Abbott Laboratories Beats on Earnings and Revenue
April 19, 2017: Abbott Laboratories reports Q1 EPS of $0.48 versus the $0.43 estimate. Revenue also beat coming in at $6.34 billion versus the $6.11 billion estimate.
The CEO Miles D. White said, “Our first quarter results reflect a strong start to the year. The integration of St. Jude is going well and recently launched products are contributing to double-digit sales growth across several areas of our Medical Devices business.”
February 1, 2017: Abbott Laboratories announced U.S. Food and Drug Administration (FDA) approval for magnetic resonance (MR)-conditional labeling for both the Assurity MRI pacemaker and the Tendril™ MRI pacing lead. Patients implanted with these low-voltage devices will have the ability to undergo full body magnetic resonance imaging (MRI) scans, if required. With the approval, the Assurity MRI pacemaker is now the world’s smallest, longest-lasting wireless MRI-compatible pacemaker.
January 13, 2017: Abbott Laboratories announced today the U.S. launch and the first commercial uses of the new EnSite Precision cardiac mapping system and AdvisorFL Circular Mapping Catheter, Sensor Enabled to map cardiac arrhythmias during ablation treatments. The first commercial use of the system after U.S. Food and Drug Administration clearance occurred at the Intermountain Heart Institute at Intermountain Medical Center in Salt Lake City during ablation procedures conducted by electrophysiologist John Day, M.D.
Since the landmark clinical cases by Dr. Day, additional procedures supported by the new EnSite Precision cardiac mapping system have occurred in 12 states nationwide, supporting ablation procedures to treat complex arrhythmias. Abbott expects its new cardiac mapping technology to quickly become a new standard for use in treating patients experiencing arrhythmias from multiple origins in the heart. In the coming weeks, physicians across the country will begin to use the EnSite Precision cardiac mapping system.
January 7, 2017: Deutsche Bank reiterates a Buy rating on Abbott Laboratories and sets a price target of $49. Deutsche Bank thinks the valuation (P/E 16.8) is attractive and believes as product milestones are achieved and the company delivers on the integration and growth targets, the P/E multiple should expand to that of its peers and historical values.
Abbott Laboratories Stock Chart
The Finviz screener settings used to find Abbott Laboratories are: Sector Healthcare, Forward P/E Under 20, EPS growth this year Over 30%, Insider Transactions Very Positive (>20%)
Abbott is a global healthcare company devoted to improving life through the development of products and technologies that span the breadth of healthcare.
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