Abbott Labs Stock Price, News & Analysis

Abbott has received FDA clearance for the first commercially available laboratory blood test for traumatic brain injury (TBI), which will run on its Alinity® i instrument. This test provides results in just 18 minutes, aiding clinicians in assessing concussions and potentially reducing the need for CT scans by up to 40%. Given the widespread use of Alinity i instruments across U.S. labs, this test is expected to enhance concussion evaluations for millions of patients annually. With reported sensitivities of 96.7% and negative predictive values of 99.4%, the test marks a significant advancement in TBI management.

On March 6, 2023, Abbott announced that the FDA has cleared its FreeStyle Libre 2 and FreeStyle Libre 3 integrated continuous glucose monitoring (iCGM) sensors for integration with automated insulin delivery (AID) systems in the U.S. This modification allows these sensors to connect with insulin pumps, enhancing diabetes management. The sensors are now approved for use by children as young as two and pregnant women with diabetes, extending wear time to 15 days. The FreeStyle Libre portfolio remains the top prescribed CGM in the U.S., impacting 4.5 million users globally. Abbott is collaborating with leading insulin pump manufacturers for future integrations.

Abbott (NYSE: ABT) released promising five-year data from the COAPT trial at the American College of Cardiology Scientific Sessions, confirming the long-term safety and effectiveness of MitraClip for secondary mitral regurgitation (MR) in heart failure patients. The study indicated a near 50% reduction in annual hospitalizations (33% vs. 57%) and a nearly 30% drop in mortality rates (57% vs. 67%) for those treated with MitraClip compared to standard therapy. Furthermore, 95% of participants experienced a significant improvement in MR severity, showcasing MitraClip's critical role in patient care.

Abbott (NYSE: ABT) announced promising findings for its TriClip™ system, designed for treating severe tricuspid regurgitation (TR). Presented at the American College of Cardiology Scientific Sessions, the TRILUMINATE Pivotal study demonstrated TriClip's superiority over medical therapy, achieving a win ratio of 1.48 (p=0.02) and significant quality of life improvements. In the study, 87% of patients experienced a reduction in TR grade at 30 days, compared to 4.8% in the control group. Additionally, the device exhibited a strong safety profile, with only 1.7% of patients facing major adverse events. These results mark a potential breakthrough in TR treatment options.

Abbott (NYSE: ABT) announced new data on its Navitor™ TAVI system and Amplatzer™ Amulet™ LAA Occluder presented at Cardiovascular Research Technologies (CRT) 2023. The Navitor TAVI system received FDA approval for severe aortic stenosis, showcasing a 97% procedural success rate and 0% moderate or greater paravalvular leaks. The Amulet LAA Occluder demonstrated superior closure capabilities compared to Boston Scientific's Watchman device, with fewer severe peri-device leaks. These findings emphasize Abbott's commitment to innovative, minimally invasive treatments for patients with complex heart conditions.

Abbott has launched a children's book titled What Does STEM Look Like? to inspire young readers to explore careers in science, technology, engineering, and math (STEM). Developed by Abbott’s Women in STEM employee network, the book follows Anna as she discovers potential STEM careers. This initiative aims to break stigmas around gender roles in STEM and address the anticipated shortage of over 1 million STEM workers in the U.S. by 2031. As part of Abbott's 2030 Sustainability Plan, the company seeks to engage over 100,000 youth in STEM programs, focusing on underrepresented groups.

Abbott (NYSE: ABT) has declared a quarterly common dividend of 51 cents per share, marking the 397th consecutive quarterly dividend since 1924. The dividend will be paid on May 15, 2023, to shareholders of record on April 14, 2023. Abbott boasts 51 consecutive years of dividend increases and is recognized as a member of the S&P 500 Dividend Aristocrats Index. These consistent dividends reflect the company's commitment to returning value to shareholders and its solid financial foundation.

Cardiovascular Systems, Inc. (NASDAQ: CSII) reported its second quarter financial results for fiscal 2023, ending December 31, 2022, with revenues reaching $61.5 million, up 3.9% year-over-year. The gross profit margin stood at 70.0%, although selling, general, and administrative expenses rose 3.1% to $41.6 million. Research and development expenses increased by 7.4%, totaling $9.5 million. CSI posted a net loss of $7.9 million ($0.20 per share), an improvement from the previous year's loss of $9.0 million. Adjusted EBITDA loss also increased to $3.7 million. The company had $132.0 million in cash and marketable securities with no long-term debt. Due to an upcoming acquisition by Abbott Laboratories (NYSE: ABT), CSI canceled its conference call on February 9, 2023.