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31500.0 | 2022-07-27 00:00:00 UTC | Wall Street Finds this Healthcare Stock more Enticing, Post Q2 Results | ABT | https://www.nasdaq.com/articles/wall-street-finds-this-healthcare-stock-more-enticing-post-q2-results | nan | nan | Healthcare companies might not be completely immune to an economic downturn, but they are generally more resilient than companies in several other sectors. Despite higher input costs and a worsening macro backdrop, some healthcare companies recently reported better-than-anticipated results for the second quarter. We used the TipRanks Stock Comparison Tool to pit Johnson & Johnson, Abbott, and UnitedHealth against each other to pick the healthcare stock that Wall Street analysts are more bullish about.
Johnson & Johnson (NYSE: JNJ)
JNJ topped analysts’ second-quarter expectations, with sales rising 3% to $24 billion and adjusted earnings per share (EPS) up 4.4% to $2.59. Results were driven by the strength in the company’s Pharmaceutical unit, backed by robust sales of several drugs, like psoriasis medicine Stelara and cancer drug Darzalex.
However, the company’s Consumer Health and MedTech units delivered lower sales. Despite a strong Q2 performance, JNJ lowered its full-year guidance due to currency headwinds.
Cantor Fitzgerald analyst Louise Chen believes that JNJ’s upbeat Q2 results reflect the strength of its products, a diversified business model, and strong execution. The analyst noted that JNJ’s key pharmaceutical products, including Darzalex, Stelara, Erleada, Xarelto, and the COVID-19 vaccine, delivered better-than-anticipated Q2 sales.
Chen believes that favorable revisions to earnings estimates and EV/EBIT (2022 estimate) multiple expansion from 15x to the range of 17x-20x, fueled by above-market growth in JNJ’s key franchises, could drive the stock higher. In line with his optimism, Chen reiterated a Buy rating on JNJ stock and a price target of $215.
Overall, the Street is cautiously optimistic about JNJ stock, with a Moderate Buy consensus rating based on eight Buys and four Holds. The average Johnson & Johnson price target of $189.17 implies 8.92% upside potential from current levels.
Abbott Laboratories (NYSE: ABT)
Abbott handily exceeded analysts’ revenue and EPS expectations for the second quarter, thanks to $2.3 billion in COVID-19 testing-related sales. The company’s total sales grew 10.1% to $11.3 billion, despite the loss of sales from its infant formula products due to a voluntary recall and manufacturing shutdown. Furthermore, adjusted EPS grew 22.2% to $1.43.
Abbott, which dominates the infant formula market, has been losing market share since it recalled its products in February this year. However, the company reassured investors that it has regained half of the market share that it has lost over the last few months. Abbott resumed partial production of infant formula at its Sturgis, Michigan plant earlier this month.
Meanwhile, robust Q2 performance helped Abbott raise its full-year adjusted EPS guidance to at least $4.90, from the previous outlook of at least $4.70.
Following the print, RBC Capital analyst Shagun Singh Chadha lowered her price target on Abbott stock to $132 from $143, and reiterated a Buy rating. Chadha stated that the company's Q2 results were "solid", with COVID-19 testing sales beating analysts’ consensus by $1 billion.
The analyst believes that the sell-off in the stock following the results reflects growing macro challenges, as well as the impact of staffing issues and the pandemic-led lockdowns in China on the medical device business. Chadha also pointed out that Abbott increased its full-year EPS outlook by only $0.20, which is less than the margin by which it beat Q2 estimates. The outlook also reflects the impact of macro headwinds.
All in all, Abbott scores a Moderate Buy consensus rating backed by ten Buys and two Sells. At $120.58, the average Abbott price target implies 10.53% upside potential from current levels.
UnitedHealth Group (NYSE: UNH)
Health insurance giant UnitedHealth’s second-quarter revenue grew 13% to $80.3 billion, driven by double-digit growth at its Optum and UnitedHealthcare segments. Adjusted EPS surged 19% to $5.57, due to solid top-line growth and operating margin expansion in the UnitedHealthcare segment.
Additionally, the medical care ratio, a key metric that indicates the percentage of premiums spent on medical costs, came in at 81.5%, compared to 82.8% in the prior-year quarter. A lower medical care ratio bodes well for UnitedHealth, as it implies higher profitability for the insurer.
UnitedHealth raised its full-year earnings guidance, backed by the strong performance in the first half of the year. It now expects adjusted EPS in the range of $21.40 to $21.90, compared to the previous outlook of $21.20 to $21.70.
In reaction to the Q2 results and improved outlook, Argus analyst David Toung boosted his price target for UnitedHealth stock to $650 from $580, and reiterated a Buy rating. Toung believes that there are solid growth drivers in UnitedHealth’s managed care and Optum businesses. The analyst highlighted that the company’s top-line growth coupled with margin expansion is fueling its industry-leading return on investment (ROI).
On TipRanks, UnitedHealth scores a Strong Buy consensus rating based on 12 Buys and four Holds. The average UnitedHealth price target of $587.38 implies 10.49% upside potential from current levels.
Conclusion
Abbott stock is down 22.5% year-to-date, while shares of Johnson & Johnson and UnitedHealth are up 1.5% and nearly 6%, respectively. While the upside potential based on average price targets seems comparable for these three healthcare stocks, Wall Street analysts seem more bullish on UnitedHealth. UnitedHealth is optimistic about delivering its long-term EPS growth target of 13% to 16%, based on strong growth opportunities across its Optum and UnitedHealthcare divisions.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (NYSE: ABT) Abbott handily exceeded analysts’ revenue and EPS expectations for the second quarter, thanks to $2.3 billion in COVID-19 testing-related sales. Cantor Fitzgerald analyst Louise Chen believes that JNJ’s upbeat Q2 results reflect the strength of its products, a diversified business model, and strong execution. The analyst believes that the sell-off in the stock following the results reflects growing macro challenges, as well as the impact of staffing issues and the pandemic-led lockdowns in China on the medical device business. | Abbott Laboratories (NYSE: ABT) Abbott handily exceeded analysts’ revenue and EPS expectations for the second quarter, thanks to $2.3 billion in COVID-19 testing-related sales. Johnson & Johnson (NYSE: JNJ) JNJ topped analysts’ second-quarter expectations, with sales rising 3% to $24 billion and adjusted earnings per share (EPS) up 4.4% to $2.59. The average Johnson & Johnson price target of $189.17 implies 8.92% upside potential from current levels. | Abbott Laboratories (NYSE: ABT) Abbott handily exceeded analysts’ revenue and EPS expectations for the second quarter, thanks to $2.3 billion in COVID-19 testing-related sales. We used the TipRanks Stock Comparison Tool to pit Johnson & Johnson, Abbott, and UnitedHealth against each other to pick the healthcare stock that Wall Street analysts are more bullish about. Johnson & Johnson (NYSE: JNJ) JNJ topped analysts’ second-quarter expectations, with sales rising 3% to $24 billion and adjusted earnings per share (EPS) up 4.4% to $2.59. | Abbott Laboratories (NYSE: ABT) Abbott handily exceeded analysts’ revenue and EPS expectations for the second quarter, thanks to $2.3 billion in COVID-19 testing-related sales. Johnson & Johnson (NYSE: JNJ) JNJ topped analysts’ second-quarter expectations, with sales rising 3% to $24 billion and adjusted earnings per share (EPS) up 4.4% to $2.59. In line with his optimism, Chen reiterated a Buy rating on JNJ stock and a price target of $215. |
31501.0 | 2022-07-27 00:00:00 UTC | Reckitt posts 11.9% rise in quarterly like-for-like sales, beating expectations | ABT | https://www.nasdaq.com/articles/reckitt-posts-11.9-rise-in-quarterly-like-for-like-sales-beating-expectations | nan | nan | LONDON, July 27 (Reuters) - Britain's Reckitt Benckiser RKT.L, maker of Dettol and Lysol cleaning products, on Wednesday beat second-quarter sales expectations after raising prices to make up for soaring input costs.
The company said quarterly like-for-like revenue rose 11.9%, on a constant currency basis, ahead of the 6.8% growth analysts had expected in a company-supplied poll.
(Reporting by Richa Naidu Editing by Mark Potter)
((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +44 755 755 9587;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | LONDON, July 27 (Reuters) - Britain's Reckitt Benckiser RKT.L, maker of Dettol and Lysol cleaning products, on Wednesday beat second-quarter sales expectations after raising prices to make up for soaring input costs. The company said quarterly like-for-like revenue rose 11.9%, on a constant currency basis, ahead of the 6.8% growth analysts had expected in a company-supplied poll. (Reporting by Richa Naidu Editing by Mark Potter) ((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +44 755 755 9587;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | LONDON, July 27 (Reuters) - Britain's Reckitt Benckiser RKT.L, maker of Dettol and Lysol cleaning products, on Wednesday beat second-quarter sales expectations after raising prices to make up for soaring input costs. The company said quarterly like-for-like revenue rose 11.9%, on a constant currency basis, ahead of the 6.8% growth analysts had expected in a company-supplied poll. (Reporting by Richa Naidu Editing by Mark Potter) ((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +44 755 755 9587;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | LONDON, July 27 (Reuters) - Britain's Reckitt Benckiser RKT.L, maker of Dettol and Lysol cleaning products, on Wednesday beat second-quarter sales expectations after raising prices to make up for soaring input costs. The company said quarterly like-for-like revenue rose 11.9%, on a constant currency basis, ahead of the 6.8% growth analysts had expected in a company-supplied poll. (Reporting by Richa Naidu Editing by Mark Potter) ((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +44 755 755 9587;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | LONDON, July 27 (Reuters) - Britain's Reckitt Benckiser RKT.L, maker of Dettol and Lysol cleaning products, on Wednesday beat second-quarter sales expectations after raising prices to make up for soaring input costs. The company said quarterly like-for-like revenue rose 11.9%, on a constant currency basis, ahead of the 6.8% growth analysts had expected in a company-supplied poll. (Reporting by Richa Naidu Editing by Mark Potter) ((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +44 755 755 9587;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
31502.0 | 2022-07-26 00:00:00 UTC | 2 Surefire Dividend Stocks That Are Laughing Off Inflation | ABT | https://www.nasdaq.com/articles/2-surefire-dividend-stocks-that-are-laughing-off-inflation | nan | nan | Inflation can be a scary ordeal for dividend payers, just like it can be for investors. When companies face rising prices and diminished consumer demand, it compresses their margins -- and with thinning margins, it's hard to justify paying a dividend or raising the payout that investors expect.
So if you want to build your dividend income despite inflation, you'll need to pick the sturdiest businesses around, and preferably those that have a history of paying out even when economic times are tough. Companies that get even stronger during periods of inflation are even more appealing. Let's examine a pair of stocks that fit these two criteria swimmingly.
1. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) isn't struggling with inflation, because its biggest customers are healthcare systems rather than consumers. Though the company's recent issues with producing enough baby formula may have made the news, the problems weren't caused by inflation, but rather quality control issues, and its top line is holding strong. Its quarterly profit margin is still around 17.9%, which is near its three-year high of just over 20%.
And with hospitals everywhere counting on Abbott to supply diagnostic tests, medical devices, surgical tools, and branded generic medicines, it isn't about to see dropping demand anytime soon. In fact, its new glucose monitor, the FreeStyle Libre 3, is already being distributed in 60 countries less than three months from its launch in the U.S., and it's expected to be a significant driver of growth moving forward.
Over the past five years, quarterly net income has grown by 234.7%, reaching more than $2 billion, so the company also performs quite well even when economic conditions are more favorable.
Abbott Labs' burgeoning product portfolio is part of the reason it can keep hiking its dividend year after year, which should also give investors confidence in its ability to keep performing strongly during periods of inflation. After 50 years of increasing its payout every year without fail -- earning it the status of Dividend King -- it's safe to say that prior bouts of inflation weren't much of an obstacle.
Its dividend presently has a forward yield of around 1.7%, which isn't particularly high, nor is the payout's most recent increase of 4.4% going to change much for shareholders. But management opted to raise it by a whopping 25% at the end of 2020, so investors shouldn't need to worry about the pace of increases picking up again as economic conditions allow.
2. Costco
Costco Wholesale's (NASDAQ: COST) approach to inflation is a bit more price-driven than Abbott Labs'. Costco's business model is to sell consumer goods and groceries at wholesale prices to customers, from whom it also extracts a membership fee, so it needs to be very price sensitive. When consumers are facing inflation and hunting for a bargain, they go to Costco.
So if management opted to raise prices as aggressively as might be warranted to maintain its razor-thin margin near 2.6%, it could destroy demand. But if Costco keeps prices as low as possible, it could actually sell more goods in an inflationary or recessionary environment than it would otherwise -- and that's exactly what's happening.
In June, the wholesaler's revenue grew by 20.4% compared to the same month a year ago, totaling nearly $22.8 billion. For the year so far, the same trend holds, with sales rising by an impressive 16.9%. That means inflation is indeed driving consumers to buy more with Costco, which implies it shouldn't have any trouble continuing to pay and raise its dividend.
On that note, its forward yield is paltry, at just below 0.7%. Still, over the last 10 years, its dividend has grown by an impressive 227%, punctuated by four giant special dividends as a bonus. And as long as people keep turning to Costco for well-priced bulk groceries, clothes, home goods, and the cornucopia of other products and services it offers, inflation won't be a concern, and it'll continue to grow without incident.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) isn't struggling with inflation, because its biggest customers are healthcare systems rather than consumers. And with hospitals everywhere counting on Abbott to supply diagnostic tests, medical devices, surgical tools, and branded generic medicines, it isn't about to see dropping demand anytime soon. In fact, its new glucose monitor, the FreeStyle Libre 3, is already being distributed in 60 countries less than three months from its launch in the U.S., and it's expected to be a significant driver of growth moving forward. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) isn't struggling with inflation, because its biggest customers are healthcare systems rather than consumers. When companies face rising prices and diminished consumer demand, it compresses their margins -- and with thinning margins, it's hard to justify paying a dividend or raising the payout that investors expect. Costco's business model is to sell consumer goods and groceries at wholesale prices to customers, from whom it also extracts a membership fee, so it needs to be very price sensitive. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) isn't struggling with inflation, because its biggest customers are healthcare systems rather than consumers. When companies face rising prices and diminished consumer demand, it compresses their margins -- and with thinning margins, it's hard to justify paying a dividend or raising the payout that investors expect. Abbott Labs' burgeoning product portfolio is part of the reason it can keep hiking its dividend year after year, which should also give investors confidence in its ability to keep performing strongly during periods of inflation. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) isn't struggling with inflation, because its biggest customers are healthcare systems rather than consumers. Over the past five years, quarterly net income has grown by 234.7%, reaching more than $2 billion, so the company also performs quite well even when economic conditions are more favorable. Abbott Labs' burgeoning product portfolio is part of the reason it can keep hiking its dividend year after year, which should also give investors confidence in its ability to keep performing strongly during periods of inflation. |
31503.0 | 2022-07-26 00:00:00 UTC | Abbott Unveils NeuroSphere Virtual Clinic In Canada | ABT | https://www.nasdaq.com/articles/abbott-unveils-neurosphere-virtual-clinic-in-canada | nan | nan | (RTTNews) - Abbott Laboratories (ABT) announced Tuesday that remote Neuromodulation Patient-Care Technology, NeuroSphere Virtual Clinic, has received the Health Canada licencing. The neuromodulation device is to treat people with chronic pain and movement disorders.
Abbott's NeuroSphere Virtual Clinic gives patients the flexibility and comfort of receiving care anywhere. The new system allows patients implanted with an Abbott neuromodulation device to communicate with their physician and remotely receive treatment in real time, regardless of location.
The company noted that NeuroSphere Virtual Clinic is the first of its kind in Canada. It has the potential to increase access to optimal treatment for patients living with chronic pain, Parkinson's disease, or essential tremors, who might otherwise have difficulty receiving care due to location or being unable to travel to seek care.
Patients can connect with their doctor through a secure in-app video chat and an integrated remote programming feature. This enables clinicians to prescribe new treatment settings remotely to the patient's neurostimulation device using the clinician programmer app and a new, simple, and secure remote care connection.
NeuroSphere Virtual Clinic is compatible with Canadian-licensed Abbott neuromodulation devices, such as Proclaim spinal cord stimulation, Proclaim dorsal root ganglion therapy, and Infinity deep brain stimulation therapy.
Abbott's NeuroSphere Virtual Clinic was first launched in the United States in March 2021.
For More Such Health News, visit rttnews.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott Laboratories (ABT) announced Tuesday that remote Neuromodulation Patient-Care Technology, NeuroSphere Virtual Clinic, has received the Health Canada licencing. The new system allows patients implanted with an Abbott neuromodulation device to communicate with their physician and remotely receive treatment in real time, regardless of location. Patients can connect with their doctor through a secure in-app video chat and an integrated remote programming feature. | (RTTNews) - Abbott Laboratories (ABT) announced Tuesday that remote Neuromodulation Patient-Care Technology, NeuroSphere Virtual Clinic, has received the Health Canada licencing. Abbott's NeuroSphere Virtual Clinic gives patients the flexibility and comfort of receiving care anywhere. This enables clinicians to prescribe new treatment settings remotely to the patient's neurostimulation device using the clinician programmer app and a new, simple, and secure remote care connection. | (RTTNews) - Abbott Laboratories (ABT) announced Tuesday that remote Neuromodulation Patient-Care Technology, NeuroSphere Virtual Clinic, has received the Health Canada licencing. This enables clinicians to prescribe new treatment settings remotely to the patient's neurostimulation device using the clinician programmer app and a new, simple, and secure remote care connection. NeuroSphere Virtual Clinic is compatible with Canadian-licensed Abbott neuromodulation devices, such as Proclaim spinal cord stimulation, Proclaim dorsal root ganglion therapy, and Infinity deep brain stimulation therapy. | (RTTNews) - Abbott Laboratories (ABT) announced Tuesday that remote Neuromodulation Patient-Care Technology, NeuroSphere Virtual Clinic, has received the Health Canada licencing. Abbott's NeuroSphere Virtual Clinic gives patients the flexibility and comfort of receiving care anywhere. It has the potential to increase access to optimal treatment for patients living with chronic pain, Parkinson's disease, or essential tremors, who might otherwise have difficulty receiving care due to location or being unable to travel to seek care. |
31504.0 | 2022-07-25 00:00:00 UTC | The Zacks Analyst Blog Highlights Visa, Abbott Laboratories, Salesforce, Wells Fargo and Centene | ABT | https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-visa-abbott-laboratories-salesforce-wells-fargo-and | nan | nan | For Immediate Release
Chicago, IL – July 25, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Visa Inc. V, Abbott Laboratories ABT, Salesforce, Inc. CRM, Wells Fargo & Co. WFC and Centene Corp. CNC.
Here are highlights from Friday’s Analyst Blog:
Top Research Reports for Visa, Abbott and Salesforce
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Visa Inc., Abbott Laboratories and Salesforce, Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today's research reports here >>>
Visa shares are down -2% in the year-to-date period, outperforming Mastercard's -5.2% decline and the S&P 500 index's -22.7% drop. Driving this positive outperformance is the company's favorable long-term growth outlook, which reflects a combination of attractive buyouts and alliances and investments in technology.
A shift in payments to the digital mode is a boon. The coronavirus vaccine rollouts and the gradual revival of consumer confidence will keep driving spending, expanding business volumes in turn. Backed by its strong cash position, it remains committed to boost its shareholder value. Its balance sheet strength is commendable.
However, high operating expenses stress the margins. Ramped-up client incentives will dent the top line. Its declining cash volume from the Asia Pacific bothers. Its volumes will likely suffer due to the Russia-Ukraine situation.
(You can read the full research report on Visa here >>>)
Abbott shares have declined -10.1% over the past year against the Zacks Medical sector's decline of -17.5% and the S&P 500 index's -16.9% pullback.
While Abbott is faced with the negative repercussions of a voluntary recall of certain powder formulae produced at one of its U.S. plants, it remins well positioned for robust organic sales growth across core operating segments, barring Nutrition.
The Diabetes Care business should continue to benefit from the growing sales of sensor-based continuous glucose monitoring system, FreeStyle Libre. The zacks analyst is particularly upbeat about the receipt of FDA clearance for the company's FreeStyle Libre 3 system in May 2022. Over the past year,
(You can read the full research report on Abbott here >>>)
Salesforce shares have enjoyed a nice bounce back in recent days, but the stock is still down -28.5% in the year-to-date period vs. -38.8% for the Zacks Tech sector and -22.7% for the S&P 500 index. The biggest worry weighing on the stock is uncertainty about technology spending that remains a headwind for the entire software group in the current uncertain macro backdrop. Also weighing on near-term profitability are unfavorable currency fluctuations and increasing investments in international expansions and data centers.
However, the company is benefiting from a robust demand environment as customers are undergoing a major digital transformation. The rapid adoption of its cloud-based solutions is driving demand for its products. Salesforce's sustained focus on introducing more aligned products as per customer needs is driving its top-line.
