Abbott Labs Stock Price, News & Analysis

Abbott (NYSE: ABT) will participate in the 41st Annual J.P. Morgan Healthcare Conference on January 10, 2023, at 11 a.m. Central time. The presentation will be led by Robert B. Ford, chairman and CEO. A live webcast will be available on Abbott's Investor Relations website, with an archived version accessible later the same day. Abbott is a leading global healthcare company committed to enhancing lives through its diverse portfolio, impacting over 160 countries with approximately 113,000 employees.

Abbott has received FDA approval for its Eterna spinal cord stimulation (SCS) system, designed to treat chronic pain. This device is the smallest rechargeable spinal cord stimulator on the market, requiring as few as five recharges annually, significantly optimizing patient comfort. Eterna employs Abbott's BurstDR stimulation technology, which has been clinically proven to alleviate pain more effectively than traditional methods. With over 50 million Americans affected by chronic pain, Abbott aims to enhance healthcare delivery and improve patient outcomes through innovative solutions.

Abbott (NYSE: ABT) and the Brain Injury Association of America have co-founded Concussion Awareness Now, a coalition of nearly 20 advocacy groups aimed at increasing awareness about concussions. The initiative emphasizes the importance of diagnosis and treatment, with over half of individuals suspecting a concussion neglecting to seek care. Actress Rebel Wilson, who recently experienced a concussion, shares her story to support the cause. The coalition aims to change societal perceptions surrounding concussions and encourage proper medical attention.

Abbott (NYSE: ABT) announced an 8.5% increase in its quarterly dividend, raising it to 51 cents per share. This marks the company’s 51st consecutive year of dividend growth and the 396th consecutive quarterly dividend, to be paid on Feb. 15, 2023, to shareholders of record by Jan. 13, 2023. Abbott is recognized in the S&P 500 Dividend Aristocrats Index for consistent annual dividend increases over at least 25 years, reflecting its commitment to sustainable growth and shareholder returns.

Abbott (NYSE: ABT) has won three CES 2023 Innovation Awards from the Consumer Technology Association for its innovative health technologies. The awarded products include the Aveir VR Leadless Pacemaker, the Proclaim Plus SCS System, and the Alinity m Monkeypox PCR test. Abbott's achievements continue as the company was previously recognized for its FreeStyle Libre technology, named the best medical technology of the last 50 years by the Galien Foundation. This recognition underscores Abbott's commitment to advancing healthcare solutions globally.

Surmodics announced positive results from the 24-month follow-up of its TRANSCEND clinical trial at the VIVA conference in Las Vegas. The study involved 446 patients and compared the SurVeil DCB with the leading IN.PACT Admiral DCB. Results show that SurVeil achieved a primary patency rate of 70.8% versus 70.4% for IN.PACT, with comparable safety profiles. SurVeil uses a significantly lower dose of paclitaxel, which may enhance patient outcomes. Surmodics holds a partnership with Abbott (ABT) for commercialization upon FDA approval.

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.