Abbott Labs Stock Price, News & Analysis

Abbott will report its fourth-quarter 2020 financial results on January 27, 2021, before the market opens. The earnings conference call will start at 8 a.m. Central time and will be available via Abbott's Investor Relations website. Abbott is a global healthcare leader with a diverse portfolio in diagnostics, medical devices, and nutritionals, employing over 107,000 colleagues across 160 countries.

On December 22, 2020, Abbott released survey findings indicating that 82% of Americans believe COVID-19 vaccine rollout will be more effective when combined with testing. The survey, conducted by The Harris Poll, highlights that 73% feel vaccines need other precautionary measures to effectively combat the pandemic. Additionally, 86% say testing remains crucial while waiting for widespread vaccine access. Abbott has launched eight COVID-19 tests and delivered over 300 million tests globally. The company emphasizes the importance of continued testing alongside vaccination efforts to control the virus.

Abbott will participate in the 39th Annual J.P. Morgan Healthcare Conference, scheduled for January 12, 2021. The presentation will be led by CEO Robert B. Ford at 9 a.m. Central Time. Interested parties can access a live webcast through Abbott's Investor Relations website, with an archived version available the following day. Abbott is a global healthcare leader dedicated to improving lives through innovative products across diagnostics, medical devices, nutritionals, and generic medicines.

Abbott has received FDA approval for updated labeling of its HeartMate 3 heart pump, allowing its use in pediatric patients with advanced refractory left ventricular heart failure. This provides new treatment options for children awaiting heart transplants or ineligible for them. The pump, already approved for adults, boasts a 79% survival rate at two years in trials. The updated use is supported by data from the ACTION Learning Collaborative, highlighting Abbott's commitment to improving outcomes for pediatric heart failure patients.

Abbott (NYSE: ABT) has received FDA Emergency Use Authorization for its BinaxNOW™ COVID-19 Ag Card, allowing at-home testing with results in minutes. Priced at $25, this test is among the most affordable. Partnering with eMed™, Abbott aims to deliver 30 million tests in Q1 2021 and 90 million in Q2. The test boasts a 91.7% sensitivity and 100% specificity in early symptom cases. This innovation is crucial for increasing access to rapid testing, especially for vulnerable populations, and helps manage the ongoing COVID-19 pandemic.

Abbott has received the CE Mark for its new quantitative SARS-CoV-2 IgG antibody test, enhancing its COVID-19 testing portfolio. This lab-based serology test quantitatively measures IgG levels, providing insights into an individual's immune response to the virus and vaccines. The test boasts high specificity (99.60%) and sensitivity (99.35%) when conducted 15 days after symptoms appear. Abbott plans to seek FDA emergency use authorization for this test as part of its ongoing commitment to support global healthcare in combating COVID-19.

Abbott has launched a new hydration product, Pedialyte with Immune Support, featuring key nutrients aimed at enhancing immune health. This formulation includes prebiotics, vitamin B12, vitamin C, vitamin E, and zinc, designed to complement the electrolyte balance in traditional Pedialyte products. The launch responds to the growing hydration needs among consumers, particularly in light of current health concerns. This product is part of a broader range of Pedialyte offerings, now accessible in pharmacies and online retailers.

Abbott has announced a 25% increase in its quarterly common dividend, raising it to 45 cents per share. This decision reflects Abbott's strong business momentum and commitment to providing immediate value to shareholders. The upcoming dividend, marking the 388th consecutive quarterly payment since 1924, will be distributed on February 16, 2021, to shareholders on record by January 15, 2021. Abbott has maintained a remarkable 49 consecutive years of dividend increases and is listed in the S&P 500 Dividend Aristocrats Index.

Abbott's FreeStyle Libre 2 system has received approval from Health Canada for diabetes management in adults and children aged 4 and older. This innovative glucose monitoring technology includes features like real-time alarms and continuous glucose measurement every minute, sustaining performance for 14 days. It aims to improve diabetes management by providing actionable insights for users and healthcare providers, all at the same price as the original FreeStyle Libre system. The FreeStyle Libre 2 will be accessible to over 3.7 million Canadians living with diabetes.