Continued deal wins in the international market is another growth driver. Furthermore, the recent acquisition of Slack would position the company to be a leader in enterprise team collaboration solution space and better compete with Microsoft's Teams product
(You can read the full research report on Salesforce here >>>)
Other noteworthy reports we are featuring today include Wells Fargo & Co. and Centene Corp.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks recently featured in the blog include: Visa Inc. V, Abbott Laboratories ABT, Salesforce, Inc. CRM, Wells Fargo & Co. WFC and Centene Corp. CNC. Abbott Laboratories (ABT): Free Stock Analysis Report While Abbott is faced with the negative repercussions of a voluntary recall of certain powder formulae produced at one of its U.S. plants, it remins well positioned for robust organic sales growth across core operating segments, barring Nutrition. | Stocks recently featured in the blog include: Visa Inc. V, Abbott Laboratories ABT, Salesforce, Inc. CRM, Wells Fargo & Co. WFC and Centene Corp. CNC. Abbott Laboratories (ABT): Free Stock Analysis Report Here are highlights from Friday’s Analyst Blog: Top Research Reports for Visa, Abbott and Salesforce The Zacks Research Daily presents the best research output of our analyst team. | Stocks recently featured in the blog include: Visa Inc. V, Abbott Laboratories ABT, Salesforce, Inc. CRM, Wells Fargo & Co. WFC and Centene Corp. CNC. Abbott Laboratories (ABT): Free Stock Analysis Report Here are highlights from Friday’s Analyst Blog: Top Research Reports for Visa, Abbott and Salesforce The Zacks Research Daily presents the best research output of our analyst team. | Stocks recently featured in the blog include: Visa Inc. V, Abbott Laboratories ABT, Salesforce, Inc. CRM, Wells Fargo & Co. WFC and Centene Corp. CNC. Abbott Laboratories (ABT): Free Stock Analysis Report Here are highlights from Friday’s Analyst Blog: Top Research Reports for Visa, Abbott and Salesforce The Zacks Research Daily presents the best research output of our analyst team. |
31505.0 | 2022-07-22 00:00:00 UTC | Top Research Reports for Visa, Abbott & Salesforce | ABT | https://www.nasdaq.com/articles/top-research-reports-for-visa-abbott-salesforce | nan | nan | Friday, July 22, 2022
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Visa Inc. (V), Abbott Laboratories (ABT) and Salesforce, Inc. (CRM). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Visa shares are down -2% in the year-to-date period, outperforming Mastercard's -5.2% decline and the S&P 500 index's -22.7% drop. Driving this positive outperformance is the company’s favorable long-term growth outlook, which reflects a combination of attractive buyouts and alliances and investments in technology.
A shift in payments to the digital mode is a boon. The coronavirus vaccine rollouts and the gradual revival of consumer confidence will keep driving spending, expanding business volumes in turn. Backed by its strong cash position, it remains committed to boost its shareholder value. Its balance sheet strength is commendable.
However, high operating expenses stress the margins. Ramped-up client incentives will dent the top line. Its declining cash volume from the Asia Pacific bothers. Its volumes will likely suffer due to the Russia-Ukraine situation.
(You can read the full research report on Visa here >>>)
Abbott shares have declined -10.1% over the past year against the Zacks Medical sector's decline of -17.5% and the S&P 500 index's -16.9% pullback.
While Abbott is faced with the negative repercussions of a voluntary recall of certain powder formulae produced at one of its U.S. plants, it remins well positioned for robust organic sales growth across core operating segments, barring Nutrition.
The Diabetes Care business should continue to benefit from the growing sales of sensor-based continuous glucose monitoring system, FreeStyle Libre. The zacks analyst is particularly upbeat about the receipt of FDA clearance for the company’s FreeStyle Libre 3 system in May 2022. Over the past year,
(You can read the full research report on Abbott here >>>)
Salesforce shares have enjoyed a nice bounce back in recent days, but the stock is still down -28.5% in the year-to-date period vs. -38.8% for the Zacks Tech sector and -22.7% for the S&P 500 index. The biggest worry weighing on the stock is uncertainty about technology spending that remains a headwind for the entire software group in the current uncertain macro backdrop. Also weighing on near-term profitability are unfavorable currency fluctuations and increasing investments in international expansions and data centers.
However, the company is benefiting from a robust demand environment as customers are undergoing a major digital transformation. The rapid adoption of its cloud-based solutions is driving demand for its products. Salesforce’s sustained focus on introducing more aligned products as per customer needs is driving its top-line.
Continued deal wins in the international market is another growth driver. Furthermore, the recent acquisition of Slack would position the company to be a leader in enterprise team collaboration solution space and better compete with Microsoft’s Teams product
(You can read the full research report on Salesforce here >>>)
Other noteworthy reports we are featuring today include Wells Fargo & Company (WFC), Intuit Inc. (INTU), and Centene Corporation (CNC).
Sheraz Mian
Director of Research
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Visa (V) Banks on Renewed Agreements, Rising Costs Hurt
Organic Sales Gain, Rise in Fiscal View Aid Abbott (ABT)
Digital Transformation and Acquisitions Aid Salesforce (CRM)
Featured Reports
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Per the Zacks analyst, Wells Fargo's cost-saving measures like branch closures and headcount reduction will help offset falling revenue trends due to business divestures and volatile fee income.
Intuit (INTU) Rides on Product Refresh, Higher Subscriptions
Per the Zacks analyst, Intuit is benefiting from frequent product refreshes, which help it to gain customers. Moreover, increase in subscriptions is driving stable revenue growth for the company.
Centene (CNC) Rides on Growing Revenues Amid Rising Costs
Per the Zacks analyst, solid Medicaid business, several contract wins and acquisitions continue to drive the company's revenues. However, elevated expenses remain a concern.
General Mills (GIS) Gains From Focus on Accelerate Strategy
Per the Zacks analyst, General Mills is gaining from its Accelerate strategy, as part of which it is competing efficiently via brand building, investing in saving initiatives and reshaping portfolio.
Cost Management & Regulated investment Aid Exelon (EXC)
Per the Zacks analyst Exelon's cost management initiatives will have positive impact on margins and its planned $29B investments through 2025 will strengthen its operation.
Biogen's (BIIB) Upcoming Product Launches May Revive Growth
The Zacks analyst says that potential new product launches like lecanemab, zuranolone and additional biosimilars can help revive growth at Biogen, which is facing multiple challenges at present.
Nokia (NOK) Rides on Healthy Demand Trends, 5G Traction
Per the Zacks analyst, Nokia is poised to benefit from the increasing demand for next-generation connectivity as it aims to accelerate product roadmaps and cost competitiveness through 5G investments.
New Upgrades
Technology, DARTs, High Rates Aid Interactive Brokers (IBKR)
Per the Zacks analyst, Interactive Brokers' focus on developing of proprietary software have resulted in higher revenues and daily average revenue trades (DARTs). Rising rates will aid the top line.
Reliable Assets, Free Cash Flow Plan Aid CNX Resources (CNX)
Per the Zacks analyst CNX Resources' Marcellus and Utica shales assets will continue to boost production and long-term plan to generate $3.3 billion free cash flow will help to fortify balance sheet.
Higher Gas Processing Capacities to Aid Crestwood (CEQP)
The Zacks analyst likes Crestwood since the master limited partnership has entered into highly synergetic transactions that will boost its natural gas processing capabilities in Delaware.
New Downgrades
Low Commodity Prices & High Expenses to Hurt Wheaton (WPM)
The Zacks Analyst is concerned that decline in the commodity prices as well as higher expenses related to mine exploration, development and acquisitions will impact Wheaton's results.
Elevated Costs to Hurt DICK'S Sporting's (DKS) Gross Margin
Per the Zacks analyst, DICK'S Sporting witnesses soft gross margin trend on elevated supply chain costs, rising occupancy costs and the current geopolitical issues. This is likely to persist in 2022.
Inflationary Pressures Hurt BJ's Restaurants (BJRI) Prospects
Per the Zacks analyst, BJ's Restaurants has been witnessing elevated costs owing to higher inflation in food and labor costs. Also, decline in traffic from pre-pandemic levels is a concern.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Today's Research Daily features new research reports on 16 major stocks, including Visa Inc. (V), Abbott Laboratories (ABT) and Salesforce, Inc. (CRM). If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Visa (V) Banks on Renewed Agreements, Rising Costs Hurt Organic Sales Gain, Rise in Fiscal View Aid Abbott (ABT) Digital Transformation and Acquisitions Aid Salesforce (CRM) Featured Reports Cost Control Aids Wells Fargo (WFC) Amid Declining Revenues Per the Zacks analyst, Wells Fargo's cost-saving measures like branch closures and headcount reduction will help offset falling revenue trends due to business divestures and volatile fee income. Abbott Laboratories (ABT): Free Stock Analysis Report | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Visa (V) Banks on Renewed Agreements, Rising Costs Hurt Organic Sales Gain, Rise in Fiscal View Aid Abbott (ABT) Digital Transformation and Acquisitions Aid Salesforce (CRM) Featured Reports Cost Control Aids Wells Fargo (WFC) Amid Declining Revenues Per the Zacks analyst, Wells Fargo's cost-saving measures like branch closures and headcount reduction will help offset falling revenue trends due to business divestures and volatile fee income. Today's Research Daily features new research reports on 16 major stocks, including Visa Inc. (V), Abbott Laboratories (ABT) and Salesforce, Inc. (CRM). Abbott Laboratories (ABT): Free Stock Analysis Report | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Visa (V) Banks on Renewed Agreements, Rising Costs Hurt Organic Sales Gain, Rise in Fiscal View Aid Abbott (ABT) Digital Transformation and Acquisitions Aid Salesforce (CRM) Featured Reports Cost Control Aids Wells Fargo (WFC) Amid Declining Revenues Per the Zacks analyst, Wells Fargo's cost-saving measures like branch closures and headcount reduction will help offset falling revenue trends due to business divestures and volatile fee income. Today's Research Daily features new research reports on 16 major stocks, including Visa Inc. (V), Abbott Laboratories (ABT) and Salesforce, Inc. (CRM). Abbott Laboratories (ABT): Free Stock Analysis Report | Today's Research Daily features new research reports on 16 major stocks, including Visa Inc. (V), Abbott Laboratories (ABT) and Salesforce, Inc. (CRM). If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Visa (V) Banks on Renewed Agreements, Rising Costs Hurt Organic Sales Gain, Rise in Fiscal View Aid Abbott (ABT) Digital Transformation and Acquisitions Aid Salesforce (CRM) Featured Reports Cost Control Aids Wells Fargo (WFC) Amid Declining Revenues Per the Zacks analyst, Wells Fargo's cost-saving measures like branch closures and headcount reduction will help offset falling revenue trends due to business divestures and volatile fee income. Abbott Laboratories (ABT): Free Stock Analysis Report |
31506.0 | 2022-07-22 00:00:00 UTC | What To Expect From Boston Scientific Stock Following Q2 Earnings? | ABT | https://www.nasdaq.com/articles/what-to-expect-from-boston-scientific-stock-following-q2-earnings | nan | nan | Boston Scientific (NYSE: BSX) is scheduled to report its Q2 2021 results on Wednesday, July 27. We expect the company to report revenues and earnings in line with the consensus estimates. A rise in the number of elective surgeries performed will likely aid the company’s top-line growth. However, lockdowns in China owing to a Covid wave in Q2 probably weighed on the overall top-line growth. Furthermore, higher inflation may weigh on the company’s operating margins.
Although we expect Boston Scientific to post in-line results in Q2, our forecast indicates that BSX stock is undervalued at its current levels, as discussed below. Our interactive dashboard analysis of the Boston Scientific Earnings Preview has additional details.
(1) Revenues expected to align with the consensus estimates
Trefis estimates Boston Scientific’s Q2 2022 revenues to be around $3.2 billion, in-line with the consensus estimates.
The company should benefit from a continued uptick in elective procedures post-pandemic.
Its recent acquisitions, including Baylis, should aid the overall revenue growth.
Looking back at Q1, the company reported a 10% y-o-y rise in sales to $3.0 billion, led by a healthy 11% growth for its Cardiovascular segment, a 10% growth for Medical Devices, and a 9% rise in MedSurg sales.
Our dashboard on Boston Scientific Revenues offers more details on the company’s segments.
(2) EPS is likely to be in line with the consensus estimates
Boston Scientific’s Q2 2022 adjusted earnings per share (EPS) is expected to be $0.43 per Trefis analysis, aligning with the consensus estimate.
Boston Scientific’s adjusted net income of $562 million in Q1 2021 reflected a 7% growth from its $524 million figure in the prior-year quarter.
This can be attributed to higher revenue partially offset by lower net margins.
The ongoing inflationary headwinds and supply chain disruption likely weighed on the company’s net margin expansion in Q2.
For the full-year 2022, we expect the adjusted EPS to be higher at $1.80, compared to $1.63 in 2021.
(3) BSX stock appears to be undervalued
We estimate Boston Scientific’s Valuation to be $47 per share, which is 27% above the current market price of $37.
At its current levels, BSX stock is trading at under 21x forward P/E based on our earnings forecast of $1.80 for 2022, compared to the last three-year average of 31x, implying that BSX stock is attractive from a valuation point of view.
If the company reports upbeat Q2 results and provides an outlook better than the street estimates, the P/E multiple will likely be revised upward, resulting in higher levels for BSX stock.
While BSX stock looks undervalued, it is helpful to see how Boston Scientific’s Peers fare on metrics that matter. You will find other valuable comparisons for companies across industries at Peer Comparisons.
Furthermore, the Covid-19 crisis has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for Xylem vs. Merck.
With inflation rising and the Fed raising interest rates, among other factors, BSX stock has fallen 14% this year. Can it drop more? See how low Boston Scientific stock can go by comparing its decline in previous market crashes. Here is a performance summary of all stocks in previous market crashes.
What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.
Returns Jul 2022
MTD [1] 2022
YTD [1] 2017-22
Total [2]
BSX Return 0% -12% 72%
S&P 500 Return 1% -20% 71%
Trefis Multi-Strategy Portfolio 3% -21% 214%
[1] Month-to-date and year-to-date as of 7/19/2022
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Although we expect Boston Scientific to post in-line results in Q2, our forecast indicates that BSX stock is undervalued at its current levels, as discussed below. (3) BSX stock appears to be undervalued We estimate Boston Scientific’s Valuation to be $47 per share, which is 27% above the current market price of $37. With inflation rising and the Fed raising interest rates, among other factors, BSX stock has fallen 14% this year. | Although we expect Boston Scientific to post in-line results in Q2, our forecast indicates that BSX stock is undervalued at its current levels, as discussed below. (1) Revenues expected to align with the consensus estimates Trefis estimates Boston Scientific’s Q2 2022 revenues to be around $3.2 billion, in-line with the consensus estimates. (2) EPS is likely to be in line with the consensus estimates Boston Scientific’s Q2 2022 adjusted earnings per share (EPS) is expected to be $0.43 per Trefis analysis, aligning with the consensus estimate. | (1) Revenues expected to align with the consensus estimates Trefis estimates Boston Scientific’s Q2 2022 revenues to be around $3.2 billion, in-line with the consensus estimates. (2) EPS is likely to be in line with the consensus estimates Boston Scientific’s Q2 2022 adjusted earnings per share (EPS) is expected to be $0.43 per Trefis analysis, aligning with the consensus estimate. Total [2] BSX Return 0% -12% 72% S&P 500 Return 1% -20% 71% Trefis Multi-Strategy Portfolio 3% -21% 214% [1] Month-to-date and year-to-date as of 7/19/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A rise in the number of elective surgeries performed will likely aid the company’s top-line growth. Furthermore, higher inflation may weigh on the company’s operating margins. (3) BSX stock appears to be undervalued We estimate Boston Scientific’s Valuation to be $47 per share, which is 27% above the current market price of $37. |
31507.0 | 2022-07-20 00:00:00 UTC | Abbott's (ABT) Q2 Earnings Top Estimates, '22 EPS View Up | ABT | https://www.nasdaq.com/articles/abbotts-abt-q2-earnings-top-estimates-22-eps-view-up | nan | nan | Abbott Laboratories ABT reported second-quarter 2022 adjusted earnings of $1.43 per share, which exceeded the Zacks Consensus Estimate by 31.2%. The adjusted figure also improved 22.2% from the prior-year quarter’s levels.
The quarter’s adjustments include certain non-recurring intangible amortization expenses and other expenses primarily associated with restructuring actions, acquisitions and other expenses.
GAAP EPS came in at $1.14, surging 72.7% year on year.
Second-quarter worldwide sales of $11.26 billion were up 10.1% year over year on a reported basis. The top line exceeded the Zacks Consensus Estimate by 8.7%.
On an organic basis (excluding the impact of foreign exchange), sales improved 14.3% year over year in the reported quarter.
Quarter in Detail
Abbott operates through four segments — Established Pharmaceuticals, Medical Devices, Nutrition, and Diagnostics.
In the second quarter, Established Pharmaceuticals sales improved 3.7% on a reported basis (up 9.2% on an organic basis) to $1.22 billion. Organic sales in key emerging markets improved 7.1% year over year. According to Abbott, organic sales improvement was backed by double-digit growth in several geographies and therapeutic areas, including cardiometabolic, respiratory and central nervous system/pain management.
Medical Devices business sales improved 2.5% on a reported basis (up 7.5% on an organic basis) to $3.76 billion. Barring Neuromodulation and Vascular businesses, all other sub-segments in the quarter reported organic revenue growth.
Diabetes Care reported organic growth of 19.4% year over year, led by FreeStyle Libre, which contributed 25.6% to organic sales growth in the reported quarter. Heart Failure sales improved 8.3% organically. Meanwhile, the Rhythm Management business recorded single-digit organic growth of 0.9% in the quarter under review. Electrophysiology and Structural Heart recorded organic growth of 5% and 9.9%, respectively, in the quarter under review.
Abbott Laboratories Price, Consensus and EPS Surprise
Abbott Laboratories price-consensus-eps-surprise-chart | Abbott Laboratories Quote
Nutrition sales were down 7.4% year over year on a reported basis (down 4.5% on an organic basis) to $1.95 billion. Pediatric Nutrition sales registered a 13.4% slump on an organic basis. The downside in both total worldwide Nutrition and Pediatric Nutrition sales can be attributed to a voluntary recall and manufacturing shutdown of certain infant formula products manufactured at one of Abbott's U.S. plants since last February.
Adult Nutrition sales improved 5.2% organically. Per the company, Adult Nutrition sales benefited from improved sales performance of Abbott's complete and balanced nutrition brand, Ensure, and diabetes nutrition brand, Glucerna.
Diagnostics sales were up 33.1% year over year on a reported basis (up 36.9% on an organic basis) to $4.32 billion. Core Laboratory Diagnostics sales were down 1.3% organically. Meanwhile, Molecular Diagnostics declined 24.2% on an organic basis. Rapid Diagnostics sales surged 84.6% on an organic basis, whereas Point of Care Diagnostics sales rose 2.4% organically.
Margins
Gross profit for the reported quarter rose 19.9% year over year to $6.32 billion. Gross margin expanded 457 basis points (bps) to 56.2%.
Selling, general and administrative expenses were up 1.1% year over year to $2.76 billion. Research and development expenses rose 4.6% year over year to $684 million.
The company reported an adjusted operating profit of $2.88 billion for the quarter under review. Adjusted operating margin, too, expanded 706 bps to 25.6%.
2022 Guidance
Abbott has raised its 2022 EPS guidance.
Full-year adjusted earnings from continuing operations (excluding specified items of $1.40 per share) are expected to be at least $4.90, up from previous expectation of adjusted EPS of at least $4.70. The current Zacks Consensus Estimate is pegged at $4.81.
Our Take
Abbott exited the second quarter of 2022 with better-than-expected earnings and revenues. The top line benefitted from robust organic sales growth across the company’s core operating segments, barring Nutrition. The company delivered global COVID-19 testing-related sales of $2.3 billion, led by sales of testing products in Rapid Diagnostics. Meanwhile, the Diabetes Care business continued to benefit from the growing sales of its flagship, sensor-based continuous glucose monitoring system, FreeStyle Libre. The company was engaged in several developments related to the FreeStyle Libre throughout the reported quarter. We are particularly upbeat about the receipt of FDA clearance for the company’s FreeStyle Libre 3 system in May 2022.
However, total worldwide Nutrition and Pediatric Nutrition sales continued to be hampered due to the negative repercussions of a voluntary recall of certain powder formulae produced at one of Abbott's U.S. plants. A decline in organic sales in the Neuromodulation and Vascular businesses in the second quarter also raises apprehension.
Zacks Rank and Key Picks
Abbott currently carries a Zacks Rank #3 (Hold).
Here are some medical stocks worth considering as these have the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy), or #3 to post an earnings beat this quarter.
Merck & Co., Inc. MRK has an Earnings ESP of +7.18% and a Zacks Rank of #1. The company will release second-quarter 2022 results on Jul 28. You can see the complete list of today’s Zacks #1 Rank stocks here.
Merck has a long-term earnings growth rate of 10.1%. MRK’s earnings yield of 7.93% compares with the industry’s 7.91%.
Alcon Inc. ALC has an Earnings ESP of +5.07% and a Zacks Rank of #2. Alcon is expected to release second-quarter 2022 results on Aug 16.
Alcon's long-term earnings growth rate is estimated at 14.3%. ALC’s earnings yield of 3.33% compares with the industry’s (8.43%).
BrainsWay Ltd. BWAY currently has an Earnings ESP of +33.33% and a Zacks Rank of #2. BrainsWay is expected to release second-quarter fiscal 2022 results on Aug 10.
BrainsWay’s 2023 earnings growth rate is estimated to be 16.7%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories ABT reported second-quarter 2022 adjusted earnings of $1.43 per share, which exceeded the Zacks Consensus Estimate by 31.2%. Abbott Laboratories (ABT): Free Stock Analysis Report According to Abbott, organic sales improvement was backed by double-digit growth in several geographies and therapeutic areas, including cardiometabolic, respiratory and central nervous system/pain management. | Abbott Laboratories ABT reported second-quarter 2022 adjusted earnings of $1.43 per share, which exceeded the Zacks Consensus Estimate by 31.2%. Abbott Laboratories (ABT): Free Stock Analysis Report Diabetes Care reported organic growth of 19.4% year over year, led by FreeStyle Libre, which contributed 25.6% to organic sales growth in the reported quarter. | Abbott Laboratories ABT reported second-quarter 2022 adjusted earnings of $1.43 per share, which exceeded the Zacks Consensus Estimate by 31.2%. Abbott Laboratories (ABT): Free Stock Analysis Report Diabetes Care reported organic growth of 19.4% year over year, led by FreeStyle Libre, which contributed 25.6% to organic sales growth in the reported quarter. | Abbott Laboratories ABT reported second-quarter 2022 adjusted earnings of $1.43 per share, which exceeded the Zacks Consensus Estimate by 31.2%. Abbott Laboratories (ABT): Free Stock Analysis Report Diabetes Care reported organic growth of 19.4% year over year, led by FreeStyle Libre, which contributed 25.6% to organic sales growth in the reported quarter. |
31508.0 | 2022-07-20 00:00:00 UTC | Abbott Laboratories (ABT) Q2 2022 Earnings Call Transcript | ABT | https://www.nasdaq.com/articles/abbott-laboratories-abt-q2-2022-earnings-call-transcript | nan | nan | Image source: The Motley Fool.
