Abbott Labs Stock Price, News & Analysis

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.

Abbott announced groundbreaking findings from the MOMENTUM 3 study, revealing that its HeartMate 3 heart pump extends survival of advanced heart failure patients beyond five years. With over 1,000 participants, the results show a nearly 60% five-year survival rate, comparable to heart transplant recipients. This heart pump offers a vital alternative for patients who lack transplant eligibility and face median survival of less than a year. The study highlights the need for increased awareness and access to this technology among health professionals.

Abbott has received FDA approval for its Proclaim™ Plus spinal cord stimulation (SCS) system, enhancing pain relief capabilities using FlexBurst360™ therapy. This next-generation system can address pain across six body areas and adapts to patient needs. It features a recharge-free battery lasting up to 10 years and integrates with Abbott's NeuroSphere™ Virtual Clinic for remote adjustments. With chronic pain impacting over 50 million Americans, this innovation positions Abbott to be a leader in neurostimulation technology, offering effective relief beyond traditional systems.

Abbott's recent study, published in The Lancet Neurology, reveals that two blood biomarkers, GFAP and UCH-L1, can accurately predict recovery from traumatic brain injury (TBI). Utilizing Abbott's i-STAT™ TBI Plasma test, the study demonstrated biomarker levels measured within 24 hours post-injury correlate with long-term outcomes, including disability and mortality risks. With a predictive accuracy of 87-89%, these biomarkers facilitate timely treatment decisions. Abbott is also pursuing further FDA clearances to enhance test accessibility.

Abbott and WeightWatchers have announced a strategic partnership aimed at enhancing the health management of individuals living with diabetes. This collaboration will integrate Abbott's FreeStyle Libre continuous glucose monitoring technology with WeightWatchers' diabetes-focused weight loss program. The initiative aims to provide users with actionable insights into their diet and glucose control, thereby improving overall health outcomes. The partnership will initially target users in the United States, commencing in 2023.

Abbott (NYSE: ABT) reported a strong second-quarter performance ending June 30, 2022, with sales of $11.3 billion, reflecting a 10.1% increase and 14.3% organic growth. GAAP diluted EPS grew to $1.14, while adjusted EPS rose 22.2% to $1.43. Notably, $2.3 billion came from global COVID-19 testing-related sales. Abbott raised its full-year EPS guidance, projecting at least $3.50 GAAP and $4.90 adjusted EPS. New product approvals and robust performance in the Diagnostics segment contributed to growth, although Nutrition sales were impacted by a recall.