NYSE: ABT) has initiated shipments of its BinaxNOW™ COVID-19 Ag Self Test to retailers nationwide, with availability expected soon at CVS, Walgreens, and Walmart. This over-the-counter test, priced at $23.99 for a two-count pack, aims to provide affordable, accessible testing. Abbott plans to produce tens of millions of tests monthly and can adapt distribution based on regional virus surges. The BinaxNOW Self Test is designed for both symptomatic and asymptomatic individuals and has received FDA Emergency Use Authorization for home testing.
Abbott (NYSE: ABT) partners with marathon runner Eliud Kipchoge and the NN Running Team to enhance athletic training using Abbott's Libre Sense Glucose Sport Biosensor. The biosensor, which monitors glucose levels in real-time, will be utilized in the NN Mission Marathon on April 18, 2021, a qualifying race for the Olympics. Kipchoge emphasizes its potential to improve performance through personalized nutrition insights. CE Marked since September 2020, the biosensor aims to make glucose monitoring commonplace among athletes, promoting optimal training and competitive advantage.
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