Abbott Laboratories (NYSE: ABT)
Q2 2022 Earnings Call
Jul 20, 2022, 9:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning, and thank you for standing by. Welcome to Abbott second quarter 2022earnings conference call [Operator instructions] This call is being recorded by Abbott. With the exception of any participant's questions asked during the question-and-answer session, the entire call, including the question-and-answer session, is material copyrighted by Abbott.
It cannot be recorded or rebroadcast without Abbott's expressed written permission. I would now like to introduce Mr. Scott Leinenweber, vice president, investor relations, licensing, and acquisitions.
Scott Leinenweber -- Vice President of Investor Relations, Licensing, and Acquisition
Good morning, and thank you for joining us. With me today are Robert Ford, chairman and chief executive officer; and Bob Funck, executive vice president, finance, and chief financial officer. Robert and Bob will provide opening remarks. Following their comments, we'll take your questions.
Before we get started, some statements made today may be forward-looking for purposes of the Private Securities Litigation Reform Act of 1995, including the expected financial results for 2022. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological, and other factors that may affect Abbott's operations are discussed in Item 1A, Risk Factors, to our annual report on Form 10-K for the year ended December 31, 2021. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.
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On today's conference call, as in the past, non-GAAP financial measures will be used to help investors understand Abbott's ongoing business performance. These non-GAAP financial measures are reconciled with comparable GAAP financial measures in our earnings news release and regulatory filings from today, which are available on our website at abbott.com. Note that Abbott has not provided the GAAP financial measure for organic sales growth on a forward-looking basis because the company is unable to predict future changes in foreign exchange rates, which could impact reported sales growth. Unless otherwise noted, our commentary on sales growth refers to organic sales growth, which excludes the impact of foreign exchange.
With that, I will now turn the call over to Robert.
Robert Ford -- Chairman and Chief Executive Officer
Thanks, Scott. Good morning, everyone, and thank you for joining us. Today, we reported results of another strong quarter. Earnings per share were $1.43, reflecting more than 20% growth compared to last year.
Sales increased nearly 14.5% on an organic basis in the quarter led by growth in established pharmaceuticals, diagnostics, and medical devices. Based on our performance for the first six months, we increased our earnings per share guidance to at least $4.90 for the full year. This speaks to the strength and resilience of our diversified healthcare model as well as strong execution in this challenging macro environment. We continue to advance our R&D pipeline and strengthen our long-term growth platforms with several new product approvals.
Our supply chain has remained resilient, and our financial health remains strong. I'll now summarize our second quarter results in more detail before turning the call over to Bob, and I'll start with established pharmaceuticals, or EPD, where sales increased more than 9% in the quarter. Strong performance this quarter was led by double-digit growth across several countries, including China, Brazil, Colombia, Mexico, and Vietnam. EPD continues to execute and perform at a very high level in a dynamic environment, achieving double-digit organic sales growth over the past year and a half, including more than 11% organic growth for the first half of this year.
Moving to diagnostics, where sales grew over 35% in the quarter. COVID test sales were $2.3 billion in the quarter, more than 95% of which came from rapid tests, including BinaxNOW in the U.S., Panbio internationally, and ID NOW globally. As we had predicted some time ago, rapid testing has become widely accepted and has proven to be a very important tool in combating the virus due to its affordability and accessibility, including at-home testing. And while vaccines have been shown to play an important role in reducing severity of outcomes, with the emergence of new variants that escape immunity, rapid tests have become the best tool we have to help people quickly and easily identify new cases and quarantine to help slow and prevent transmission.
As you know, forecasting COVID testing demand beyond the near term has been challenging. As such, our forecast for the next few months contemplates a modest approaching endemic-like amount of testing sales. We are in regular discussions with governments around the world, including the U.S., for surveillance testing needs and to ensure capacity is available and ready, if we see another surge this winter. If that were to happen, we have a lot of manufacturing capacity in the U.S.
and internationally to help meet testing needs. I'll now turn to Nutrition, where, as you know, we initiated a voluntary recall in February of certain infant formula products manufactured at one of our U.S. facilities. Earlier this month, we resumed partial production at that facility, starting with our specialty formula EleCare and metabolic formulas.
We are in the final phases of testing to restart Similac production. As a reminder, once we begin production, it takes several weeks for product to reach store shelves. That said, we will do everything possible to accelerate delivery of product to retailers, so families can have access to the formula they need as soon as possible. We've already started to see some share recovery at retail over the past couple of months, as we leveraged our global manufacturing network to increase supply to the U.S., including importing product from our FDA registered plant in Ireland.
We also began importing product from Spain after receiving informed discretion from the FDA that expanded the allowance for imports. As I said in April, it's important to note that the results of the investigation from the FDA, CDC, and Abbott concluded no evidence linked our formulas to any infant illnesses or deaths, and there is no new information to suggest otherwise. We take this matter very seriously, and we're making a number of enhancements to our operations at the impacted manufacturing plant. We're also taking steps across our manufacturing network to expand capacity and redundancy.
We're committed to set the standard in industry on quality and safety and to reearn the trust of the families that depend on us. Across our broader Nutrition business, global sales in adult nutrition increased 5% in the quarter, including more than 7.5% growth internationally led by our market-leading Ensure and Glucerna brands. And lastly, I'll wrap up with medical devices, where sales grew 7.5% in the quarter. In cardiovascular devices, sales growth was led by structural heart and heart failure.
While cardiovascular procedure trends continued to improve, growth in the quarter was somewhat more modest than what we had anticipated back in April due to several factors, most notably healthcare staffing challenges, COVID surges, and lockdowns in China that were implemented as part of their efforts to control the spread of the virus. We expect these dynamics to improve in the second half of the year. In diabetes care, sales of FreeStyle Libre grew more than 25% on an organic basis in the quarter, and our user base now exceeds 4 million users globally. During the quarter, we continued to strengthen our Medical Device portfolio with innovative new products, most notably U.S.
FDA clearance of our FreeStyle Libre 3 continuous glucose monitoring system, which is the world's smallest and thinnest wearable glucose sensor that provides results with the highest level of accuracy in the industry. And U.S. approval of Aveir, our leadless pacemaker for the management of slow heart rhythms, Aveir was specifically designed to be retrievable if the device ever needs to be removed and expandable to a dual-chamber device, which is currently under development if the therapy needs to evolve over time. So in summary, our diversified healthcare model continues to prove highly resilient in a dynamic macro environment.
We're achieving strong growth across several areas of the portfolio and making good progress restarting our nutrition manufacturing facility. And as a result of our strong performance through the first six months, we're raising our EPS guidance for the year. I'll now turn over the call to Bob. Bob?
Bob Funck -- Executive Vice President, Finance, and Chief Financial Officer
Thanks, Robert. As Scott mentioned earlier, please note that all references to sales growth rates, unless otherwise noted, are on an organic basis, which excludes the impact of foreign exchange. Turning to our results. Sales for the second quarter increased 14.3% on an organic basis, which was led by strong growth in diagnostics, established pharmaceuticals, and medical devices, along with global COVID testing-related sales of $2.3 billion in the quarter.
During the second quarter, sales were negatively impacted by a voluntary recall and manufacturing shutdown in February of certain infant formula products manufactured at one of our U.S. plants. Excluding COVID testing-related sales and the U.S. sales associated with the recalled products, Abbott sales increased 6.2% on an organic basis in the second quarter.
Foreign exchange had an unfavorable year-over-year impact of 4.2% on second-quarter sales. During the quarter, we saw the U.S. dollar continue to strengthen versus several currencies, which resulted in a more unfavorable impact on sales compared to exchange rates at the time of ourearnings callin April. Regarding other aspects of the P&L, the adjusted gross margin ratio was 56.7% of sales, which reflects the impacts of the recent nutrition recall and incremental inflation we saw in certain manufacturing and distribution costs in the quarter.
Adjusted R&D investment was 5.8% of sales, and adjusted SG&A investment was 24.4% of sales in the second quarter. Lastly, our second quarter adjusted tax rate was 14.5%. Turning to our outlook for the full year 2022. We forecast total company organic sales growth, excluding the impact of COVID testing-related sales, to be in the mid- to high single digits.
It is important to note, excluding products impacted by the nutrition recall, we forecast total organic sales growth in the high single digits for the remainder of our combined businesses, which includes medical devices, established pharmaceuticals, diagnostics, excluding COVID testing-related sales and areas of nutrition not impacted by the recall. We forecast COVID testing-related sales of $6.1 billion, which includes year-to-date sales through June of $5.6 billion and projected sales of approximately $500 million over the next few months. We will continue to update our COVID testing-related sales forecast one quarter at a time as appropriate. Lastly, based on current rates, we would now expect exchange to have an unfavorable impact of approximately 5% on our full-year reported sales.
With that, we'll now open the call for questions.
Questions & Answers:
Operator
[Operator instructions] And our first question will come from Robbie Marcus from J.P. Morgan. Your line is now open.
Robbie Marcus -- J.P. Morgan -- Analyst
Great. Thanks for taking the question, and congrats on a good quarter. Robert, maybe to start -- maybe I'll get a little greedy here since we're only sitting in July, and half of '22 is done. But I think the focus for investors is quickly shifting to next year, and there's a lot of moving pieces going on in 2022, a lot of assumptions we have to make in the go forward of 2023.
Where is COVID testing? How fast does Nutrition come back? And how steady can the Device business be going forward? So there's a lot of uncertainty out there of where numbers should sit and how to start thinking about the business for next year. Any thoughts you have at this point would be really helpful.
Robert Ford -- Chairman and Chief Executive Officer
Sure. Well, I think there's a lot of uncertainty for everybody regarding 2023. I think you've kind of highlighted some of the aspects as it relates to our business here. But the macro environment still is pretty challenging, and I don't think it's unique to us.
Obviously, there's significant inflation, and seems like there's a pretty significant, call it, a commodity super cycle for us. There's healthcare staffing challenges, you hear about that. And then, obviously, a strong U.S. dollar.
So all those kind of combinations are the challenges that a lot of companies are going to face. And if you look at a lot of the financial and consumer indicators, retail, housing, auto, etc., those tend to point toward an increased risk here of recession. So what I would say is, historically, in that macro environment, healthcare has proven to be pretty resilient. And whether it's the durability of these essential procedures and products, I mean, you can only defer them somewhat.
A large portion of the healthcare spend is government-funded, and we've got a diversified model that's proved itself to be very resilient in this kind of environment. So at a macro level, I think those are the headwinds that we're all facing and we'll all be facing. You mentioned COVID as a factor here. It's interesting.
Last year at this time, we were talking about how COVID would -- COVID testing would move away, but we've actually shipped just as an amount of tests in the first six months of this year compared to all of last year. So I think that we're going to need to see how the cases evolve, Robbie, especially during the winter and fall months over here. And obviously, I don't think it's prudent to forecast a winter surge. But like I said, we've got capacity to be able to deal with that.
So those are some of the key factors here that we're looking at. Nutrition that you mentioned, we're recovering pretty nicely, I would say, versus where we originally thought we were going to be back in April. A lot of focus on restarting the manufacturing site. We've recovered already a good portion of the share that we lost.
And obviously, we continue to see that moving forward positively. So on the flip side, though, what I would say is that we're not going to just sit still over the next couple of months and wait for these macro kind of factors here to play out, right? We're taking a very proactive approach on the elements that we can control and that we can impact. We're taking price where we can, and we've seen that in our consumer base businesses. These are businesses, because of the strength of our brands, that we've been able to do that and pass it on.
We're also looking at other areas that we can -- or that historically, we haven't necessarily looked at in terms of price. We're looking at our cost structure. I talked about this in previous calls, too, and we've got a program in place now where we're looking at our cost structure. The hurdles in terms of investment have obviously increased given this macro environment.
We're not going to put any risk to our long-term growth platforms, but we're definitely looking at our cost structure and see where we can improve. And the inventory is important, as we move into this inflationary period here. So we're ensuring that we've got the right amount of inventory. So I put all that together, Robbie.
We've got macro headwinds that everybody else has. Regarding nutrition, I think our performance is well aligned to where we planned and where I see us ending up end of the year is ultimately where our forecast -- the forecast that we laid out. COVID testing is one that, to simply assume, that there won't be any COVID testing next year. We've never believed that.
The question is just your ability to forecast beyond three to six months, that's the challenge. So fundamentally, I think our business remains very strong. We've got leading positions in attractive long-term growth markets, strong pipeline, and I'm sure we'll talk about some of that today also. We've got a lot of ongoing, upcoming launch activity and a strong balance sheet that provides us a lot of strategic and financial flexibility.
So it's difficult to pin a number on it right now, Robbie. But at a high level, those are the elements that we're working with and, ultimately, like to see some of these elements play out over the next couple of months here.
Robbie Marcus -- J.P. Morgan -- Analyst
Great. Maybe just as a follow-up to that, Robert. You were talking about the cost structure at Abbott, and this is something we're hearing from basically everyone, that inflation, supply chain, etc. You're in this enviable position where you've probably grown operating margins more than anyone else in medtech since the start of COVID.
A lot of that has been from the benefit of COVID testing sales, which are at healthy margins and still healthy reinvestment against that. So as we think about your operating margins going forward and you reevaluating your cost base here, I just -- it's a difficult question and it's been a while for medtech investors to see anything but just margins going straight up. So how do you want investors to start thinking about where your base operating margin is maybe potentially of COVID testing sales slowdown in the future?
Robert Ford -- Chairman and Chief Executive Officer
Yes. I always appreciate you like to get at the next year's number in a couple of different ways, Robbie. I guess, I would say on the cost structure piece, I don't necessarily fully agree with you, the way you characterized it in terms of COVID being the ultimate driver here. I think we made a lot of progress on our gross margins historically, whether it was in devices and in nutrition.
So as the device business continues to grow, that profile of that business is accretive, and you've seen our growth rates in that business over these last couple of years. So that helps the margin. Our biggest challenge, I would say, from a gross margin perspective is really on the inflation side. Yes, we're seeing input cost go up probably more on the commodity side, so impacting EPD, impacting nutrition, less so, I would say, in devices and diagnostics.
Yes, there's some noise that happens here with one supplier -- another supplier, and we deal with it. But the real challenge we've had, I would say, over the last kind of six months here has been on the nutrition side. And part of that is -- some of it is commodities. So we're going to have to see how those look like over the next kind of couple of months, seeing some slowing down of some commodities, but that's the biggest kind of driver there.
But the other part of the Nutrition is, I would say, cost that I don't anticipate to be there next year. So for example, we're paying WIC rebates for competitive products since April -- actually, since March when we initiated the recall. And as we restart production in the facility, I don't assume that that will continue. I made statements in my opening comments about bringing product in from overseas.
We brought a lot of formula from overseas, and that's all airfreight. And you know the story on freight and distribution. So once that facility starts up and running, I don't anticipate to see those same kind of freight expenses from overseas shipments. And we put some money toward brand recovery.
And I think that that was an investment that's necessary to get our share back in position that we need as we go into next year. So that being said, as I said, we're going to look at our cost structure. We're going to look at areas that have a higher hurdle now for passing an investment hypothesis or thesis, and we're going to -- we'll take action where we need to take action. So that's how I'd characterize our margin.
Robbie Marcus -- J.P. Morgan -- Analyst
Great. Appreciate the thoughts. Thanks a lot.
Operator
And our next question comes from Joshua Jennings from Cowen. Your line is now open, sir.
Joshua Jennings -- Cowen and Company -- Analyst
Hi. Good morning. Thanks for taking the questions. I was hoping to start with a follow-up on the raise of the 2022 EPS guidance floor and just better understand the puts and takes.
I think there are some questions around the $0.30 beat in 2Q and the $0.20 increase, again, realizing that it is a floor. But it seems like a lot of that kind of guess $0.10 delta is driven by the move in the U.S. dollar in July. But just wanted to better understand the puts and takes and how you guys arrived at the increase that you did.
I have one follow-up.
Robert Ford -- Chairman and Chief Executive Officer
Sure. Yes. I think you'll see -- I mean, we've seen a lot of companies kind of beat their Q2 and either maintain their guidance for the full year or actually reduce it. And we looked at our numbers very carefully, and we basically looked at the strength of our base business.
So if you exclude AN, our nutrition -- the parts of the Nutrition business that was recalled, we're growing high single digits, and we continue to see that kind of growth rate going forward. So between the strength of the base business and the COVID sales, we then felt that we had enough power here to navigate and push through some of these macro headwinds that are pretty significant, right? Inflation is a big element there. We had some costs. When we gave initial guidance in January, we increased that in our April call.
And we've assumed another couple of hundred million dollars of inflation since that number that we provided in April. So that's one element that we're absorbing, I guess. The, what I would call, healthcare staffing challenges, COVID cancellations, the lockdown issues that we saw in Q2, especially, I'd say, on our Core Lab business and EP in China, for example, those are being absorbed also. And then currency, as you referenced, pretty dramatic strengthening here of the U.S.
dollar. So we've assumed all of that. And as I said also to Robbie, we've had to factor in some additional costs on the nutrition side, whether it's the WIC rebate, the freight, and distribution, some of the investments we're making to support share recovery. So you put those two together -- those two elements together on the macro on nutrition side and then you offset that with our base business and COVID sales, and those -- that's really the element there, Josh.
And as you said, since the beginning of the pandemic, we've gotten to at least floor-like guidance here, and that's what $4.90 is. It's a floor right now. Could that be better? Yes, it could. There could be elements that could make that number be better.
But on top of absorbing all these incremental headwinds here, inflation, currency, making some of the investments we need on nutrition, we're still able to raise our full-year guidance.
Joshua Jennings -- Cowen and Company -- Analyst
And just one follow-up on the Medical Devices business, and it's encouraging to hear you talk about kind of quick improvement in the back half, and you did have that tough comp in 2Q. But are you able to share any high-level color just on elective procedure trends throughout the quarter in 2Q, just a month-over-month improvement did you see? And then anything you can share on color in July? And just wondering, you caught a couple of the headwinds that you saw in 2Q for hospitals and the challenges that they're facing to accelerate elective procedure volumes in the second half. But what do you think the biggest challenge is? And do you think the hospitals are well equipped to overcome those?
Robert Ford -- Chairman and Chief Executive Officer
Yes, sure. I think you mentioned there, I mean, Q2 last year was a pretty significant revenue for a lot in medtech, so there is that comp aspect there. But second-quarter procedures and volumes, if I look at Abbott's procedure volumes and sales, they're actually higher than pre-pandemic levels. And there was sequential growth from Q2 to Q1, over 7% in the U.S.
and a little bit lower internationally. So the aspect here is that we are seeing growth and -- but it was a little bit more modest than what we had anticipated back in April, right? And then I think there's really three factors there. One of them, as I said, in the U.S., specifically, I think the staffing challenges were a factor there. And as people tested positive, while they didn't have to go to the hospital and they could just stay at home, that had an impact in some of the procedures that there's a little bit more planning toward.
So the good news is we know what those procedures are, we know where they are, and we've got an opportunity to follow up on them like we did last year and following up on all the procedures that got pushed out. So internationally, I think you saw some similar headwinds there, but I think the biggest headwind for us was China and the lockdowns that occurred there. And then the third factor for us was we had some back order and that was really due to the timing of input material availability. So in terms of when you receive the materials to build the product, now we are building inventory, and I don't anticipate that to be the case going forward in the second half.
So those are really our fact -- those are really the facts that had our Device business a little bit more modest than what we predicted in April. I think those get better. One, we've got launch activity. So -- and I'm sure we'll talk about some of those also, products that we've launched that will gain in momentum in the second half.
In talking to a lot of the U.S. systems, they've just got to figure out better how to staff and to do more planning, and that might involve maybe looking at having more procedures booked because you know that there's a certain amount of cancellations that will happen. So I think that will get better also as the hospitals understand these dynamics. So I'm excited about the device portfolio in terms of the second half, not only because of some of these issues, which I think will get better, but also because of our pipeline and the products we're launching and the execution.
Joshua Jennings -- Cowen and Company -- Analyst
Great. Thanks again.
Operator
And our next question will come from Larry Biegelsen from Wells Fargo. Your line is now open.
Larry Biegelsen -- Wells Fargo Securities -- Analyst
Robert, can you hear me OK?
Robert Ford -- Chairman and Chief Executive Officer
Yes, I can, Larry.
Larry Biegelsen -- Wells Fargo Securities -- Analyst
You'd cut out a little bit. So two for me, I wanted to start with Libre. Robert, just a multipart question here on Libre. Another nice quarter.
Any -- how should we think about the Libre 3 launch in the U.S.? Should we expect it to be kind of a gradual rollout like we saw with Libre 2? And how are you feeling about resolving the vitamin C interaction issue? It sounds like you guys have made some good progress there. And just lastly, international was a little softer than we expected. Is this just kind of a law of large numbers? Or is this just a timing issue in terms of the full rollout of Libre 3? And I did have one follow-up.
Robert Ford -- Chairman and Chief Executive Officer
Sure. I think Libre 3, we're very excited. We've had very good success in Germany in terms of upgrading the base and then with the benefits of Libre 3 actually seeing some conversions from competitive systems. So the U.S.
launch is going to be exciting for the U.S. team. It will be the only CGM with a sub-8% MARD. And that launch process is underway, but it is a little bit more gradual.
So we're going to work to get on to pharmacy contracts, PBM contracts, managed care contracts, etc. So we're building inventory. We're familiarizing the physicians with the product. But given what I've seen in Europe, I think this is a great opportunity for our U.S.
business, which, by the way, did really well this quarter, right, even without Libre 3. We grew 53% in the second quarter, and I actually think that we can maintain that 30% to 40% growth rate in the U.S. even without Libre 3. So I think that's going to be an important growth driver for us toward the end of the year and as we go into 2023.
