Abbott Labs Stock Price, News & Analysis

Real Madrid, the 2023-2024 UEFA Champions League, Spanish Super Cup, and La Liga winners, will embark on their 23rd U.S. summer tour as part of the Soccer Champions Tour 2024. The tour includes three matches against top clubs:

1. July 31: Real Madrid vs. AC Milan at Soldier Field, Chicago
2. August 3: Real Madrid vs. FC Barcelona at MetLife Stadium, New Jersey
3. August 6: Real Madrid vs. Chelsea FC at Bank of America Stadium, Charlotte

As Health Sciences and Nutrition Partner of Real Madrid and Global Partner of the Real Madrid Foundation, Abbott is collaborating with the club to support children worldwide through nutrition education and science-based innovation. Their joint initiative, "Beat Malnutrition," aims to raise awareness and reduce malnutrition globally.

Abbott and its nonprofit partners are focusing on disaster resilience in communities most impacted by natural disasters. Since 2006, Abbott has partnered with Feeding America and Direct Relief to prepare for hurricane season by providing:

1. 'Disaster Relief Packs' to food banks, containing nutrition products for 12,000 people this year.

2. 'Disaster Relief Modules' to 80 health clinics, serving over 2,000 people.

Abbott is now expanding beyond preparedness to build year-round resilience through targeted strategies in New Orleans, Dallas, Orlando, and Puerto Rico. This includes grants for infrastructure and systems at food banks and community health clinics. Over the past decade, Abbott and the Abbott Fund have provided more than $50 million in funding and products for disaster relief efforts worldwide.

Abbott (NYSE: ABT) reported strong financial results for Q2 2024, with total sales of $10.4 billion, marking a 4.0% reported sales growth and 9.3% organic growth, driven by a double-digit rise in Medical Devices sales. GAAP diluted EPS was $0.74, while adjusted EPS reached $1.14. Abbott raised its full-year 2024 EPS guidance to $3.30-$3.40 on a GAAP basis and $4.61-$4.71 adjusted. The company also anticipates 9.5%-10.0% organic sales growth, excluding COVID-19 testing sales.

Key approvals include the FDA's nod for the Esprit™ BTK system and two new over-the-counter continuous glucose monitoring systems. Additionally, Abbott received CE Mark for the AVEIR® dual chamber leadless pacemaker system. Global Medical Devices sales surged by 10.2%, with notable growth in Diabetes Care and Electrophysiology segments. Abbott's robust R&D pipeline contributed significantly, with 10 new growth opportunities announced in the first half of 2024.

Abbott (NYSE: ABT) is set to release its second-quarter 2024 financial results on Thursday, July 18, before the market opens.

The company will host a live webcast of the earnings conference call at 8 a.m. Central time (9 a.m. Eastern), which will be accessible on Abbott's Investor Relations website.

An archived edition of the call will also be available later the same day.

Abbott's 2023 Global Sustainability Report highlights the company's progress towards its 2030 Sustainability Plan goals. The report focuses on improving global health access and equity, reducing environmental impact, and fostering workforce development.

Key achievements include the introduction of the AVEIR DR leadless pacemaker, collaborations to expand biosimilar medicines in emerging markets, and emergency medicine initiatives in Tanzania. Environmental efforts saw a 7% reduction in emissions, a 3% decrease in water use, and high waste diversion rates. Workforce initiatives aim to double the targets for job opportunities and STEM training by 2030.

For detailed information, readers are encouraged to review the full report.

Abbott and the National Association of Community Health Centers (NACHC) have launched the second year of the Innovation Incubator initiative to improve access to nutritious food in underinvested communities. Eight health centers across the U.S. will receive $30,000 each to develop and test innovative solutions aimed at integrating healthy food into clinical care. These centers will focus on addressing chronic conditions like obesity, diabetes, and heart disease through nutrition. The results will be shared with 1,400 health centers, benefiting over 31 million patients. Projects range from creating community gardens to providing customized nutrition for expectant mothers and individuals with chronic diseases. This initiative builds on the success of the 2023 program, which focused on digital health literacy and reached more than 45,000 people.

Abbott (NYSE: ABT) has declared its 402nd consecutive quarterly dividend of 55 cents per share, continuing a tradition since 1924. The payment is scheduled for August 15, 2024, to shareholders on record by July 15, 2024. Abbott has consistently increased its dividend for 52 years, securing its membership in the S&P 500 Dividend Aristocrats Index, which includes companies that have raised dividends annually for at least 25 years.

A new wave of health wearables, called biowearables, provides real-time glucose monitoring through technology that connects directly with the body. Abbott's biowearables, including the newly FDA-cleared Lingo and Libre Rio, offer continuous insights into glucose levels via a smartphone app. This allows users to make informed health decisions in real-time, aiding in energy management, weight loss, and diabetes care. Elite athletes like Eliud Kipchoge have successfully used these devices, highlighting their efficacy. Initially developed for diabetes management with FreeStyle Libre, used by 6 million people globally, biowearables are now accessible to a broader audience for overall health and wellness.

Abbott (NYSE: ABT) announced FDA clearance for two over-the-counter continuous glucose monitoring systems, Lingo™ and Libre Rio™. These systems are based on Abbott's FreeStyle Libre® technology. Lingo is aimed at general consumers wanting to improve their health by tracking glucose levels, offering personalized insights and coaching. Libre Rio is designed for adults with Type 2 diabetes who manage their condition through lifestyle changes, providing a measurement range of 40-400 mg/dL. This move aims to make glucose monitoring more accessible, potentially improving health outcomes and quality of life for a broader population.