Abbott Labs Stock Price, News & Analysis

Surmodics, Inc. (NASDAQ:SRDX) announced that findings from the TRANSCEND clinical trial will be shared at the Vascular InterVentional Advances (VIVA) conference on November 1, 2022. Dr. Kenneth Rosenfield will present 24-month data on the efficacy and safety of the SurVeil drug-coated balloon (DCB) compared to IN.PACT Admiral DCB. Initial results at 12 months indicated non-inferiority for SurVeil with a lower drug dose. Surmodics has an agreement with Abbott (NYSE: ABT) for commercialization rights.

Abbott's third-quarter sales reached $10.4 billion with a 4.7% decline on a reported basis but a 1.3% increase organically. GAAP EPS was $0.81, while adjusted EPS surged to $1.15. Abbott raised its full-year 2022 EPS guidance to $3.75-$3.81 (GAAP) and $5.17-$5.23 (adjusted). Strong growth was noted in U.S. Medical Devices, particularly in Electrophysiology, Structural Heart, and Diabetes Care. The launch of FreeStyle Libre 3 boosted sales, despite declines in Nutrition and Diagnostics due to past manufacturing issues and diminished COVID-19 testing revenue.

Abbott (NYSE: ABT) has partnered with The Home Edit to redesign medicine cabinets in preparation for the flu and virus season, which is impacted by COVID-19. The initiative focuses on organizing health essentials like the BinaxNOW COVID-19 Antigen Self Test, enhancing family preparedness. With over a billion BinaxNOW tests produced, Abbott emphasizes the importance of at-home testing for quick results. The Home Edit offers organizational tips to help families maintain essential items efficiently and visually appeal to their health space.

A recent study published in The New England Journal of Medicine demonstrates that Abbott's FreeStyle Libre 2 glucose monitoring system significantly lowers glycated hemoglobin (HbA1c) levels in adults with Type 1 diabetes compared to self-monitoring of blood glucose (SMBG). At the end of the 24-week study, FreeStyle Libre users exhibited a 0.5% reduction in HbA1c, while SMBG users only saw a 0.2% decrease. The study also noted improvements in quality of life and greater treatment satisfaction among FreeStyle Libre users.

Abbott will announce its third-quarter 2022 financial results on October 19, 2022, prior to market opening. The earnings conference call will take place at 8 a.m. Central time and will be accessible via Abbott's Investor Relations website. Abbott operates globally, providing technologies in diagnostics, medical devices, nutritionals, and branded generic medicines, serving over 160 countries with a workforce of 113,000 colleagues.

Abbott (NYSE: ABT) announced significant findings from five late-breaking presentations at the TCT 2022, showcasing its minimally invasive structural heart devices. Key highlights include the MitraClip's efficacy in treating mitral regurgitation, achieving a 91% success rate in MR reduction with low adverse event rates. The TriClip also showed promising results with a 99% implant success rate. Additionally, the Amulet LAA Occluder demonstrated better stroke reduction compared to competing devices. These advancements reinforce Abbott's leadership in innovative cardiac treatments.

Abbott's board of directors has declared a quarterly dividend of 47 cents per share, marking the 395th consecutive quarterly dividend since 1924. This cash dividend is set to be paid on Nov. 15, 2022, to shareholders of record by the close of business on Oct. 14, 2022. Abbott has a strong track record, having increased its dividend payout for 50 consecutive years, qualifying it as a member of the S&P 500 Dividend Aristocrats Index. The company, a global leader in healthcare, operates across various sectors, enhancing lives in over 160 countries.

Abbott recently presented three-year data on the Amplatzer Piccolo Occluder at the Pediatric and Congenital Interventional Cardiovascular Society Symposium. This device, designed for treating patent ductus arteriosus (PDA) in newborns, exhibits a 95.5% survival rate with no procedure-related deaths and a 2% serious adverse event rate. The minimally invasive procedure reduces the need for riskier surgeries, effectively closing PDA in almost all patients. A PDA affects roughly 1 in 2,000 births, emphasizing the significance of this innovation for vulnerable infants.