I do think, Larry, that CGM is a little different. I mean, we have it in devices, but the model, at least in the U.S., is very pharma-like and -- where patient out-of-pocket, coinsurance, co-pays, contracts, etc., they play a big role in understanding those, and the interdependencies of those are very important. I think in an environment where employers and consumers are going to be looking more closely at managing their expenses, I think the value proposition of Libre is going to be even stronger. Regarding your question on vitamin C, fixed, yes.
We have done the work to be able to address that. We've made very good progress. I'm going to provide further updates over time. But obviously, this relates only to the U.S.
We're actually going to be launching an AID system in Europe with our partners in Europe in Q4 with Libre 2. So -- but you'll get more updates on that. I think that the exciting piece on the pump connectivity, though, is what we announced in June at the ADA with a dual sensor, a glucose-ketone sensor that's under development, that's received breakthrough designation from the FDA. The scientific advisors that I've spoken to, both in the U.S.
and international, believe that this is going to become the go-to sensor for pump connectivity and -- just because of the ability to bring in the ketone measurement and perfect even more of those algorithms. So I think this is going to be an ideal sensor for existing pump companies and even for new pump manufacturers. Regarding your question on international, there's a little bit of timing there, I would say. Well, it's two parts, a little bit of timing from -- in Germany as we convert to Libre 3 and the mechanism is in place there.
And then there was some FX headwind that impacted a lot of our international businesses. So did that cover all for you, Larry?
Larry Biegelsen -- Wells Fargo Securities -- Analyst
That was very comprehensive. Really appreciate it. Just for my follow-up, Robert, I know I've asked this a lot on recent calls, but you're sitting on a lot of cash. And we have seen a recent rerating of valuations.
So are you starting to see more opportunities? Any color on deal size that you're looking at? And I think some investors are saying, when COVID testing comes down, you might have a gap in terms of earnings that you need to fill. So how important is it to find an accretive deal to offset potential decline in COVID testing?
Robert Ford -- Chairman and Chief Executive Officer
Well, on the COVID testing side, I mean, I guess, we'll have to kind of see how things play out right now. I mean, I guess, that was the same comment last year. And as I said, we're selling more. We're probably selling more what we sold more in the first six months here versus last year.
So regarding your comment, though, on the M&A side, yes, I don't think anything has really changed there. I mean, obviously, valuations have obviously come down somewhat. And we've got the capacity, as you said, in our balance sheet and that flexibility. But the macro environment is -- just because the valuation has come down, I mean, it's challenging and dynamic for all the companies, even the ones that have seen these valuations come significantly down.
So I think we -- while we do have cash, I still think we need to be strategically and financially disciplined here to be mindful of when we're assessing these potential targets and have they gotten to the right point given some of these macro environments that are going to be playing out. So I think the market needs to stabilize for a period of time here, Larry, before I think a lot of management teams and their board to become a little more comfortable with the reset of their valuations and their financial outlook. That being said, yes, I'd say the level of study, the level of review, the level of analysis on potential targets has definitely increased over the past four, five months here. And I've been clear about the areas that we're looking at and the kind of types of transactions we would be interested of, but it always goes back to does it make sense strategically and does it make sense financially.
So nothing has changed yet.
Larry Biegelsen -- Wells Fargo Securities -- Analyst
Thanks for that. Thanks for taking the questions.
Operator
And our next question will come from Joanne Wuensch from Citi. Your line is now open.
Joanne Wuensch -- Citi -- Analyst
Good morning, and thank you for taking the questions. I'm going to put them all upfront. Some questions regarding your structural heart franchise. Could you give us sort of a state of the union or update on where you are on some key products, MitraClip, Portico, and Amulet? And then just as a follow-up to the previous question, could you remind us where you are on share repurchases and your view toward if you're not using the cash for M&A, what you will be using the cash for?
Robert Ford -- Chairman and Chief Executive Officer
Sure. On the structural heart side, I talked about how this is such an important division for us and the focus that we've had there. So I'd say on Amulet, we've had a very good quarter in Amulet aligned to the trends that we were hoping for. We've got an expansion of the amount of accounts that are using the product and also an expansion on the amount of implanters that are completing and performing this procedure.
One of the challenges we had in the beginning was just really to get the implanters trained. We needed proctors. And as you remember, in November, December, January, and February, there was a lot of challenge with travel. So that's actually looking really nice in terms of the ramp there.
What I'm very encouraged about is the traction we're seeing from the early adopters. So some of those that began the training and implanting in Q4 of last year, their utilization is more than double that of the average user. So we're seeing both things in terms of driving the sales there, the increase of new accounts and then the increase in productivity and utilization of the existing implanters. On the Portico side or on the TAVR side, sales have been strong, especially in Europe where we've introduced Navitor, which is our next-generation TAVR system.
It's a competitive device from a clinical profile in high-risk patients. I estimate right now -- we estimate right now that we're about a high single digit. But when we look at the centers that are using Navitor, and Navitor is probably in about 40%, 45% of the centers in Europe, shares in the mid-teens. And that's very encouraging also because Navitor being our second product has really been an improvement for Portico.
And as you know, we filed that in the U.S. in October of last year at the PMA. I expect that to be the case. I expect to see an approval and an opportunity for us to launch into the TAVR market here in the U.S.
And on MitraClip, this was a tough comp for us this quarter. Last quarter -- last year, it was the highest quarter we've ever had in terms of procedures, in terms of sales. So there's no doubt that this one here is probably a little bit more impacted by COVID and some of the healthcare staffing challenges and the rescheduling of the procedures. So I expect these dynamics to steadily improve over time.
And as I said previously, I don't think we fully benefited yet from the indication expansion that we received for the functional MR. So the market still remains pretty underpenetrated, and there's a lot of opportunity for growth there. So a lot of activity in our structural heart business, a lot of good performance. And I just expect that to get better over the next couple of quarters.
And then what was your other question?
Joanne Wuensch -- Citi -- Analyst
It had to do on share repurchases, use of cash if you're not using it for M&A.
Robert Ford -- Chairman and Chief Executive Officer
Sure. Well, listen, we've always kind of had a balanced approach for deploying our cash. We're mindful of our cash on hand. We're investing in the dividend, and we've been growing that dividend, and that's an important part of it.
We're investing in the capacity expansions in several of our areas, Libre, electrophysiology, MitraClip, nutrition. And we bought back shares in the first half of the year and something that we'll continue to assess as we go through the second half year. So the approach toward our capital allocation is pretty balanced, and we're committed to the dividend. Done some share buybacks in the first half.
We'll continue to assess in the second half. And there's great opportunities for us to continue to invest organically to be able to drive the organic part of the business.
Operator
Our next question will come from Vijay Kumar from Evercore ISI. Your line is open.
Vijay Kumar -- Evercore ISI -- Analyst
Hi, Bob. Thanks for taking my question. Congrats on a strong 2Q here. One on this guidance here, when you look at the base floor for fiscal '22, $4.90, you guys did close to $3.15 of earnings in first half, so the implied earnings for back half was -- the floor is $1.74.
That's annualizing to about $3.50-ish. Is there -- I guess, that $1.74-ish for back half, that's below the back half of 2019. So I'm wondering, between FX, inflation, is there something else that's going on here where -- we still have COVID revenues flowing through in the back half? It seems a little light on the EPS guidance.
Bob Funck -- Executive Vice President, Finance, and Chief Financial Officer
Vijay, this is Bob, I'll take that call -- question. I think it's -- I think using an implied kind of fourth quarter exit rate as an indicator kind of how we're thinking about '23 probably wouldn't be prudent at this point. There's obviously a lot going on in the macro environment that warrants further monitoring and assessment. And on top of that, there are a couple of swing factors that are specific to us.
Strength of our COVID testing business, that's provided us an awful lot of flexibility to reinvest back into our P&L over the last couple of years. And so as part of our -- and as Robert kind of talked about, we'll see kind of how COVID testing plays out. We continue to see very strong demand. And so there's some element of that that we fully expect to stick around.
And it's just difficult to pinpoint what that level is at this point in the year. But as part of our budgeting process for next year, we'll take a close look at the overall cost structure, which Robert touched on, and our investment priorities. And as you know, we're also working through the nutrition recall and making good progress, incrementally investing, and Robert talked about the fact that some of those investments will modulate over time or even go away. And so that, combined with recapturing share, we'll see the earnings power of that business ramp up over time.
So -- and then finally, our pipeline has been highly productive and especially in devices. And as we drive that growth, that's accretive growth overall to the corporation. So those are big moving parts. And as we start to think about 2023, we'll incorporate all those elements and especially in devices.
And as we drive that growth, that's accretive growth overall to the corporation. So those are big moving parts. And as we start to think about 2023, we'll incorporate all those elements in our forecast next year.
Robert Ford -- Chairman and Chief Executive Officer
I guess, I'll just add to that, Vijay, also, I mean, we talk about the strength of the U.S. dollar and the impact that we're having on a full year basis. It's pretty significant, and a big portion of that impact is actually forecasted to happen in the second half of this year. So that also plays a role together with the inflation aspects that we're facing.
So that's really the challenge.
Vijay Kumar -- Evercore ISI -- Analyst
That's helpful. And maybe one last one. With the second half base business guidance mid-single digit to high single digits, if I look at 2Q ex China and ex Nutrition, the base business did north of 7%, which is in line with the high single sort of trajectory that investors have baked in. The back half of mid-single to high single --
Robert Ford -- Chairman and Chief Executive Officer
So like I said, I think we've got an opportunity here on the back half also. We've set a floor. And again, I'll just reiterate that this is where contemplating all these puts and takes that we've been discussing, we feel confident in that floor number. And we believe that there's opportunities here for upside to that.
Scott Leinenweber -- Vice President of Investor Relations, Licensing, and Acquisition
Vijay, I would just say, as Bob said in his prepared remarks, excluding nutrition, we expect high single digits for the kind of remainder of the businesses to your point. So the math you're doing there is right.
Vijay Kumar -- Evercore ISI -- Analyst
That's helpful, Scott. So the guide is assuming some impact here in the back half. That's helpful. Thanks, guys.
Operator
And our next question will come from Travis Steed from Bank of America. Your line is now open.
Travis Steed -- Bank of America Merrill Lynch -- Analyst
Hi. Good morning. Can you hear me OK?
Robert Ford -- Chairman and Chief Executive Officer
Yes.
Travis Steed -- Bank of America Merrill Lynch -- Analyst
Great. Just wanted to ask a couple more on the margin puts and takes, and I know these are related to Robbie's question. You mentioned a lot of like onetime costs in Nutrition with contracts on top of inflation and FX. So just wanted to think about the commitment and ability to grow operating margin off this year's base margins.
If the macro environment just remains stable, I assume most of those nutrition and onetime investments go away later this year as nutrition ramps back up. But I don't know if there's any other levers that you can pull on the margin line. And also not sure about this year's FX headwinds, how much of those naturally carry over into next year? That's something that J&J kind of flagged for people.
Robert Ford -- Chairman and Chief Executive Officer
Yes. Listen, the commitment to grow the operating margin is always there. We've -- we always shoot for that growth. You had a big if there, and that's the big if, right, if the conditions remain the same.
So I don't know what currency is going to look like next year. Bob can talk about that a little bit. But there are some of these costs that I mentioned that I don't anticipate having to fly in the amount formula that we flew in from overseas. I don't anticipate having to kind of pay those WIC rebates on competitive product.
We have, what I would call, a steady investment profile on our Nutrition business that, I would say, we're a little bit out of profile in the next quarter or so because we want to make sure that as products coming back that we can work to regain our share. And we've seen some of that share regain the last couple of months. I mean, from the start of the recall, we lost about half of our IMF share. And of that half that we lost in the last couple of months, we've regained half of that back.
So some of these costs, like I said, are more onetime in nature. On the FX side, I don't know, Bob, do you have a comment on there?
Bob Funck -- Executive Vice President, Finance, and Chief Financial Officer
Well, I guess, I'd say history has taught us that rates rarely if ever hold for a long period of time. So trying to pinpoint kind of an accurate projection for next year at this point is pretty challenging. There's an awful lot of moving parts. As you know, different central banks taking different rate actions, different strengths of economies, etc.
That said, at a high level, based upon kind of where we're at today, a decent portion of the impact we're seeing this year will carry into next year. Obviously, there's a long way to go, so we need to see how things play out. And as part of our planning process, we always look for opportunities to mitigate currency impacts as best we can.
Travis Steed -- Bank of America Merrill Lynch -- Analyst
That's helpful. I do want to make sure I heard you right. It sounds like you're going to launch an AID insulin system in Europe with Libre 2 by Q4. And I don't know if you'd be willing to say who that partner is or what that product might look like in any form or fashion.
Robert Ford -- Chairman and Chief Executive Officer
Yes. I think we made an announcement about the partnership several -- about a month, month and a half ago. So yes, that's with Ypsomed, a local European manufacturer, and another partner. So yes, our target is to be able to launch that by the end of the year in Europe.
Scott Leinenweber -- Vice President of Investor Relations, Licensing, and Acquisition
OK. No. Great. Thanks a lot for the questions.
Operator, we'll take one more question.
Operator
And our last question will come from Jayson Bedford from Raymond James. Your line is now open.
Jayson Bedford -- Raymond James -- Analyst
Hi. Good morning, and thanks for taking the questions. Just a couple. First, on the infant nutrition and the manufacturing ramp here, is there any way to frame where you are today and when you feel like you'll be back to full production levels? And obviously, I'm just thinking in the context of where you were last year and potential profit recapture in this segment.
Robert Ford -- Chairman and Chief Executive Officer
Sure. Well, as I said, we restarted in July 1, and we began production of the specialty formulas. The production of the Similac, which we call our more base formula, I mean, we're very close to that, Jayson, is what I would say. I don't want to necessarily kind of put an exact date here, but we're not talking months, we're not talking weeks.
So we're very close there, and we obviously have a team that's ready to go and to ramp up. We know that we're going to have to work hard to shorten the time between manufacturer and on-shelf availability. So there's a team that's specifically dedicated to working on accelerated that time frame also. So I like where we're at.
And we'll continue to use our global network to be able to augment those efforts of share recapture.
Jayson Bedford -- Raymond James -- Analyst
So, Robert, when we look at '23 for USP, is it -- the debate just around market share, and I'm assuming from a manufacturing standpoint, you should be clean in '23.
Robert Ford -- Chairman and Chief Executive Officer
Yes. That's our expectation. I think the debate on '23 is predominantly market share and then there might be a little bit of market also in terms of understanding how much of the growth in today's market is inventory build. We have seen an increase in birth rates, so that's another opportunity also for -- to maybe to offset that.
So -- but yes, I think it's mostly about market share, market share recovery. And like I said, I think in the previous question, I think we've done pretty well about using our network to be able to regain the market share that we had lost in those first couple of months. So yes, it's really about looking at our share and share recovery, which is why, as I said, we've made some investments during -- over the next three, four, five months here to be able to put us in, in that right position in 2023. So I'll just close the call here.
Obviously, a lot of your questions, so that there is, I guess, some uncertainty in the environment. It's pretty dynamic, and I think that's going to be the same for a lot of companies. For Abbott specifically, our new product launches are performing very well. Our R&D pipeline is strong.
And as I said, our financial health is also strong. We're making progress in nutrition to drive share recovery, and our adult business and international growth opportunities still remain very strong. The cardiovascular portfolio, device portfolio, there is growth. It continues to recover, albeit not at the same level that we had forecasted back in April, but I do expect that same recovery trend.
It's not as leaner as we would like or as what we've historically had. But ultimately, I do believe that the segment will continue to grow and recover. EPD and Libre continue to perform very well. And in diagnostics, I get that COVID testing is a big portion of the equation here.
But I just remind ourselves to where we were last year and what we thought was going to happen last year. And right now, all the data shows that testing is still here. Cases are up. Our test sales are actually up, and our tests have done very well from a brand and become somewhat of a preferred format over here.
So as I look to the second half of the year, I anticipate some of the macro challenges to continue, in some cases, to be tough. And in other cases, hopefully, we'll see some easing on there. But our diversification is very unique, and that's what's held up very well. We're navigating the macro headwinds.
We're investing in our growth platforms. And we've raised our guidance for the full year. And I think that's a rarity in this environment, and I think it speaks to the strength of the portfolio and the execution and our ability to manage and leverage the portfolio. So with that, we'll wrap up, and thank you for joining us today.
Scott Leinenweber -- Vice President of Investor Relations, Licensing, and Acquisition
Thank you, operator, and thank you for all of your questions. This now concludes Abbott's conference call. A webcast replay of this call will be available after 11:00 a.m. Central time today on Abbott's Investor Relations website at abbottinvestor.com.
Thank you for joining us today.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Scott Leinenweber -- Vice President of Investor Relations, Licensing, and Acquisition
Robert Ford -- Chairman and Chief Executive Officer
Bob Funck -- Executive Vice President, Finance, and Chief Financial Officer
Robbie Marcus -- J.P. Morgan -- Analyst
Joshua Jennings -- Cowen and Company -- Analyst
Larry Biegelsen -- Wells Fargo Securities -- Analyst
Joanne Wuensch -- Citi -- Analyst
Vijay Kumar -- Evercore ISI -- Analyst
Travis Steed -- Bank of America Merrill Lynch -- Analyst
Jayson Bedford -- Raymond James -- Analyst
More ABT analysis
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (NYSE: ABT) Q2 2022 Earnings Call Jul 20, 2022, 9:00 a.m. Operator [Operator signoff] Duration: 0 minutes Call participants: Scott Leinenweber -- Vice President of Investor Relations, Licensing, and Acquisition Robert Ford -- Chairman and Chief Executive Officer Bob Funck -- Executive Vice President, Finance, and Chief Financial Officer Robbie Marcus -- J.P. Morgan -- Analyst Joshua Jennings -- Cowen and Company -- Analyst Larry Biegelsen -- Wells Fargo Securities -- Analyst Joanne Wuensch -- Citi -- Analyst Vijay Kumar -- Evercore ISI -- Analyst Travis Steed -- Bank of America Merrill Lynch -- Analyst Jayson Bedford -- Raymond James -- Analyst More ABT analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. We've already started to see some share recovery at retail over the past couple of months, as we leveraged our global manufacturing network to increase supply to the U.S., including importing product from our FDA registered plant in Ireland. | Operator [Operator signoff] Duration: 0 minutes Call participants: Scott Leinenweber -- Vice President of Investor Relations, Licensing, and Acquisition Robert Ford -- Chairman and Chief Executive Officer Bob Funck -- Executive Vice President, Finance, and Chief Financial Officer Robbie Marcus -- J.P. Morgan -- Analyst Joshua Jennings -- Cowen and Company -- Analyst Larry Biegelsen -- Wells Fargo Securities -- Analyst Joanne Wuensch -- Citi -- Analyst Vijay Kumar -- Evercore ISI -- Analyst Travis Steed -- Bank of America Merrill Lynch -- Analyst Jayson Bedford -- Raymond James -- Analyst More ABT analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Abbott Laboratories (NYSE: ABT) Q2 2022 Earnings Call Jul 20, 2022, 9:00 a.m. Note that Abbott has not provided the GAAP financial measure for organic sales growth on a forward-looking basis because the company is unable to predict future changes in foreign exchange rates, which could impact reported sales growth. | Operator [Operator signoff] Duration: 0 minutes Call participants: Scott Leinenweber -- Vice President of Investor Relations, Licensing, and Acquisition Robert Ford -- Chairman and Chief Executive Officer Bob Funck -- Executive Vice President, Finance, and Chief Financial Officer Robbie Marcus -- J.P. Morgan -- Analyst Joshua Jennings -- Cowen and Company -- Analyst Larry Biegelsen -- Wells Fargo Securities -- Analyst Joanne Wuensch -- Citi -- Analyst Vijay Kumar -- Evercore ISI -- Analyst Travis Steed -- Bank of America Merrill Lynch -- Analyst Jayson Bedford -- Raymond James -- Analyst More ABT analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Abbott Laboratories (NYSE: ABT) Q2 2022 Earnings Call Jul 20, 2022, 9:00 a.m. EPD continues to execute and perform at a very high level in a dynamic environment, achieving double-digit organic sales growth over the past year and a half, including more than 11% organic growth for the first half of this year. | Operator [Operator signoff] Duration: 0 minutes Call participants: Scott Leinenweber -- Vice President of Investor Relations, Licensing, and Acquisition Robert Ford -- Chairman and Chief Executive Officer Bob Funck -- Executive Vice President, Finance, and Chief Financial Officer Robbie Marcus -- J.P. Morgan -- Analyst Joshua Jennings -- Cowen and Company -- Analyst Larry Biegelsen -- Wells Fargo Securities -- Analyst Joanne Wuensch -- Citi -- Analyst Vijay Kumar -- Evercore ISI -- Analyst Travis Steed -- Bank of America Merrill Lynch -- Analyst Jayson Bedford -- Raymond James -- Analyst More ABT analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. Abbott Laboratories (NYSE: ABT) Q2 2022 Earnings Call Jul 20, 2022, 9:00 a.m. With that, we'll now open the call for questions. |
31509.0 | 2022-07-20 00:00:00 UTC | Stock Market Today: Dow Jones & S&P 500 Move Green; NFLX Stock Rallies On Earnings | ABT | https://www.nasdaq.com/articles/stock-market-today%3A-dow-jones-sp-500-move-green-nflx-stock-rallies-on-earnings | nan | nan | Stock Market Today Mid-Morning Updates
On Wednesday morning, the Dow Jones Industrial Average recovered by 72 points as of 11:12 am EST. This could be attributed to Netflix (NASDAQ: NFLX) reporting better-than-expected second-quarter earnings results. Earnings this morning from top companies such as Biogen (NASDAQ: BIIB), Abbott Laboratries (NYSE: ABT) and ASML Holding N.V. (NASDAQ: ASML) reported early morning Wednesday, while investors anxiously await Tesla, Inc. (NASDAQ: TSLA) will report after the market closes today.
