All articles tagged with #abbott laboratories
Abbott Laboratories reported better-than-expected earnings and sales for the quarter but saw its stock fall by 7.2% due to a narrowed full-year guidance, challenges in Chinese diagnostics, reduced Covid testing sales, and tariff impacts, marking its worst daily decline since 2021.
Abbott Laboratories' stock fell nearly 6% after lowering its 2025 sales outlook following a mixed Q2 report, despite beating revenue and earnings estimates; growth in medical devices and established pharmaceuticals was strong, but diagnostics underperformed, leading to a cautious outlook and a premarket decline.
The FDA has announced the voluntary recall of nearly 14,000 HeartMate II and HeartMate 3 Left Ventricular Assist System (LVAS/LVAD) heart pumps produced by Abbott Laboratories' Thoratec Corp. due to an issue called Extrinsic Outflow Graft Obstruction, which can lead to serious injuries or death. The devices work by assisting the heart's pumping function, but biological material buildup can obstruct the device over time, affecting its effectiveness. There have been 273 reported injuries and 14 deaths associated with this issue, and while the devices remain on the market, Abbott has communicated with customers about the potential problem and provided recommendations for early detection and treatment.
The FDA has issued a Class 1 recall for the HeartMate II and HeartMate 3 heart pumps, manufactured by Thoratec Corp., due to hundreds of injuries and at least 14 deaths. The devices, used for end-stage heart failure patients, have been associated with a buildup of "biological material" that reduces their ability to circulate blood, leading to serious complications. Abbott Laboratories, the manufacturer, has communicated the risk to customers and is working with the FDA to investigate the reported injuries and deaths. The delayed action has raised concerns about transparency and reporting of issues with approved medical devices, as physicians are not mandated to report adverse events to federal regulators.
Healthcare stocks with a history of consistently increasing dividends are a good investment. Johnson & Johnson, with a 62-year track record of raising dividends, offers a 3% yield and a AAA credit rating. Becton, Dickinson, known for medical devices, has raised dividends for 52 years and has a 1.6% yield. Abbott Laboratories, a healthcare conglomerate, has a 52-year history of increasing dividends and a 1.8% yield. These stocks are considered solid long-term investments due to their consistent dividend growth and strong financial positions.
The article discusses the potential of dividend stocks in 2024, highlighting five top picks: Johnson & Johnson, Coca-Cola, Abbott Laboratories, AbbVie, and Medtronic. These companies have a history of consistent dividend growth and strong financials, making them attractive for investors seeking passive income and potential long-term growth. With their solid track records and promising future prospects, these dividend stocks are recommended for investors looking to bolster their portfolios in the coming year.
The article discusses the potential benefits of investing in dividend stocks in 2024, highlighting five top picks: Johnson & Johnson, Coca-Cola, Abbott Laboratories, AbbVie, and Medtronic. These companies have a history of consistent dividend growth and strong financial positions, making them attractive options for investors seeking passive income and potential long-term growth.
Abbott Laboratories will halt the sale of its Similac Probiotic Tri-Blend product for hospitalized preterm infants following a warning letter from the U.S. Food and Drug Administration (FDA). The FDA expressed concerns about the potential risks of fatal diseases or infections caused by bacteria or yeast in the probiotics. Infinant Health, a California-based company, received a similar warning in September and has since voluntarily recalled its product, Evivo with MCT Oil. The FDA is investigating reports of adverse events, including death, associated with these products and is working to obtain evidence and medical records.
The US Federal Trade Commission (FTC) is investigating whether Abbott Laboratories and other baby formula makers colluded in bidding on state contracts, specifically for the US Department of Agriculture's Women, Infants and Children (WIC) program. The FTC is looking into whether the companies "engaged in collusion or coordination with any other market participant regarding the bidding." The antitrust agency also requested information about the company's formula sales outside of the program. Abbott said it was cooperating with the FTC's information requests and was unaware of any factual basis to support the WIC-related investigation.
The Federal Trade Commission is investigating whether baby-formula makers, including Abbott Laboratories, colluded on bids for state contracts. The FTC is also looking into whether company coordination affected sales more broadly, outside the Women, Infants and Children formula-supply program. Abbott, which sells Similac formula, said it is cooperating with the FTC's investigation. The contracts can be lucrative for formula makers because they significantly increase the winning company's market share in a given state.
Abbott Laboratories' revenue and earnings beat Wall Street's expectations despite an 18.1% decrease in revenue from the same period last year, largely driven by a steep decline in global sales of its rapid Covid test. The company's medical devices business fueled the first-quarter beats, with sales of $3.9 billion, up nearly 9% from the same period last year. Abbott lowered its outlook for Covid-testing sales this year to $1.5 billion, down from the $2 billion it forecast in January.
Abbott Laboratories' stock jumped 7.8% after beating Wall Street expectations in its Q1 earnings report, while Netflix's shares fell about 4% after posting a small revenue miss. United Airlines' shares rose 6% after CEO Scott Kirby said the company expects a profit in Q2. CDW's shares plunged 13.7% after reporting weaker-than-expected preliminary quarterly earnings and issuing guidance for its full-year earnings to fall "modestly below" 2022 levels. Peloton Interactive's shares dropped 1.8% after KeyBanc initiated the company as sector weight, citing "macro turbulence, financial distress, and unproven/margin dilutive initiatives" as pressures on Peloton's subscription growth rate and brand uniqueness.
Abbott Laboratories beat expectations in Q1 2021, driven by strong sales growth in its medical devices segment, particularly in heart valve, heart failure, and neuromodulation products. Organic sales growth remained strong, with sales growing 10% organically. Abbott's stock surged 7.8% in response to the earnings release, reaching its highest point since late January. The company expects earnings of $4.30-$4.50 per share and organic sales growth in a high-single-digit range, excluding its Covid-19 tests.