Shares of BIIB stock moved lower in Wedneday’s trading session. Shares are currently trading at $211.34 a share, down 4.05% on the day. The company beat revenue estimates. They also reported an adjusted profit of $5.25 a share for the quarter. This beat the Street’s consensus estimate of $4.06 per share, following the company reporting better-than-expected quarterly revenue and earnings. While shares of ASML stock are up over 1.42% during Wednesday morning’s trading session. This comes after the firm announced a beat on earnings, but the comapny also cut its revenue guidance.
Among the Dow Jones leaders, shares of Apple (NASDAQ: AAPL) are up by 1.34% today while Microsoft (NASDAQ: MSFT) is also moving higher by 1.21%. Meanwhile, Disney (NYSE: DIS) and Nike (NYSE: NKE) are trading higher on Wednesday. Among the Dow financial leaders, shares of Visa (NYSE: V) slid by 0.34% while Goldman Sachs (NYSE: GS) is also up by a modest 0.41%.
Shares of EV leader Tesla (NASDAQ: TSLA) are up by 0.60% on Wednesday morning. The EV maker is set to report its second quarter earnings after the market closes on Wednesday. Rival EV companies like Rivian (NASDAQ: RIVN) are up by 2.81%. Lucid Group (NASDAQ: LCID) is trading higher by 1.86% on Wednesday. Chinese EV leaders like Nio (NYSE: NIO) and Xpeng Motors (NYSE: XPEV) are both trading mixed today.
Dow Jones Today: U.S. Treasury Yield Drops Slightly Back Under 3%
Following the stock market opening on Wednesday, the S&P 500, Dow, and Nasdaq are trading higher at 0.64%, 0.11%, and 1.51%, respectively. Among exchange-traded funds, the Nasdaq 100 tracker Invesco QQQ Trust (NASDAQ: QQQ) has increased by 1.45% while the SPDR S&P 500 ETF (NYSEARCA: SPY) is also up by 0.76%. The benchmark 10-year U.S. Treasury yield is moving slightly lower on Wednesday to 2.96%. This could potentially end a two-day win streak. In other news, prices of U.S. oil have pulled back, dropping to near 2% during Wednesday morning’s session.
[Read More] Good Stocks To Buy Right Now? 3 Consumer Discretionary Stocks In Focus
Netflix Shares Jump After Reporting Better-Than-Expected Earnings
Late Tuesday, the streaming giant Netflix reported better-than-expected second quarter fiscal earnings. This caused its share price to jump over 4% during Wednesday morning’s trading sesssion at $210.32 a share. In the report, the company showed it earned $3.20 a share, while notching in $7.97 billion in sales for the quarter. This beats Wall Street’s consensus estimates of $2.95 a share, with sales of $8.03 billion. These numbers reflect an 8% year-over-year increase in earnings, while sales increased by 9%.
Furthermore, Netflix reported it lost 970,000 subscribers for the quarter. This contributed to the increase in share price we’re seeing this on Wednesday because just three months ago the company estimated it would lose 2 million subscribers for the quarter. This was due to increased competition in the marketplace, and price increases.
Co-CEO of Netflix Reed Hastings said this in his note to shareholders, “Q2 was better than expected on membership growth, and foreign exchange was worse-than-expected (stronger US dollar), resulting in 9% revenue growth (13% constant currency). Our challenge and opportunity is to accelerate our revenue and membership growth by continuing to improve our product, content, and marketing as we’ve done for the last 25 years, and to better monetize our big audience. We’re in a position of strength given our $30 billion-plus in revenue, $6 billion in operating profit last year, growing free cash flow, and a strong balance sheet.“
Shares of NFLX stock have been beat up pretty bad in the first of this year down 64.59% year-to-date. Given the positivity around this earnings report, could it be enough for you to add NFLX stock to your watchlist?
Source: TD Ameritrade TOS
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earnings this morning from top companies such as Biogen (NASDAQ: BIIB), Abbott Laboratries (NYSE: ABT) and ASML Holding N.V. (NASDAQ: ASML) reported early morning Wednesday, while investors anxiously await Tesla, Inc. (NASDAQ: TSLA) will report after the market closes today. Stock Market Today Mid-Morning Updates On Wednesday morning, the Dow Jones Industrial Average recovered by 72 points as of 11:12 am EST. Our challenge and opportunity is to accelerate our revenue and membership growth by continuing to improve our product, content, and marketing as we’ve done for the last 25 years, and to better monetize our big audience. | Earnings this morning from top companies such as Biogen (NASDAQ: BIIB), Abbott Laboratries (NYSE: ABT) and ASML Holding N.V. (NASDAQ: ASML) reported early morning Wednesday, while investors anxiously await Tesla, Inc. (NASDAQ: TSLA) will report after the market closes today. This could be attributed to Netflix (NASDAQ: NFLX) reporting better-than-expected second-quarter earnings results. This beat the Street’s consensus estimate of $4.06 per share, following the company reporting better-than-expected quarterly revenue and earnings. | Earnings this morning from top companies such as Biogen (NASDAQ: BIIB), Abbott Laboratries (NYSE: ABT) and ASML Holding N.V. (NASDAQ: ASML) reported early morning Wednesday, while investors anxiously await Tesla, Inc. (NASDAQ: TSLA) will report after the market closes today. This beat the Street’s consensus estimate of $4.06 per share, following the company reporting better-than-expected quarterly revenue and earnings. 3 Consumer Discretionary Stocks In Focus Netflix Shares Jump After Reporting Better-Than-Expected Earnings Late Tuesday, the streaming giant Netflix reported better-than-expected second quarter fiscal earnings. | Earnings this morning from top companies such as Biogen (NASDAQ: BIIB), Abbott Laboratries (NYSE: ABT) and ASML Holding N.V. (NASDAQ: ASML) reported early morning Wednesday, while investors anxiously await Tesla, Inc. (NASDAQ: TSLA) will report after the market closes today. They also reported an adjusted profit of $5.25 a share for the quarter. This beat the Street’s consensus estimate of $4.06 per share, following the company reporting better-than-expected quarterly revenue and earnings. |
31510.0 | 2022-07-20 00:00:00 UTC | Pre-Market Gives Back Some Gains; Abbott Beats, Raises | ABT | https://www.nasdaq.com/articles/pre-market-gives-back-some-gains-abbott-beats-raises | nan | nan | Wednesday, July 20, 2022
Pre-market futures are in a giving mood this morning — in particular, giving back some of its gains over the past few sessions. The Nasdaq has closed higher in three of the last four trading days; the last two of three for the Dow and the S&P 500. At this hour, the Dow is -110 points, while the Nasdaq is -20 and the S&P 500 is -15 points. It’s a relatively mild give-back, but it’s also early.
The thing about today, as opposed to pre-market activity over the past week and in the coming days/weeks, is that we have few economic indicators gracing us ahead of the opening bell. Big-name companies like Tesla TSLA, United Airlines UAL and rail giant CSX CSX all report after the close, while Existing Home Sales for June come out after the regular trading session commences.
What’s expected from Existing Home Sales for last month is a continued lowering from cycle lows posted for May: 5.36 million units are expected to have sold in June, well off the 6+ million pace we were averaging for most of the past year. While we always leave room for a one-month surprise in the data, this slow-down does follow other housing sector metrics showing a clear decline in homebuying activity.
It’s this sort of lower economic print, however, that the Fed looks forward to seeing, in that higher interest rates lead to higher mortgage rates, which dissolves some the demand in the market, creating some slack and room for lowering prices. Because home-buying is one of the priciest things an American consumer buys, a lowering of home prices overall would go a long way toward bringing down future inflation prints.
Ahead of today’s open, Abbott Labs ABT reported Q2 earnings which easily outperformed expectations on both top and bottom lines: earnings of $1.43 per share well surpassed the $1.10 Zacks consensus estimate, whereas $11.3 billion in sales crushed expectations by nearly a billion dollars, and well ahead of the $10.2 billion reported in the year-ago quarter.
Business is good for Abbott, with Covid testing sales on the rise as a new variant makes its way through the U.S., not to mention the company’s arthritis drug Humira reportedly being the world’s top-selling drug this year. Abbott even raised full-year earnings guidance slightly, though the stock is trading down more than -3% on the earnings report. Abbott is +5% over the past month, but -21% year to date.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ahead of today’s open, Abbott Labs ABT reported Q2 earnings which easily outperformed expectations on both top and bottom lines: earnings of $1.43 per share well surpassed the $1.10 Zacks consensus estimate, whereas $11.3 billion in sales crushed expectations by nearly a billion dollars, and well ahead of the $10.2 billion reported in the year-ago quarter. Abbott Laboratories (ABT): Free Stock Analysis Report The thing about today, as opposed to pre-market activity over the past week and in the coming days/weeks, is that we have few economic indicators gracing us ahead of the opening bell. | Ahead of today’s open, Abbott Labs ABT reported Q2 earnings which easily outperformed expectations on both top and bottom lines: earnings of $1.43 per share well surpassed the $1.10 Zacks consensus estimate, whereas $11.3 billion in sales crushed expectations by nearly a billion dollars, and well ahead of the $10.2 billion reported in the year-ago quarter. Abbott Laboratories (ABT): Free Stock Analysis Report Big-name companies like Tesla TSLA, United Airlines UAL and rail giant CSX CSX all report after the close, while Existing Home Sales for June come out after the regular trading session commences. | Ahead of today’s open, Abbott Labs ABT reported Q2 earnings which easily outperformed expectations on both top and bottom lines: earnings of $1.43 per share well surpassed the $1.10 Zacks consensus estimate, whereas $11.3 billion in sales crushed expectations by nearly a billion dollars, and well ahead of the $10.2 billion reported in the year-ago quarter. Abbott Laboratories (ABT): Free Stock Analysis Report Big-name companies like Tesla TSLA, United Airlines UAL and rail giant CSX CSX all report after the close, while Existing Home Sales for June come out after the regular trading session commences. | Abbott Laboratories (ABT): Free Stock Analysis Report Ahead of today’s open, Abbott Labs ABT reported Q2 earnings which easily outperformed expectations on both top and bottom lines: earnings of $1.43 per share well surpassed the $1.10 Zacks consensus estimate, whereas $11.3 billion in sales crushed expectations by nearly a billion dollars, and well ahead of the $10.2 billion reported in the year-ago quarter. The Nasdaq has closed higher in three of the last four trading days; the last two of three for the Dow and the S&P 500. |
31511.0 | 2022-07-20 00:00:00 UTC | Earnings Season Gathers Pace, Home Sales Numbers Awaited | ABT | https://www.nasdaq.com/articles/earnings-season-gathers-pace-home-sales-numbers-awaited | nan | nan | Pre-market futures are in a giving mood this morning — in particular, giving back some of its gains over the past few sessions. The Nasdaq has closed higher in three of the last four trading days; the last two of three for the Dow and the S&P 500. At this hour, the Dow is -110 points, while the Nasdaq is -20 and the S&P 500 is -15 points. It’s a relatively mild give-back, but it’s also early.
The thing about today, as opposed to pre-market activity over the past week and in the coming days/weeks, is that we have few economic indicators gracing us ahead of the opening bell. Big-name companies like Tesla TSLA, United Airlines UAL and rail giant CSX CSX all report after the close, while Existing Home Sales for June come out after the regular trading session commences.
What’s expected from Existing Home Sales for last month is a continued lowering from cycle lows posted for May: 5.36 million units are expected to have sold in June, well off the 6+ million pace we were averaging for most of the past year. While we always leave room for a one-month surprise in the data, this slow-down does follow other housing sector metrics showing a clear decline in homebuying activity.
It’s this sort of lower economic print, however, that the Fed looks forward to seeing, in that higher interest rates lead to higher mortgage rates, which dissolves some the demand in the market, creating some slack and room for lowering prices. Because home-buying is one of the priciest things an American consumer buys, a lowering of home prices overall would go a long way toward bringing down future inflation prints.
Ahead of today’s open, Abbott Labs ABT reported Q2 earnings which easily outperformed expectations on both top and bottom lines: earnings of $1.43 per share well surpassed the $1.10 Zacks consensus estimate, whereas $11.3 billion in sales crushed expectations by nearly a billion dollars, and well ahead of the $10.2 billion reported in the year-ago quarter.
Business is good for Abbott, with Covid testing sales on the rise as a new variant makes its way through the U.S., not to mention the company’s arthritis drug Humira reportedly being the world’s top-selling drug this year. Abbott even raised full-year earnings guidance slightly, though the stock is trading down more than -3% on the earnings report. Abbott is +5% over the past month, but -21% year to date.
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Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.8% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
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Abbott Laboratories (ABT): Free Stock Analysis Report
CSX Corporation (CSX): Free Stock Analysis Report
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To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Ahead of today’s open, Abbott Labs ABT reported Q2 earnings which easily outperformed expectations on both top and bottom lines: earnings of $1.43 per share well surpassed the $1.10 Zacks consensus estimate, whereas $11.3 billion in sales crushed expectations by nearly a billion dollars, and well ahead of the $10.2 billion reported in the year-ago quarter. Abbott Laboratories (ABT): Free Stock Analysis Report The thing about today, as opposed to pre-market activity over the past week and in the coming days/weeks, is that we have few economic indicators gracing us ahead of the opening bell. | Ahead of today’s open, Abbott Labs ABT reported Q2 earnings which easily outperformed expectations on both top and bottom lines: earnings of $1.43 per share well surpassed the $1.10 Zacks consensus estimate, whereas $11.3 billion in sales crushed expectations by nearly a billion dollars, and well ahead of the $10.2 billion reported in the year-ago quarter. Abbott Laboratories (ABT): Free Stock Analysis Report Big-name companies like Tesla TSLA, United Airlines UAL and rail giant CSX CSX all report after the close, while Existing Home Sales for June come out after the regular trading session commences. | Ahead of today’s open, Abbott Labs ABT reported Q2 earnings which easily outperformed expectations on both top and bottom lines: earnings of $1.43 per share well surpassed the $1.10 Zacks consensus estimate, whereas $11.3 billion in sales crushed expectations by nearly a billion dollars, and well ahead of the $10.2 billion reported in the year-ago quarter. Abbott Laboratories (ABT): Free Stock Analysis Report Big-name companies like Tesla TSLA, United Airlines UAL and rail giant CSX CSX all report after the close, while Existing Home Sales for June come out after the regular trading session commences. | Abbott Laboratories (ABT): Free Stock Analysis Report Ahead of today’s open, Abbott Labs ABT reported Q2 earnings which easily outperformed expectations on both top and bottom lines: earnings of $1.43 per share well surpassed the $1.10 Zacks consensus estimate, whereas $11.3 billion in sales crushed expectations by nearly a billion dollars, and well ahead of the $10.2 billion reported in the year-ago quarter. The Nasdaq has closed higher in three of the last four trading days; the last two of three for the Dow and the S&P 500. |
31512.0 | 2022-07-20 00:00:00 UTC | Health Care Sector Update for 07/20/2022: ADIL, ABT, IONS, NVS, XLV, IBB | ABT | https://www.nasdaq.com/articles/health-care-sector-update-for-07-20-2022%3A-adil-abt-ions-nvs-xlv-ibb | nan | nan | Health care stocks were mixed premarket Wednesday. The Health Care SPDR (XLV) was 0.1% lower and the iShares Biotechnology Index (IBB) was recently inactive.
Adial Pharmaceuticals (ADIL) said its phase 3 trial for potential treatment AD04 showed positive results in patients with alcohol use disorder. Adial Pharmaceuticals stock was shedding 25%.
Abbott Laboratories (ABT) shares were down more than 3% even after it reported adjusted Q2 earnings of $1.43 per diluted share, up from $1.17 a year ago. Analysts polled by Capital IQ estimated $1.14.
Ionis Pharmaceuticals (IONS) said Novartis (NVS) has completed enrolling patients for the phase 3 clinical study of pelacarsen with 8,325 participants. Ionis Pharmaceuticals shares were almost 2% lower recently, while NVS shared declined about 1%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (ABT) shares were down more than 3% even after it reported adjusted Q2 earnings of $1.43 per diluted share, up from $1.17 a year ago. The Health Care SPDR (XLV) was 0.1% lower and the iShares Biotechnology Index (IBB) was recently inactive. Adial Pharmaceuticals (ADIL) said its phase 3 trial for potential treatment AD04 showed positive results in patients with alcohol use disorder. | Abbott Laboratories (ABT) shares were down more than 3% even after it reported adjusted Q2 earnings of $1.43 per diluted share, up from $1.17 a year ago. Health care stocks were mixed premarket Wednesday. Adial Pharmaceuticals stock was shedding 25%. | Abbott Laboratories (ABT) shares were down more than 3% even after it reported adjusted Q2 earnings of $1.43 per diluted share, up from $1.17 a year ago. Adial Pharmaceuticals (ADIL) said its phase 3 trial for potential treatment AD04 showed positive results in patients with alcohol use disorder. Ionis Pharmaceuticals (IONS) said Novartis (NVS) has completed enrolling patients for the phase 3 clinical study of pelacarsen with 8,325 participants. | Abbott Laboratories (ABT) shares were down more than 3% even after it reported adjusted Q2 earnings of $1.43 per diluted share, up from $1.17 a year ago. Health care stocks were mixed premarket Wednesday. Adial Pharmaceuticals (ADIL) said its phase 3 trial for potential treatment AD04 showed positive results in patients with alcohol use disorder. |
31513.0 | 2022-07-20 00:00:00 UTC | Abbott (ABT) Q2 Earnings and Revenues Top Estimates | ABT | https://www.nasdaq.com/articles/abbott-abt-q2-earnings-and-revenues-top-estimates | nan | nan | Abbott (ABT) came out with quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.09 per share. This compares to earnings of $1.17 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 31.19%. A quarter ago, it was expected that this maker of infant formula, medical devices and drugs would post earnings of $1.47 per share when it actually produced earnings of $1.73, delivering a surprise of 17.69%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Abbott, which belongs to the Zacks Medical - Products industry, posted revenues of $11.26 billion for the quarter ended June 2022, surpassing the Zacks Consensus Estimate by 8.67%. This compares to year-ago revenues of $10.22 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Abbott shares have lost about 21.9% since the beginning of the year versus the S&P 500's decline of -17.4%.
What's Next for Abbott?
While Abbott has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Abbott: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.96 on $9.48 billion in revenues for the coming quarter and $4.81 on $41.6 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the top 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, CytoSorbents (CTSO), has yet to report results for the quarter ended June 2022.
This blood purification therapy company is expected to post quarterly loss of $0.14 per share in its upcoming report, which represents a year-over-year change of -27.3%. The consensus EPS estimate for the quarter has been revised 11.1% higher over the last 30 days to the current level.
CytoSorbents' revenues are expected to be $9.56 million, down 20.5% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott (ABT) came out with quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.09 per share. Abbott Laboratories (ABT): Free Stock Analysis Report Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. | Abbott (ABT) came out with quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.09 per share. Abbott Laboratories (ABT): Free Stock Analysis Report Abbott, which belongs to the Zacks Medical - Products industry, posted revenues of $11.26 billion for the quarter ended June 2022, surpassing the Zacks Consensus Estimate by 8.67%. | Abbott (ABT) came out with quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.09 per share. Abbott Laboratories (ABT): Free Stock Analysis Report Abbott, which belongs to the Zacks Medical - Products industry, posted revenues of $11.26 billion for the quarter ended June 2022, surpassing the Zacks Consensus Estimate by 8.67%. | Abbott (ABT) came out with quarterly earnings of $1.43 per share, beating the Zacks Consensus Estimate of $1.09 per share. Abbott Laboratories (ABT): Free Stock Analysis Report While Abbott has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? |
31514.0 | 2022-07-20 00:00:00 UTC | Abbott Q2 Profit Tops Estimates; Raises 2022 Earnings Guidance | ABT | https://www.nasdaq.com/articles/abbott-q2-profit-tops-estimates-raises-2022-earnings-guidance | nan | nan | (RTTNews) - Abbott (ABT) said it recorded another quarter of strong growth with an increase in adjusted earnings per share of 22.2 percent year-over-year. Sales were up 14.3 percent on an organic basis, which excludes the impact of foreign exchange. Looking forward, the company increased its full-year 2022 EPS guidance. The company noted that its 2022 guidance includes projected COVID-19 testing-related sales of $6.1 billion, which includes sales of $5.6 billion through June 2022 and projected sales of $500 million over the next few months.
Excluding items, second-quarter adjusted EPS was $1.43 compared to $1.17, prior year. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $1.12, for the quarter. Analysts' estimates typically exclude special items. Net earnings excluding specified items was $2.54 billion, up 20.2% from previous year.
GAAP net earnings were $2.02 billion, an increase of 69.7% from prior year. EPS was $1.14 compared to $0.66, last year.
Second-quarter worldwide sales were $11.3 billion, up 10.1 percent on a reported basis. Global COVID-19 testing-related sales were $2.3 billion in the second quarter. Worldwide sales, excluding COVID-19 testing-related sales, decreased 0.3 percent on a reported basis and increased 4.1 percent on an organic basis. Analysts on average had estimated $10.29 billion in revenue.
The company noted that its worldwide sales were negatively impacted by a voluntary recall and manufacturing shutdown initiated in February of certain infant formula products manufactured at one of Abbott's U.S. plants. Excluding COVID-19 testing-related sales and the U.S. sales associated with the recalled products in the current and prior years, total worldwide sales increased 1.6 percent on a reported basis and 6.2 percent on an organic basis in the second quarter.
Abbott increased its full-year 2022 GAAP earnings per share guidance to at least $3.50. Abbott forecasts specified items for the full-year 2022 of $1.40 per share primarily related to intangible amortization, costs related to a voluntary recall, expenses associated with acquisitions, restructurings and cost reduction initiatives and other net expenses. Excluding specified items, Abbott raised its projected adjusted earnings per share to at least $4.90 for 2022. Analysts expect the company to report profit per share of $4.88.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott (ABT) said it recorded another quarter of strong growth with an increase in adjusted earnings per share of 22.2 percent year-over-year. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $1.12, for the quarter. Abbott forecasts specified items for the full-year 2022 of $1.40 per share primarily related to intangible amortization, costs related to a voluntary recall, expenses associated with acquisitions, restructurings and cost reduction initiatives and other net expenses. | (RTTNews) - Abbott (ABT) said it recorded another quarter of strong growth with an increase in adjusted earnings per share of 22.2 percent year-over-year. The company noted that its 2022 guidance includes projected COVID-19 testing-related sales of $6.1 billion, which includes sales of $5.6 billion through June 2022 and projected sales of $500 million over the next few months. Worldwide sales, excluding COVID-19 testing-related sales, decreased 0.3 percent on a reported basis and increased 4.1 percent on an organic basis. | (RTTNews) - Abbott (ABT) said it recorded another quarter of strong growth with an increase in adjusted earnings per share of 22.2 percent year-over-year. The company noted that its 2022 guidance includes projected COVID-19 testing-related sales of $6.1 billion, which includes sales of $5.6 billion through June 2022 and projected sales of $500 million over the next few months. Worldwide sales, excluding COVID-19 testing-related sales, decreased 0.3 percent on a reported basis and increased 4.1 percent on an organic basis. | (RTTNews) - Abbott (ABT) said it recorded another quarter of strong growth with an increase in adjusted earnings per share of 22.2 percent year-over-year. Excluding items, second-quarter adjusted EPS was $1.43 compared to $1.17, prior year. Net earnings excluding specified items was $2.54 billion, up 20.2% from previous year. |
31515.0 | 2022-07-20 00:00:00 UTC | Abbott raises 2022 forecast on strong diabetes, COVID test sales | ABT | https://www.nasdaq.com/articles/abbott-raises-2022-forecast-on-strong-diabetes-covid-test-sales | nan | nan | Compares with analysts' estimates, adds details on shutdown, analysts comment
July 20 (Reuters) - Abbott Laboratories ABT.N raised its annual earnings forecast as the impact from a shutdown of its Michigan plant that triggered a nationwide baby formula shortage was more than offset by demand for its diabetes products and COVID-19 tests.
The company on Wednesday reported COVID-19 testing-related sales of $2.3 billion for the second quarter, while it recorded about $1.1 billion in sales of its blood glucose-level tracker, FreeStyle Libre, a rise of nearly 19%.
COVID-19 testing sales have shielded Abbott and other device makers during the pandemic from the slump in demand for its other medical devices as non-urgent surgeries were delayed.
Shares of the company fell 2% before the bell as analysts pointed to the conservative full-year forecast.
The adjusted profit forecast "creates more questions than answers" as the small raise implies Abbott is cautious on its outlook for the second half, said Atlantic Equities analyst James Mainwaring.
Abbott said it restarted partial production at its Michigan plant as it looks to ease the supply of baby formulas in the United States. The plant shutdown and a recall of infant formula had deepened a supply shortage and sent parents scrambling in the past few months.
Before the recall, Abbott controlled 40% of the infant formula market, including Similac, but the market share of other companies such as Reckitt Benckiser Group PLC RKT.L has grown since then.
Sales at Abbott's nutrition unit fell 7.4%, hit by the recall and the plant shutdown.
On an adjusted basis, Abbott earned $1.43 per share during the quarter, higher than the average analyst estimate of $1.13.
Abbott said it expects at least $4.90 per share in adjusted earnings in 2022, compared with at least $4.70 forecast earlier.
(Reporting by Leroy Leo and Amruta Khandekar in Bengaluru; Editing by Sriraj kalluvila and Maju Samuel)
((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Compares with analysts' estimates, adds details on shutdown, analysts comment July 20 (Reuters) - Abbott Laboratories ABT.N raised its annual earnings forecast as the impact from a shutdown of its Michigan plant that triggered a nationwide baby formula shortage was more than offset by demand for its diabetes products and COVID-19 tests. The adjusted profit forecast "creates more questions than answers" as the small raise implies Abbott is cautious on its outlook for the second half, said Atlantic Equities analyst James Mainwaring. Abbott said it restarted partial production at its Michigan plant as it looks to ease the supply of baby formulas in the United States. | Compares with analysts' estimates, adds details on shutdown, analysts comment July 20 (Reuters) - Abbott Laboratories ABT.N raised its annual earnings forecast as the impact from a shutdown of its Michigan plant that triggered a nationwide baby formula shortage was more than offset by demand for its diabetes products and COVID-19 tests. The plant shutdown and a recall of infant formula had deepened a supply shortage and sent parents scrambling in the past few months. Sales at Abbott's nutrition unit fell 7.4%, hit by the recall and the plant shutdown. | Compares with analysts' estimates, adds details on shutdown, analysts comment July 20 (Reuters) - Abbott Laboratories ABT.N raised its annual earnings forecast as the impact from a shutdown of its Michigan plant that triggered a nationwide baby formula shortage was more than offset by demand for its diabetes products and COVID-19 tests. Before the recall, Abbott controlled 40% of the infant formula market, including Similac, but the market share of other companies such as Reckitt Benckiser Group PLC RKT.L has grown since then. Sales at Abbott's nutrition unit fell 7.4%, hit by the recall and the plant shutdown. | Compares with analysts' estimates, adds details on shutdown, analysts comment July 20 (Reuters) - Abbott Laboratories ABT.N raised its annual earnings forecast as the impact from a shutdown of its Michigan plant that triggered a nationwide baby formula shortage was more than offset by demand for its diabetes products and COVID-19 tests. The plant shutdown and a recall of infant formula had deepened a supply shortage and sent parents scrambling in the past few months. Sales at Abbott's nutrition unit fell 7.4%, hit by the recall and the plant shutdown. |
31516.0 | 2022-07-20 00:00:00 UTC | Abbott Laboratories Q2 Profit Increases, beats estimates | ABT | https://www.nasdaq.com/articles/abbott-laboratories-q2-profit-increases-beats-estimates | nan | nan | (RTTNews) - Abbott Laboratories (ABT) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates.
The company's earnings came in at $2.02 billion, or $1.14 per share. This compares with $1.19 billion, or $0.66 per share, in last year's second quarter.
Excluding items, Abbott Laboratories reported adjusted earnings of $2.54 billion or $1.43 per share for the period.
Analysts on average had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 10.2% to $11.26 billion from $10.22 billion last year.
Abbott Laboratories earnings at a glance (GAAP) :
-Earnings (Q2): $2.02 Bln. vs. $1.19 Bln. last year. -EPS (Q2): $1.14 vs. $0.66 last year. -Analyst Estimate: $1.12 -Revenue (Q2): $11.26 Bln vs. $10.22 Bln last year.
-Guidance: Full year EPS guidance: $4.90
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott Laboratories (ABT) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates. Excluding items, Abbott Laboratories reported adjusted earnings of $2.54 billion or $1.43 per share for the period. Analysts on average had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. | (RTTNews) - Abbott Laboratories (ABT) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates. Excluding items, Abbott Laboratories reported adjusted earnings of $2.54 billion or $1.43 per share for the period. Abbott Laboratories earnings at a glance (GAAP) : -Earnings (Q2): $2.02 Bln. | (RTTNews) - Abbott Laboratories (ABT) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates. The company's revenue for the quarter rose 10.2% to $11.26 billion from $10.22 billion last year. -Analyst Estimate: $1.12 -Revenue (Q2): $11.26 Bln vs. $10.22 Bln last year. | (RTTNews) - Abbott Laboratories (ABT) revealed earnings for its second quarter that increased from the same period last year and beat the Street estimates. This compares with $1.19 billion, or $0.66 per share, in last year's second quarter. Excluding items, Abbott Laboratories reported adjusted earnings of $2.54 billion or $1.43 per share for the period. |
31517.0 | 2022-07-20 00:00:00 UTC | Abbott Laboratories Q2 22 Earnings Conference Call At 9:00 AM ET | ABT | https://www.nasdaq.com/articles/abbott-laboratories-q2-22-earnings-conference-call-at-9%3A00-am-et | nan | nan | (RTTNews) - Abbott Laboratories (ABT) will host a conference call at 9:00 AM ET on July 20, 2022, to discuss Q2 22 earnings results.
To access the live webcast, log on to https://www.abbottinvestor.com/news-and-events?c=94004&p=irol-calall
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott Laboratories (ABT) will host a conference call at 9:00 AM ET on July 20, 2022, to discuss Q2 22 earnings results. To access the live webcast, log on to https://www.abbottinvestor.com/news-and-events?c=94004&p=irol-calall The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott Laboratories (ABT) will host a conference call at 9:00 AM ET on July 20, 2022, to discuss Q2 22 earnings results. To access the live webcast, log on to https://www.abbottinvestor.com/news-and-events?c=94004&p=irol-calall The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott Laboratories (ABT) will host a conference call at 9:00 AM ET on July 20, 2022, to discuss Q2 22 earnings results. To access the live webcast, log on to https://www.abbottinvestor.com/news-and-events?c=94004&p=irol-calall The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott Laboratories (ABT) will host a conference call at 9:00 AM ET on July 20, 2022, to discuss Q2 22 earnings results. To access the live webcast, log on to https://www.abbottinvestor.com/news-and-events?c=94004&p=irol-calall The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
31518.0 | 2022-07-19 00:00:00 UTC | Pre-Market Earnings Report for July 20, 2022 : ASML, ABT, ELV, BIIB, MTB, BKR, NDAQ, NTRS, MKTX, CMA, LAD, BMI | ABT | https://www.nasdaq.com/articles/pre-market-earnings-report-for-july-20-2022-%3A-asml-abt-elv-biib-mtb-bkr-ndaq-ntrs-mktx-0 | nan | nan | The following companies are expected to report earnings prior to market open on 07/20/2022. Visit our Earnings Calendar for a full list of expected earnings releases.
ASML Holding N.V. (ASML)is reporting for the quarter ending June 30, 2022. The capital goods company's consensus earnings per share forecast from the 3 analysts that follow the stock is $3.52. This value represents a 15.79% increase compared to the same quarter last year. In the past year ASML has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 89.95%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ASML is 27.16 vs. an industry ratio of 17.10, implying that they will have a higher earnings growth than their competitors in the same industry.
Abbott Laboratories (ABT)is reporting for the quarter ending June 30, 2022. The medical products company's consensus earnings per share forecast from the 7 analysts that follow the stock is $1.07. This value represents a 8.55% decrease compared to the same quarter last year. In the past year ABT has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 17.69%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ABT is 22.53 vs. an industry ratio of 14.60, implying that they will have a higher earnings growth than their competitors in the same industry.
Elevance Health, Inc. (ELV)is reporting for the quarter ending June 30, 2022. The medical services company's consensus earnings per share forecast from the 16 analysts that follow the stock is $7.72. This value represents a 9.82% increase compared to the same quarter last year. In the past year ELV has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 5.63%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ELV is 16.82 vs. an industry ratio of 9.60, implying that they will have a higher earnings growth than their competitors in the same industry.
Biogen Inc. (BIIB)is reporting for the quarter ending June 30, 2022. The biomedical (gene) company's consensus earnings per share forecast from the 27 analysts that follow the stock is $4.10. This value represents a 27.82% decrease compared to the same quarter last year. BIIB missed the consensus earnings per share in the 1st calendar quarter of 2022 by -17.91%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for BIIB is 13.78 vs. an industry ratio of -0.70, implying that they will have a higher earnings growth than their competitors in the same industry.
M&T Bank Corporation (MTB)is reporting for the quarter ending June 30, 2022. The bank company's consensus earnings per share forecast from the 14 analysts that follow the stock is $3.10. This value represents a 10.14% decrease compared to the same quarter last year. MTB missed the consensus earnings per share in the 2nd calendar quarter of 2021 by -6.76%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for MTB is 10.45 vs. an industry ratio of 9.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Baker Hughes Company (BKR)is reporting for the quarter ending June 30, 2022. The oil (field services) company's consensus earnings per share forecast from the 8 analysts that follow the stock is $0.22. This value represents a 120.00% increase compared to the same quarter last year. Zacks Investment Research reports that the 2022 Price to Earnings ratio for BKR is 23.82 vs. an industry ratio of 11.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Nasdaq, Inc. (NDAQ)is reporting for the quarter ending June 30, 2022. The securities exchange company's consensus earnings per share forecast from the 6 analysts that follow the stock is $1.91. This value represents a 0.53% increase compared to the same quarter last year. In the past year NDAQ has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 2.07%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for NDAQ is 19.79 vs. an industry ratio of 19.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Northern Trust Corporation (NTRS)is reporting for the quarter ending June 30, 2022. The bank company's consensus earnings per share forecast from the 6 analysts that follow the stock is $1.89. This value represents a 9.88% increase compared to the same quarter last year. In the past year NTRS has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 6.63%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for NTRS is 13.27 vs. an industry ratio of 9.80, implying that they will have a higher earnings growth than their competitors in the same industry.
MarketAxess Holdings, Inc. (MKTX)is reporting for the quarter ending June 30, 2022. The securities exchange company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.71. This value represents a 3.39% decrease compared to the same quarter last year. MKTX missed the consensus earnings per share in the 4th calendar quarter of 2021 by -4.2%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for MKTX is 39.08 vs. an industry ratio of 19.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Comerica Incorporated (CMA)is reporting for the quarter ending June 30, 2022. The bank company's consensus earnings per share forecast from the 9 analysts that follow the stock is $1.77. This value represents a 23.71% decrease compared to the same quarter last year. CMA missed the consensus earnings per share in the 1st calendar quarter of 2022 by -0.72%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for CMA is 9.34 vs. an industry ratio of 9.80.
Lithia Motors, Inc. (LAD)is reporting for the quarter ending June 30, 2022. The retail company's consensus earnings per share forecast from the 5 analysts that follow the stock is $12.22. This value represents a 9.89% increase compared to the same quarter last year. In the past year LAD has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 24.2%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for LAD is 5.95 vs. an industry ratio of -1.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Badger Meter, Inc. (BMI)is reporting for the quarter ending June 30, 2022. The industrial company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.52. This value represents a 8.33% increase compared to the same quarter last year. BMI missed the consensus earnings per share in the 1st calendar quarter of 2022 by -3.92%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for BMI is 37.03 vs. an industry ratio of 24.40, implying that they will have a higher earnings growth than their competitors in the same industry.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (ABT)is reporting for the quarter ending June 30, 2022. In the past year ABT has beat the expectations every quarter. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ABT is 22.53 vs. an industry ratio of 14.60, implying that they will have a higher earnings growth than their competitors in the same industry. | Zacks Investment Research reports that the 2022 Price to Earnings ratio for ABT is 22.53 vs. an industry ratio of 14.60, implying that they will have a higher earnings growth than their competitors in the same industry. Abbott Laboratories (ABT)is reporting for the quarter ending June 30, 2022. In the past year ABT has beat the expectations every quarter. | Abbott Laboratories (ABT)is reporting for the quarter ending June 30, 2022. In the past year ABT has beat the expectations every quarter. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ABT is 22.53 vs. an industry ratio of 14.60, implying that they will have a higher earnings growth than their competitors in the same industry. | In the past year ABT has beat the expectations every quarter. Abbott Laboratories (ABT)is reporting for the quarter ending June 30, 2022. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ABT is 22.53 vs. an industry ratio of 14.60, implying that they will have a higher earnings growth than their competitors in the same industry. |
31519.0 | 2022-07-19 00:00:00 UTC | Pre-Market Earnings Report for July 20, 2022 : ASML, ABT, ELV, BIIB, MTB, BKR, NDAQ, NTRS, MKTX, CMA, LAD, BMI | ABT | https://www.nasdaq.com/articles/pre-market-earnings-report-for-july-20-2022-%3A-asml-abt-elv-biib-mtb-bkr-ndaq-ntrs-mktx-cma | nan | nan | The following companies are expected to report earnings prior to market open on 07/20/2022. Visit our Earnings Calendar for a full list of expected earnings releases.
ASML Holding N.V. (ASML)is reporting for the quarter ending June 30, 2022. The capital goods company's consensus earnings per share forecast from the 3 analysts that follow the stock is $3.52. This value represents a 15.79% increase compared to the same quarter last year. In the past year ASML has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 89.95%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ASML is 27.16 vs. an industry ratio of 17.10, implying that they will have a higher earnings growth than their competitors in the same industry.
Abbott Laboratories (ABT)is reporting for the quarter ending June 30, 2022. The medical products company's consensus earnings per share forecast from the 7 analysts that follow the stock is $1.07. This value represents a 8.55% decrease compared to the same quarter last year. In the past year ABT has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 17.69%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ABT is 22.53 vs. an industry ratio of 14.60, implying that they will have a higher earnings growth than their competitors in the same industry.
Elevance Health, Inc. (ELV)is reporting for the quarter ending June 30, 2022. The medical services company's consensus earnings per share forecast from the 16 analysts that follow the stock is $7.72. This value represents a 9.82% increase compared to the same quarter last year. In the past year ELV has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 5.63%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ELV is 16.82 vs. an industry ratio of 9.60, implying that they will have a higher earnings growth than their competitors in the same industry.
Biogen Inc. (BIIB)is reporting for the quarter ending June 30, 2022. The biomedical (gene) company's consensus earnings per share forecast from the 27 analysts that follow the stock is $4.10. This value represents a 27.82% decrease compared to the same quarter last year. BIIB missed the consensus earnings per share in the 1st calendar quarter of 2022 by -17.91%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for BIIB is 13.78 vs. an industry ratio of -0.70, implying that they will have a higher earnings growth than their competitors in the same industry.
M&T Bank Corporation (MTB)is reporting for the quarter ending June 30, 2022. The bank company's consensus earnings per share forecast from the 14 analysts that follow the stock is $3.10. This value represents a 10.14% decrease compared to the same quarter last year. MTB missed the consensus earnings per share in the 2nd calendar quarter of 2021 by -6.76%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for MTB is 10.45 vs. an industry ratio of 9.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Baker Hughes Company (BKR)is reporting for the quarter ending June 30, 2022. The oil (field services) company's consensus earnings per share forecast from the 8 analysts that follow the stock is $0.22. This value represents a 120.00% increase compared to the same quarter last year. Zacks Investment Research reports that the 2022 Price to Earnings ratio for BKR is 23.82 vs. an industry ratio of 11.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Nasdaq, Inc. (NDAQ)is reporting for the quarter ending June 30, 2022. The securities exchange company's consensus earnings per share forecast from the 6 analysts that follow the stock is $1.91. This value represents a 0.53% increase compared to the same quarter last year. In the past year NDAQ has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 2.07%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for NDAQ is 19.79 vs. an industry ratio of 19.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Northern Trust Corporation (NTRS)is reporting for the quarter ending June 30, 2022. The bank company's consensus earnings per share forecast from the 6 analysts that follow the stock is $1.89. This value represents a 9.88% increase compared to the same quarter last year. In the past year NTRS has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 6.63%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for NTRS is 13.27 vs. an industry ratio of 9.80, implying that they will have a higher earnings growth than their competitors in the same industry.
MarketAxess Holdings, Inc. (MKTX)is reporting for the quarter ending June 30, 2022. The securities exchange company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.71. This value represents a 3.39% decrease compared to the same quarter last year. MKTX missed the consensus earnings per share in the 4th calendar quarter of 2021 by -4.2%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for MKTX is 39.08 vs. an industry ratio of 19.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Comerica Incorporated (CMA)is reporting for the quarter ending June 30, 2022. The bank company's consensus earnings per share forecast from the 9 analysts that follow the stock is $1.77. This value represents a 23.71% decrease compared to the same quarter last year. CMA missed the consensus earnings per share in the 1st calendar quarter of 2022 by -0.72%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for CMA is 9.34 vs. an industry ratio of 9.80.
Lithia Motors, Inc. (LAD)is reporting for the quarter ending June 30, 2022. The retail company's consensus earnings per share forecast from the 5 analysts that follow the stock is $12.22. This value represents a 9.89% increase compared to the same quarter last year. In the past year LAD has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 24.2%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for LAD is 5.95 vs. an industry ratio of -1.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Badger Meter, Inc. (BMI)is reporting for the quarter ending June 30, 2022. The industrial company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.52. This value represents a 8.33% increase compared to the same quarter last year. BMI missed the consensus earnings per share in the 1st calendar quarter of 2022 by -3.92%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for BMI is 37.03 vs. an industry ratio of 24.40, implying that they will have a higher earnings growth than their competitors in the same industry.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (ABT)is reporting for the quarter ending June 30, 2022. In the past year ABT has beat the expectations every quarter. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ABT is 22.53 vs. an industry ratio of 14.60, implying that they will have a higher earnings growth than their competitors in the same industry. | Zacks Investment Research reports that the 2022 Price to Earnings ratio for ABT is 22.53 vs. an industry ratio of 14.60, implying that they will have a higher earnings growth than their competitors in the same industry. Abbott Laboratories (ABT)is reporting for the quarter ending June 30, 2022. In the past year ABT has beat the expectations every quarter. | Abbott Laboratories (ABT)is reporting for the quarter ending June 30, 2022. In the past year ABT has beat the expectations every quarter. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ABT is 22.53 vs. an industry ratio of 14.60, implying that they will have a higher earnings growth than their competitors in the same industry. | In the past year ABT has beat the expectations every quarter. Abbott Laboratories (ABT)is reporting for the quarter ending June 30, 2022. Zacks Investment Research reports that the 2022 Price to Earnings ratio for ABT is 22.53 vs. an industry ratio of 14.60, implying that they will have a higher earnings growth than their competitors in the same industry. |
31520.0 | 2022-07-19 00:00:00 UTC | Notable ETF Inflow Detected - SPTM, BAC, ABT, DHR | ABT | https://www.nasdaq.com/articles/notable-etf-inflow-detected-sptm-bac-abt-dhr | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Portfolio S&P 1500 Composite Stock Market ETF (Symbol: SPTM) where we have detected an approximate $65.9 million dollar inflow -- that's a 1.3% increase week over week in outstanding units (from 110,350,000 to 111,750,000). Among the largest underlying components of SPTM, in trading today Bank of America Corp (Symbol: BAC) is up about 2.9%, Abbott Laboratories (Symbol: ABT) is up about 1.6%, and Danaher Corp (Symbol: DHR) is up by about 2.1%. For a complete list of holdings, visit the SPTM Holdings page » The chart below shows the one year price performance of SPTM, versus its 200 day moving average:
Looking at the chart above, SPTM's low point in its 52 week range is $44.87 per share, with $59.08 as the 52 week high point — that compares with a last trade of $47.85. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of SPTM, in trading today Bank of America Corp (Symbol: BAC) is up about 2.9%, Abbott Laboratories (Symbol: ABT) is up about 1.6%, and Danaher Corp (Symbol: DHR) is up by about 2.1%. For a complete list of holdings, visit the SPTM Holdings page » The chart below shows the one year price performance of SPTM, versus its 200 day moving average: Looking at the chart above, SPTM's low point in its 52 week range is $44.87 per share, with $59.08 as the 52 week high point — that compares with a last trade of $47.85. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of SPTM, in trading today Bank of America Corp (Symbol: BAC) is up about 2.9%, Abbott Laboratories (Symbol: ABT) is up about 1.6%, and Danaher Corp (Symbol: DHR) is up by about 2.1%. For a complete list of holdings, visit the SPTM Holdings page » The chart below shows the one year price performance of SPTM, versus its 200 day moving average: Looking at the chart above, SPTM's low point in its 52 week range is $44.87 per share, with $59.08 as the 52 week high point — that compares with a last trade of $47.85. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ». | Among the largest underlying components of SPTM, in trading today Bank of America Corp (Symbol: BAC) is up about 2.9%, Abbott Laboratories (Symbol: ABT) is up about 1.6%, and Danaher Corp (Symbol: DHR) is up by about 2.1%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Portfolio S&P 1500 Composite Stock Market ETF (Symbol: SPTM) where we have detected an approximate $65.9 million dollar inflow -- that's a 1.3% increase week over week in outstanding units (from 110,350,000 to 111,750,000). For a complete list of holdings, visit the SPTM Holdings page » The chart below shows the one year price performance of SPTM, versus its 200 day moving average: Looking at the chart above, SPTM's low point in its 52 week range is $44.87 per share, with $59.08 as the 52 week high point — that compares with a last trade of $47.85. | Among the largest underlying components of SPTM, in trading today Bank of America Corp (Symbol: BAC) is up about 2.9%, Abbott Laboratories (Symbol: ABT) is up about 1.6%, and Danaher Corp (Symbol: DHR) is up by about 2.1%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Portfolio S&P 1500 Composite Stock Market ETF (Symbol: SPTM) where we have detected an approximate $65.9 million dollar inflow -- that's a 1.3% increase week over week in outstanding units (from 110,350,000 to 111,750,000). For a complete list of holdings, visit the SPTM Holdings page » The chart below shows the one year price performance of SPTM, versus its 200 day moving average: Looking at the chart above, SPTM's low point in its 52 week range is $44.87 per share, with $59.08 as the 52 week high point — that compares with a last trade of $47.85. |
31521.0 | 2022-07-19 00:00:00 UTC | 3 Healthcare Stocks That Could Help Set You Up for Life | ABT | https://www.nasdaq.com/articles/3-healthcare-stocks-that-could-help-set-you-up-for-life-0 | nan | nan | A stock that may help set you up for life is one that will bring in revenue and profit over the long term. Share price performance should follow. So, this is one you'll want to hold onto for the long term too. Some of these players may also offer dividends. This ensures recurring income from your investment -- and will help build your wealth over time.
Which stocks fit the bill? Let's take a look at three healthcare companies that are terrific buys right now. One is a player with four successful businesses. Another is the global leader in robotic surgery. And the third has what it takes to transform the prevention and treatment of disease over time.
1. Abbott Laboratories
A recall of Abbott Laboratories' (NYSE: ABT) baby formula earlier in the year weighed on first-quarter earnings. That and the general market environment hurt the shares. They've slipped about 24% so far this year. Now, they're trading at around 25 times trailing-12-month earnings -- the lowest level since 2016. Considering Abbott's earnings track record over time, future prospects, and dividend payments, this is a buying opportunity.
Abbott has grown revenue and profit -- into the billions of dollars -- over time. And Abbott is also a solid bet if you're looking for dividend growth. The company is a Dividend King. That means it has increased its dividend for at least the past 50 consecutive years. So, overall, Abbott has proven that it can grow earnings and share the wealth with investors.
I'm optimistic Abbott can continue along this path. The company has four strong businesses: medical devices, diagnostics, nutrition, and established pharmaceuticals. If one of these faces headwinds -- such as the baby formula recall hurting the nutrition segment -- the others may compensate. For instance, in the first quarter, while nutrition sales fell, the three others posted double-digit gains. All of this means Abbott is a great company to buy and hold onto for a very long time.
2. Intuitive Surgical
Intuitive Surgical (NASDAQ: ISRG) holds nearly 80% of the global robotic surgery market, according to BIS Research. That's an enormous lead. And I'm not expecting the company to give up too much of its share in the coming years for a couple of reasons.
First, Intuitive's flagship da Vinci robot costs about $2 million. If hospitals are satisfied with performance, it's unlikely they'll shift to another product after making such an investment. Second, most surgeons train on the da Vinci. They probably prefer a device they're familiar with over a new system that would require additional training.
Another thing I like about Intuitive is the fact that it doesn't only generate revenue through the sales or leasing of the da Vinci system. It actually generates most of its revenue through the sales of instruments and accessories needed to perform surgeries using the da Vinci. And Intuitive also sells service plans to hospitals for maintenance of the systems. So, each customer represents recurrent revenue.
Intuitive shares have dropped more than 42% this year. And they're now trading at about 46 times trailing-12-month earnings. That's compared to more than 70 at the start of the year. This is a bargain considering Intuitive's market leadership -- and revenue and profit growth over time.
ISRG Revenue (Annual) data by YCharts
3. Moderna
Moderna (NASDAQ: MRNA) has shown us the power of its messenger RNA technology. The company's mRNA coronavirus vaccine has helped protect people around the world during the pandemic. This is Moderna's first commercialized product. And it's brought in billions of dollars in revenue -- namely, $18.5 billion last year.
Moderna shares soared in the earlier stages of the pandemic. In 2020, they climbed 434%. Since, though, the vaccine stocks investing theme has lost some steam. And Moderna shares followed. Investors worry vaccine makers' revenue may have reached a peak -- and it might drop significantly in a post-pandemic world.
But I'm still optimistic about Moderna for two reasons. First, it looks like at least the most at-risk people may go for annual coronavirus boosters. And Moderna is even working on a combined flu/coronavirus shot that eventually could attract those who go for annual flu shots. So, vaccine revenue probably won't drop off a cliff.
And second, Moderna is just getting started when it comes to mRNA medicine. The company has 46 programs in various therapeutic areas in the pipeline. And three of those (outside of the coronavirus program) are in phase 3 trials. Moderna's $19.3 billion in cash will help the company bring in candidates through development. So opportunity for more revenue lies ahead.
Moderna stock has lost more than 35% this year. Considering this -- and what the product portfolio may look like a few years down the road -- now is time to snap up shares of this innovative biotech company.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories A recall of Abbott Laboratories' (NYSE: ABT) baby formula earlier in the year weighed on first-quarter earnings. Considering Abbott's earnings track record over time, future prospects, and dividend payments, this is a buying opportunity. Another thing I like about Intuitive is the fact that it doesn't only generate revenue through the sales or leasing of the da Vinci system. | Abbott Laboratories A recall of Abbott Laboratories' (NYSE: ABT) baby formula earlier in the year weighed on first-quarter earnings. If one of these faces headwinds -- such as the baby formula recall hurting the nutrition segment -- the others may compensate. Intuitive Surgical Intuitive Surgical (NASDAQ: ISRG) holds nearly 80% of the global robotic surgery market, according to BIS Research. | Abbott Laboratories A recall of Abbott Laboratories' (NYSE: ABT) baby formula earlier in the year weighed on first-quarter earnings. All of this means Abbott is a great company to buy and hold onto for a very long time. Moderna stock has lost more than 35% this year. | Abbott Laboratories A recall of Abbott Laboratories' (NYSE: ABT) baby formula earlier in the year weighed on first-quarter earnings. Considering Abbott's earnings track record over time, future prospects, and dividend payments, this is a buying opportunity. Intuitive shares have dropped more than 42% this year. |
31522.0 | 2022-07-19 00:00:00 UTC | 3 Dividend Growth Stocks You Can Buy Now and Hold Forever | ABT | https://www.nasdaq.com/articles/3-dividend-growth-stocks-you-can-buy-now-and-hold-forever | nan | nan | Are you worried about inflation eating into your savings? Perhaps you're nervous that the Federal Reserve's plan to fight inflation with rising interest rates will lead to a recession.
At times like these, it can seem like there aren't any good options to invest in, but this isn't the case. Plenty of well-established businesses have operated successfully through economic downturns that make recent conditions seem like a walk in the park.
These three leading healthcare businesses have long histories of making dividend payments and raising their payouts at least once every year. Investors who buy them now can expect steadily rising payments into and throughout their retirement years.
Abbott Laboratories
Shares of Abbott Laboratories (NYSE: ABT) have fallen more than 20% from the peak they reached in January. Throughout 2021, soaring sales of its COVID-19 tests pushed the stock higher, but now, demand for those diagnostics has fallen, and so has the stock. At the current share price, its dividend yields 1.7%, but that yield could rise sharply in the years ahead.
In addition to its industry-leading diagnostics business, Abbott Laboratories has a medical devices arm that markets a variety of products, including continuous blood glucose monitors (CGMs) that are increasingly popular among people with diabetes and the physicians who treat them.
Abbott's latest FDA-approved CGM, the Freestyle Libre 3, is significantly smaller than competing devices. It also has built a strong lead in the U.S. market because its nearest competitor, the G7 from Dexcom, still hasn't received clearance from the FDA.
Abbott Laboratories has made consistent dividend payments since 1924, and it's been 50 years since it went more than a year without raising its payout at least once. Given the company's strong commitment to its shareholders and its capacity for raising its payouts, holding on to this stock for the long run could add lots of extra cash to your brokerage account.
Johnson & Johnson
Johnson & Johnson (NYSE: JNJ) is another well-diversified healthcare company with a legendary dividend program. In April, the company raised its payout for the 60th year in a row.
Its collection of healthcare businesses has allowed J&J to reliably grow its bottom line, but not quickly enough to please everybody. This is why it will spin off its consumer goods segment into a separate company in 2023. The business that remains will be able to focus on the rapidly expanding markets for innovative medical devices and new drugs.
At recent prices, shares of J&J offer a 2.5% yield, and investors can expect the combined dividends after next year's spinoff to provide the same value or at least a little bit more. Over the past year, the company used just 57% of its free cash flow from operations to make dividend payments. This means the company can comfortably raise its payout and invest in its future at the same time.
AbbVie
AbbVie (NYSE: ABBV) is a biopharmaceutical company that was spun off from Abbott Laboratories in 2013. Since then, it's been able to raise its payout by more than 250% with help from blockbuster drug sales.
AbbVie's lead product, Humira, was the world's top-selling drug in 2020, and second only to Pfizer's COVID-19 vaccine in 2021. In 2023, Humira will begin losing ground to competition from several biosimilar versions the FDA has already approved.
This is a great dividend growth stock to buy now because AbbVie has expertly invested its Humira profits into cash-generating machines that will more than offset those pending sales declines. For example, in 2019, the company launched Rinvoq for arthritis and Skyrizi for psoriasis. These drugs are already on pace to generate a combined $6 billion in sales this year, and AbbVie thinks they'll reach a combined $15 billion by 2025.
Despite more than tripling its annual payout since 2013, AbbVie only needed 43% of its free cash flow from operations to meet its dividend commitments over the past year. As such, the drugmaker has plenty of room to boost its payout in the years to come.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool recommends DexCom and Johnson & Johnson. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories Shares of Abbott Laboratories (NYSE: ABT) have fallen more than 20% from the peak they reached in January. In addition to its industry-leading diagnostics business, Abbott Laboratories has a medical devices arm that markets a variety of products, including continuous blood glucose monitors (CGMs) that are increasingly popular among people with diabetes and the physicians who treat them. Given the company's strong commitment to its shareholders and its capacity for raising its payouts, holding on to this stock for the long run could add lots of extra cash to your brokerage account. | Abbott Laboratories Shares of Abbott Laboratories (NYSE: ABT) have fallen more than 20% from the peak they reached in January. These three leading healthcare businesses have long histories of making dividend payments and raising their payouts at least once every year. Johnson & Johnson Johnson & Johnson (NYSE: JNJ) is another well-diversified healthcare company with a legendary dividend program. | Abbott Laboratories Shares of Abbott Laboratories (NYSE: ABT) have fallen more than 20% from the peak they reached in January. These three leading healthcare businesses have long histories of making dividend payments and raising their payouts at least once every year. Abbott Laboratories has made consistent dividend payments since 1924, and it's been 50 years since it went more than a year without raising its payout at least once. | Abbott Laboratories Shares of Abbott Laboratories (NYSE: ABT) have fallen more than 20% from the peak they reached in January. These three leading healthcare businesses have long histories of making dividend payments and raising their payouts at least once every year. Abbott Laboratories has made consistent dividend payments since 1924, and it's been 50 years since it went more than a year without raising its payout at least once. |
31523.0 | 2022-07-17 00:00:00 UTC | Will Abbott Stock Rise After Its Q2 Results? | ABT | https://www.nasdaq.com/articles/will-abbott-stock-rise-after-its-q2-results | nan | nan | Abbott (NYSE: ABT) is scheduled to report its Q2 2022 results on Wednesday, July 20. We expect the company to likely post revenue in line and earnings above the street expectations. A rise in the number of procedures performed will likely aid the company’s medical devices sales, offsetting any decline in the diagnostics business, given that the segment benefited from higher Covid-19 testing in the prior-year quarter. Abbott’s nutritional business will also face headwinds due to the recall of baby formula and production challenges at one of its plants. This, clubbed with rising inflation, may weigh on the company’s gross margins.
Although we expect Abbott to post mixed results in Q2, our forecast indicates that ABT stock is undervalued at its current levels, as discussed below. Our interactive dashboard analysis of Abbott Earnings Preview has additional details.
(1) Revenues expected to align with the consensus estimates
Trefis estimates Abbott’s Q2 2022 revenues to be around $10.3 billion, in-line with the consensus estimate.
The revenue growth will likely be visible for its medical devices, and established pharmaceuticals businesses, while we expect a decline in diagnostics and nutritional segment sales.
As the Covid-19 cases are declining, the demand for testing is also expected to fall, weighing on Abbott’s diagnostics business.
The nutritional segment has had a tough start this year, with manufacturing challenges at its Michigan facility impacting the supply and, in turn, sales of baby formula products, weighing on the segment sales in Q2.
Abbott has recently secured the U.S. FDA approval for its Freestyle Libre 3, and this will help it gain market share and aid the diabetes business sales growth.
Looking at Q1, the company reported $11.9 billion in sales, up 14% y-o-y, driven by a solid 32% rise in diagnostics sales.
Our dashboard on Abbott Revenues offers more details on the company’s segments.
2) EPS likely to be above the consensus estimates
Abbott’s Q2 2022 adjusted earnings per share (EPS) is expected to be $1.16 per Trefis analysis, slightly above the consensus estimate of $1.12.
Abbott’s adjusted net income of $3.1 billion in Q1 2022 reflected a significant 30% growth from its $2.4 billion figure in the prior-year quarter. This can be attributed to higher revenues as well as net margin expansion.
The company’s operating expenses, including R&D and SG&A, grew slower than the revenue growth in Q1.
However, inflationary headwinds and supply chain disruption likely weighed on the company’s net margin expansion in Q2.
For the full-year 2022, we expect the adjusted EPS to be lower at $4.97, compared to $5.24 in 2021. This can be attributed to an anticipated decline in Covid-19 testing sales.
(3) ABT stock looks undervalued
We estimate Abbott’s Valuation to be around $141 per share, which is a significant 33% above the current market price of $106.
At its current levels, ABT stock is trading at a P/E multiple of 21x based on our EPS estimate of $4.97 for 2022, compared to the last three-year average of 24x, implying that ABT stock is attractive from a valuation point of view.
If the company reports upbeat Q2 results and provides an outlook better than the street estimates, the P/E multiple will likely be revised upward, resulting in higher levels for ABT stock.
While ABT stock looks undervalued, it is helpful to see how Abbott’s Peers fare on metrics that matter. You will find other valuable comparisons for companies across industries at Peer Comparisons.
Furthermore, the Covid-19 crisis has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for Xylem vs. Merck.
With inflation rising and the Fed raising interest rates, among other factors, ABT stock has fallen 22% this year. Can it drop more? See how low Abbott stock can go by comparing its decline in previous market crashes. Here is a performance summary of all stocks in previous market crashes.
What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.
Returns Jul 2022
MTD [1] 2022
YTD [1] 2017-22
Total [2]
ABT Return -2% -25% 177%
S&P 500 Return 1% -20% 71%
Trefis Multi-Strategy Portfolio 2% -21% 210%
[1] Month-to-date and year-to-date as of 7/14/2022
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott (NYSE: ABT) is scheduled to report its Q2 2022 results on Wednesday, July 20. Although we expect Abbott to post mixed results in Q2, our forecast indicates that ABT stock is undervalued at its current levels, as discussed below. (3) ABT stock looks undervalued We estimate Abbott’s Valuation to be around $141 per share, which is a significant 33% above the current market price of $106. | Total [2] ABT Return -2% -25% 177% S&P 500 Return 1% -20% 71% Trefis Multi-Strategy Portfolio 2% -21% 210% [1] Month-to-date and year-to-date as of 7/14/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Abbott (NYSE: ABT) is scheduled to report its Q2 2022 results on Wednesday, July 20. Although we expect Abbott to post mixed results in Q2, our forecast indicates that ABT stock is undervalued at its current levels, as discussed below. | At its current levels, ABT stock is trading at a P/E multiple of 21x based on our EPS estimate of $4.97 for 2022, compared to the last three-year average of 24x, implying that ABT stock is attractive from a valuation point of view. Total [2] ABT Return -2% -25% 177% S&P 500 Return 1% -20% 71% Trefis Multi-Strategy Portfolio 2% -21% 210% [1] Month-to-date and year-to-date as of 7/14/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Abbott (NYSE: ABT) is scheduled to report its Q2 2022 results on Wednesday, July 20. | (3) ABT stock looks undervalued We estimate Abbott’s Valuation to be around $141 per share, which is a significant 33% above the current market price of $106. At its current levels, ABT stock is trading at a P/E multiple of 21x based on our EPS estimate of $4.97 for 2022, compared to the last three-year average of 24x, implying that ABT stock is attractive from a valuation point of view. Abbott (NYSE: ABT) is scheduled to report its Q2 2022 results on Wednesday, July 20. |
31524.0 | 2022-07-17 00:00:00 UTC | Will Intuitive Surgical Stock See Higher Levels Post Q2 Results? | ABT | https://www.nasdaq.com/articles/will-intuitive-surgical-stock-see-higher-levels-post-q2-results | nan | nan | Intuitive Surgical (NASDAQ: ISRG), a fast-growing robotic surgical platform company, is scheduled to report its Q2 2022 results on Thursday, July 21. We expect Intuitive Surgical to report revenue and earnings above the street estimates, driven by a rise in total procedures volume. However, inflationary headwinds may weigh on the company’s net margins. Not only do we believe the company will navigate well during the quarter, but we also find the stock to be undervalued, as discussed below. Our interactive dashboard analysis on Intuitive Surgical Earnings Preview has additional details.
(1) Revenues expected to be marginally above the consensus estimates
Trefis estimates Intuitive Surgical’s Q2 2022 revenues to be around $1.62 billion, slightly above the $1.56 billion consensus estimate.
After a surge in Covid-19 cases due to the spread of Omicron in Q1, the overall procedure volume likely picked up pace in Q2, aiding the company’s top-line growth.
Looking at Q1 2022, the company saw its sales grow 15% y-o-y to $1.5 billion. This growth was led by similar growth in all three segments – Instruments & Accessories, Systems, and Services. Our dashboard on Intuitive Surgical Revenues has more details on the company’s segments.
Intuitive Surgical saw a 19% rise in worldwide procedures volume, and its installed base stood at 6,920 systems, reflecting an increase of 13% compared with 6,142 in the prior-year quarter. This trend likely continued in Q2 as well.
(2) EPS likely to be comfortably above the consensus estimates
Intuitive Surgical’s Q2 2022 adjusted earnings per share (EPS) is expected to be $1.26 per Trefis analysis, comfortably above the $1.19 consensus estimate.
The company’s adjusted net income of $413 million in Q1 2022 reflected a 3% fall from its $427 million figure in the prior-year quarter, as the 15% sales growth was more than offset by over 500 bps drop in net margins. This can primarily be attributed to higher logistics costs and increased training, travel, and marketing spending.
With the rising inflation, the costs may remain high for the company in the near term.
For the full-year 2022, we expect the adjusted EPS to be higher at $5.03 compared to $4.96 in 2021.
(3) ISRG stock is undervalued
We estimate Intuitive Surgical’s Valuation to be around $300 per share, which is a significant 49% above the current market price of $202
At its current levels, ISRG stock is trading at under 38x forward adjusted earnings, compared to the last three-year average of over 47x, implying the stock is attractive from a valuation point of view.
Investors have assigned a high trading multiple for ISRG stock, given the substantial revenue and earnings growth over the past years.
Note: P/E Multiples are based on Share Price at the end of the year and reported (or expected) Adjusted Earnings for the full year
While ISRG stock looks undervalued, it is helpful to see how Intuitive Surgical’s Peers fare on metrics that matter. You will find other valuable comparisons for companies across industries at Peer Comparisons.
Furthermore, the Covid-19 crisis has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for Abbott vs. Amerco.
With inflation rising and the Fed raising interest rates, among other factors, ISRG stock has plunged 43% this year. Can it drop more? See how low Intuitive Surgical stock can go by comparing its decline in previous market crashes. Here is a performance summary of all stocks in previous market crashes.
What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.
Returns Jul 2022
MTD [1] 2022
YTD [1] 2017-22
Total [2]
ISRG Return 1% -44% 187%
S&P 500 Return 1% -20% 71%
Trefis Multi-Strategy Portfolio 2% -21% 210%
[1] Month-to-date and year-to-date as of 7/14/2022
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | We expect Intuitive Surgical to report revenue and earnings above the street estimates, driven by a rise in total procedures volume. After a surge in Covid-19 cases due to the spread of Omicron in Q1, the overall procedure volume likely picked up pace in Q2, aiding the company’s top-line growth. Intuitive Surgical saw a 19% rise in worldwide procedures volume, and its installed base stood at 6,920 systems, reflecting an increase of 13% compared with 6,142 in the prior-year quarter. | (1) Revenues expected to be marginally above the consensus estimates Trefis estimates Intuitive Surgical’s Q2 2022 revenues to be around $1.62 billion, slightly above the $1.56 billion consensus estimate. (2) EPS likely to be comfortably above the consensus estimates Intuitive Surgical’s Q2 2022 adjusted earnings per share (EPS) is expected to be $1.26 per Trefis analysis, comfortably above the $1.19 consensus estimate. Note: P/E Multiples are based on Share Price at the end of the year and reported (or expected) Adjusted Earnings for the full year While ISRG stock looks undervalued, it is helpful to see how Intuitive Surgical’s Peers fare on metrics that matter. | (3) ISRG stock is undervalued We estimate Intuitive Surgical’s Valuation to be around $300 per share, which is a significant 49% above the current market price of $202 At its current levels, ISRG stock is trading at under 38x forward adjusted earnings, compared to the last three-year average of over 47x, implying the stock is attractive from a valuation point of view. Note: P/E Multiples are based on Share Price at the end of the year and reported (or expected) Adjusted Earnings for the full year While ISRG stock looks undervalued, it is helpful to see how Intuitive Surgical’s Peers fare on metrics that matter. Total [2] ISRG Return 1% -44% 187% S&P 500 Return 1% -20% 71% Trefis Multi-Strategy Portfolio 2% -21% 210% [1] Month-to-date and year-to-date as of 7/14/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | We expect Intuitive Surgical to report revenue and earnings above the street estimates, driven by a rise in total procedures volume. (3) ISRG stock is undervalued We estimate Intuitive Surgical’s Valuation to be around $300 per share, which is a significant 49% above the current market price of $202 At its current levels, ISRG stock is trading at under 38x forward adjusted earnings, compared to the last three-year average of over 47x, implying the stock is attractive from a valuation point of view. Total [2] ISRG Return 1% -44% 187% S&P 500 Return 1% -20% 71% Trefis Multi-Strategy Portfolio 2% -21% 210% [1] Month-to-date and year-to-date as of 7/14/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
31525.0 | 2022-07-17 00:00:00 UTC | 3 Dividend Growth Stocks to Buy in July | ABT | https://www.nasdaq.com/articles/3-dividend-growth-stocks-to-buy-in-july | nan | nan | What's better than stocks with a strong dividend? That's an easy question. The answer: Stocks with a strong dividend and share price that have excellent prospects to grow.
We asked three Motley Fool contributors to identify dividend growth stocks that are great picks to buy in July. Here's why they chose Abbott Laboratories (NYSE: ABT), AbbVie (NYSE: ABBV), and Johnson & Johnson (NYSE: JNJ).
A Dividend King to buy on the dip
David Jagielski (Abbott Laboratories): If you're looking for a dividend growth stock to buy and hold, you shouldn't overlook a company's track record. This is where Abbott Laboratories shines. The company has been paying dividends for nearly a century, with its initial payments going back to 1924. And for the past 50 years, it has also been consistently increasing its dividends, making it a Dividend King.
Abbott's dividend yield of 1.8% is a little higher than the S&P 500 average. But investors could easily be collecting more on their initial investment by just buying and holding the stock. In five years, Abbott has increased its dividend payments by 77%, averaging a compounded annual growth rate of 12%.
Its most recent rate hike was a 4.4% bump. If the company were to continue to grow its dividend at that rate, it would take approximately 16 years for the stock's payouts to double. Abbott has plenty of room to continue growing its dividend. In each of the past four years, its free cash flow has been $4.5 billion or higher -- its annual dividend payments currently cost Abbott $3.2 billion.
The company generates revenue from four segments: Diagnostics, medical devices, pharmaceuticals, and nutrition. All of those business units delivered growth of at least 8% last year. This diversification makes Abbott a resilient business to invest in.
Abbott's shares are down more than 22% this year, performing only slightly worse than the S&P 500. But historically, Abbott has been a low-volatility investment that provides investors with stability. The healthcare stock recently hit a new 52-week low and could be a solid buy on the dip.
Keeping it in the family
Keith Speights (AbbVie): I agree with David's optimism about Abbott. My pick sort of keeps it in the family. AbbVie was part of Abbott until 2013. Thanks to this history, it also ranks as a Dividend King.
AbbVie and Abbott have been neck-and-neck in boosting their dividends since the spin-off. However, AbbVie holds a small advantage with a cumulative 252% dividend increase during the period. But its dividend yield of more than 3.7% is a lot juicier than Abbott's yield.
In addition, AbbVie has easily beaten its parent company based on stock performance. Over the past five years, its shares have soared 120%. AbbVie hasn't slowed down this year. It was one of the top three best Dividend Aristocrats (S&P 500 members with at least 25 consecutive years of dividend increases) in the first half of 2022.
I think that AbbVie will be able to continue increasing its dividend for a long time to come. And I also expect that the pharma stock will be able to deliver market-beating gains over the long run.
Granted, AbbVie faces the loss of U.S. exclusivity for Humira next year. That's especially problematic because Humira is the company's top-selling drug right now. However, AbbVie has long planned for this scenario. It already has two successors to Humira on the market that could together surpass Humira's peak annual sales level within a few years.
Importantly, the anticipated sales decline for Humira is already largely baked into AbbVie's share price. The stock trades at less than 11 times expected earnings despite its big gains this year. AbbVie still looks like a dividend growth stock that can make investors richer over the next decade and beyond.
There's no ceiling in sight for this dividend
Prosper Junior Bakiny (Johnson & Johnson): Dividends are great. Who doesn't enjoy getting some passive income? However, some dividend stocks are better than others. Consider pharma giant Johnson & Johnson. Although some companies decreased or suspended their payouts in 2020 following the pandemic-caused recession, J&J did not. The healthcare giant has raised its payouts by nearly 35% over the past five years.
Zooming out helps give even more perspective. Johnson & Johnson is a member of the (very) exclusive group of Dividend Kings. It has increased its payouts for 60 consecutive years. Johnson & Johnson's business is rock solid. Multiple blockbuster products, a solid pipeline, a strong balance sheet, and several potential long-term tailwinds are some reasons why the drugmaker could be an excellent long-term play.
One area in which Johnson & Johnson is well-positioned to rise in prominence is the robotic-assisted surgery (RAS) market, thanks to its device, Ottava. The RAS space is heating up. Robotic surgeries still make up only a tiny percentage of total procedures worldwide. However, they help perform minimally invasive surgeries that offer important benefits compared to traditional open surgeries, including faster recovery time for patients.
The world's aging population will also be a driver for Johnson & Johnson's business. People need more medical care, including innovative life-saving therapies and surgeries, as they age. While Johnson & Johnson will spin off its consumer health unit next year, its two remaining segments -- which generate stronger sales growth -- are capable of helping it deliver robust financial results regularly.
With a solid business backing it, Johnson & Johnson's dividend is safe and should continue growing. The company's cash payout ratio of 56.55% is reasonable. Its dividend yield of 2.53% is above-average. The stock should be poised for faster growth after the 2023 spin-off of J&J's consumer health unit. Income-seeking investors can't go wrong with this drugmaker, in my view.
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David Jagielski has no position in any of the stocks mentioned. Keith Speights has positions in AbbVie. Prosper Junior Bakiny has positions in Johnson & Johnson. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here's why they chose Abbott Laboratories (NYSE: ABT), AbbVie (NYSE: ABBV), and Johnson & Johnson (NYSE: JNJ). We asked three Motley Fool contributors to identify dividend growth stocks that are great picks to buy in July. In five years, Abbott has increased its dividend payments by 77%, averaging a compounded annual growth rate of 12%. | Here's why they chose Abbott Laboratories (NYSE: ABT), AbbVie (NYSE: ABBV), and Johnson & Johnson (NYSE: JNJ). A Dividend King to buy on the dip David Jagielski (Abbott Laboratories): If you're looking for a dividend growth stock to buy and hold, you shouldn't overlook a company's track record. There's no ceiling in sight for this dividend Prosper Junior Bakiny (Johnson & Johnson): Dividends are great. | Here's why they chose Abbott Laboratories (NYSE: ABT), AbbVie (NYSE: ABBV), and Johnson & Johnson (NYSE: JNJ). A Dividend King to buy on the dip David Jagielski (Abbott Laboratories): If you're looking for a dividend growth stock to buy and hold, you shouldn't overlook a company's track record. If the company were to continue to grow its dividend at that rate, it would take approximately 16 years for the stock's payouts to double. | Here's why they chose Abbott Laboratories (NYSE: ABT), AbbVie (NYSE: ABBV), and Johnson & Johnson (NYSE: JNJ). I think that AbbVie will be able to continue increasing its dividend for a long time to come. However, some dividend stocks are better than others. |
31526.0 | 2022-07-16 00:00:00 UTC | 3 Dividend Stocks That Should Pay You the Rest of Your Life | ABT | https://www.nasdaq.com/articles/3-dividend-stocks-that-should-pay-you-the-rest-of-your-life-1 | nan | nan | The right dividend stocks can shower investors with reliable passive income. This can be used to cover bills and secure financial independence for investors.
But how can investors be sure they are picking companies that will pay dividends for many years? Picking companies that are well-established in thriving industries with track records of dividend growth is as close to a guarantee of future dividend growth as possible.
Here are three quality dividend stocks that appear positioned to grow their dividends for many more years.
Image source: Getty Images.
1. Abbott Laboratories
With a greater than $180 billion market capitalization, Abbott Laboratories (NYSE: ABT) is one of the largest medical devices companies in the world. And if Abbott's size and scale weren't enough, the medical devices industry forecast is very promising.
The market research firm Precedence Research anticipates that the medical devices industry will generate 5.5% annual growth, from $550 billion in 2021 to $850 billion by 2030. This is due to the growing and aging global population. As a result of its dominance and a positive industry forecast, analysts believe that Abbott will deliver 12.6% annual earnings growth over the next five years.
Abbott comes with a 1.8% dividend yield, which tops the S&P 500 index's 1.6% yield. And with the dividend payout ratio expected to be 38.6% in 2022, the Dividend King should be able to hand out strong dividend raises in the years ahead.
The cherry on top is that Abbott is trading at a forward price-to-earnings (P/E) ratio of 21.8. This is slightly below the medical devices industry's average forward P/E ratio of 21.9. That's not a massive discount to its industry. But any discount is worth jumping on with a Dividend King like Abbott.
2. Lowe's
Homeownership is a major component of the American dream for many people. And as the second-largest player in the $900 billion home improvement retail industry, Lowe's (NYSE: LOW) should remain a large beneficiary of the American dream.
Even with the housing market expected to cool off in the near future, analysts still expect Lowe's to put up 11.7% annual earnings growth through the next five years. Increasing interest rates will likely pressure new home builds. On one hand, this will be a headwind to Lowe's. However, on the other hand, other consumers will likely turn to renovations rather than buying their dream home. This will be a tailwind for the company.
Given that Lowe's dividend payout ratio will be 27.4% in 2022, the stock's 2.3% dividend yield is quite safe. This should give Lowe's the flexibility to extend its six-decade streak of dividend growth moving forward.
And the stock's forward P/E ratio of 13.6 is moderately lower than the home improvement retailer industry's average forward P/E ratio of 15.3. This makes Lowe's a great dividend stock to buy and hold over the long run.
3. Philip Morris International
Philip Morris International's (NYSE: PM) roughly $140 billion market cap makes it the largest tobacco company in the world by far. And due to the company's leadership in smoke-free products like IQOS (which heats tobacco rather than burning it), the company's future looks to be bright.
Despite the company's permanently discontinued operations in Russia (and Ukraine until stability returns to the area), analysts are still projecting 3.1% annual earnings growth for the next five years.
Philip Morris International's predicted 90.8% payout ratio for 2022 is on the high end for a tobacco company. This will probably translate into dividend growth lagging earnings growth for the next few years. Although the stock's massive 5.5% dividend yield makes up for lower dividend growth potential for the foreseeable future.
Best of all, Philip Morris International is trading at a forward P/E ratio of 15.6. For context, this is slightly lower than the tobacco sector's average forward P/E ratio of 16.4. This makes the stock a compelling buy for income investors.
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Kody Kester has positions in Abbott Laboratories, Lowe's, and Philip Morris International. The Motley Fool recommends Lowe's and Philip Morris International. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories With a greater than $180 billion market capitalization, Abbott Laboratories (NYSE: ABT) is one of the largest medical devices companies in the world. As a result of its dominance and a positive industry forecast, analysts believe that Abbott will deliver 12.6% annual earnings growth over the next five years. This should give Lowe's the flexibility to extend its six-decade streak of dividend growth moving forward. | Abbott Laboratories With a greater than $180 billion market capitalization, Abbott Laboratories (NYSE: ABT) is one of the largest medical devices companies in the world. And as the second-largest player in the $900 billion home improvement retail industry, Lowe's (NYSE: LOW) should remain a large beneficiary of the American dream. And the stock's forward P/E ratio of 13.6 is moderately lower than the home improvement retailer industry's average forward P/E ratio of 15.3. | Abbott Laboratories With a greater than $180 billion market capitalization, Abbott Laboratories (NYSE: ABT) is one of the largest medical devices companies in the world. Picking companies that are well-established in thriving industries with track records of dividend growth is as close to a guarantee of future dividend growth as possible. And with the dividend payout ratio expected to be 38.6% in 2022, the Dividend King should be able to hand out strong dividend raises in the years ahead. | Abbott Laboratories With a greater than $180 billion market capitalization, Abbott Laboratories (NYSE: ABT) is one of the largest medical devices companies in the world. But how can investors be sure they are picking companies that will pay dividends for many years? Given that Lowe's dividend payout ratio will be 27.4% in 2022, the stock's 2.3% dividend yield is quite safe. |
31527.0 | 2022-07-16 00:00:00 UTC | Want to Get Richer? 5 Best Stocks to Buy Now and Hold Forever | ABT | https://www.nasdaq.com/articles/want-to-get-richer-5-best-stocks-to-buy-now-and-hold-forever-0 | nan | nan | Healthcare is a massive industry; worldwide healthcare spending exceeded $8 trillion yearly in 2020 and 2021. Such an essential and lucrative field is fertile ground for great stocks.
You don't need to swing for a home run; hitting consistent base hits can get the job done. In other words, building wealth can be as easy as buying these five quality healthcare stocks and holding them long-term.
1. The dividend king of healthcare stocks
Johnson & Johnson (NYSE: JNJ) is arguably the top blue chip stock in the healthcare industry. The company's a massive conglomerate that makes consumer products, pharmaceutical drugs, and medical devices, generating more than $94 billion in annual sales worldwide.
JNJ Revenue (TTM) data by YCharts.
Johnson & Johnson's top and bottom lines have steadily grown larger for decades. The company's a Dividend King, famous for a resilient dividend that it's paid and raised for 60 consecutive years. It's one of two companies with an AAA credit rating from S&P, a distinction the U.S. government cannot even claim. The company will soon spin off its consumer products business, a potential shareholder bonus.
2. An insurance giant
UnitedHealth Group (NYSE: UNH) is one of the world's largest healthcare companies. It's a two-headed business consisting of UnitedHealthcare, which offers health insurance, and Optum, a healthcare solutions segment that provides pharmacy, services, and care access to patients. The company generated a trailing-12-months revenue of a whopping $295 billion.
UNH Revenue (TTM) data by YCharts.
The company's grown its revenue by an annual average of 11% and earnings-per-share by 14% over the past decade. Healthcare spending typically increases over time, and UnitedHealth should keep benefiting. The company's also becoming a solid dividend stock with 13 consecutive raises and enough share repurchases to lower the share count by 9% over the past 10 years.
3. A pharmaceutical leader
AbbVie (NYSE: ABBV) was spun off from the fourth stock on this list in 2013 and has become one of the world's largest pharmaceutical companies. It sells a variety of drugs and owns the Botox brand, but it's most famous for Humira, the world's second best-selling drug. The company generated sales totaling more than $56 billion over the past 12 months.
ABBV Revenue (TTM) data by YCharts.
Pharmaceutical companies protect their products with patents, but they eventually expire, and competitors flood the market with cheaper generic versions. Humira's protection expires next year, but AbbVie's made acquisitions and developed its pipeline to drive long-term growth. It's also an outstanding dividend stock that offers a 3.5% dividend yield.
4. The reliable conglomerate
Abbott Laboratories (NYSE: ABT) is a healthcare conglomerate that sells consumer products, medical devices, and diagnostic tools, and markets generic drugs outside the United States. After spinning off AbbVie in 2013, Abbott's built a business around cardiovascular conditions and diabetes. In all, Abbott reported $44 billion in sales over the last 12 months.
ABT Revenue (TTM) data by YCharts.
Abbott's business has thrived after restructuring; revenue has grown by an average of 15% annually over the past five years, while EPS has increased by 37% per year. Abbott's annual free cash flow has grown to $8 billion, which helped fund a 1.7% dividend and share repurchases that total $4 billion over the past year.
5. The COVID-19 vaccine company
Pfizer (NYSE: PFE) is up there with AbbVie as one of the world's pharmaceutical giants. Pfizer's one of the industry's oldest players, evolving over the years through acquisitions and mergers. You can see below how the business has surged to more than $92 billion in revenue for the last four quarters, largely thanks to its development of a COVID-19 vaccine. The vaccine accounted for 65% of revenue in the company's 2022 first quarter.
PFE Revenue (TTM) data by YCharts.
Pfizer's surge in growth probably won't last forever; demand could eventually fall for the COVID-19 vaccine if the virus goes away. However, you can see that the surge in growth has created billions in additional free cash flow for the company. Investors could see management turn that extra cash into shareholder value over the coming years through pipeline development, future acquisitions, or more share repurchases and dividends. Shareholders already get a dividend yielding 3%, making Pfizer a solid stock for passive income.
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Justin Pope has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends S&P Global. The Motley Fool recommends Johnson & Johnson and UnitedHealth Group. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The reliable conglomerate Abbott Laboratories (NYSE: ABT) is a healthcare conglomerate that sells consumer products, medical devices, and diagnostic tools, and markets generic drugs outside the United States. ABT Revenue (TTM) data by YCharts. The company's a massive conglomerate that makes consumer products, pharmaceutical drugs, and medical devices, generating more than $94 billion in annual sales worldwide. | The reliable conglomerate Abbott Laboratories (NYSE: ABT) is a healthcare conglomerate that sells consumer products, medical devices, and diagnostic tools, and markets generic drugs outside the United States. ABT Revenue (TTM) data by YCharts. The dividend king of healthcare stocks Johnson & Johnson (NYSE: JNJ) is arguably the top blue chip stock in the healthcare industry. | The reliable conglomerate Abbott Laboratories (NYSE: ABT) is a healthcare conglomerate that sells consumer products, medical devices, and diagnostic tools, and markets generic drugs outside the United States. ABT Revenue (TTM) data by YCharts. The dividend king of healthcare stocks Johnson & Johnson (NYSE: JNJ) is arguably the top blue chip stock in the healthcare industry. | The reliable conglomerate Abbott Laboratories (NYSE: ABT) is a healthcare conglomerate that sells consumer products, medical devices, and diagnostic tools, and markets generic drugs outside the United States. ABT Revenue (TTM) data by YCharts. The dividend king of healthcare stocks Johnson & Johnson (NYSE: JNJ) is arguably the top blue chip stock in the healthcare industry. |
31528.0 | 2022-07-15 00:00:00 UTC | Is DexCom Stock Too Pricey to Buy? | ABT | https://www.nasdaq.com/articles/is-dexcom-stock-too-pricey-to-buy | nan | nan | If you've had sticker shock while perusing the grocery store recently and decided not to buy something you normally would, DexCom (NASDAQ: DXCM) might not be the stock for you. The medical device company's status as a solid growth stock is much the same as it ever was, but it's not exactly the good deal that it might have been a few years ago.
Yet, there are a few reasons to believe that its high price tag could be justifiable for some investors. Let's break down this company's valuation and take a look at its growth prospects to see if buying a few shares could be a good financial decision for you.
There's no doubt that it's an expensive stock
If you're just learning about DexCom for the first time, it develops and sells continuous glucose monitors (CGMs), which people with type 2 diabetes use to control their blood sugar levels more effectively and comfortably than with traditional finger-stick tests that need to be done several times per day. It's also a company that's been great for investors with a total return of around 2,400% over the past 10 years. But after a run-up like that, it's no surprise to see a loss of momentum.
The trouble with DexCom's valuation is that it's currently at jaw-dropping levels. Take its price-to-earnings (P/E) ratio of around 196, for example. For reference, the average P/E multiple of a company in the medical devices industry is a grand total of a hair over 34. Could DexCom really be worth paying more than five and a half times per dollar of net income compared to an average stock in its industry? For most investors, the answer to that question depends on how much growth they expect to get from their purchase.
On that front, DexCom isn't half bad, but there are a couple of warning signs. Over the last two years (through the latest quarter), its net income fell by 8.3% to $211.7 million while revenue rose by 41.3%. Both of those are a far cry from the period between the start of 2018 and the start of 2020 when its sales jumped 105.4%. Competition could be to blame since powerful competitors like Abbott Laboratories are busy trying to steal market share, putting pressure on margins in the process.
Over the last three years, DexCom's selling, general, and administrative (SG&A) expenses shot up significantly as a share of its quarterly revenue as did its total quarterly expenses as a share of revenue. Given that the company doubled its U.S. sales force over the course of 2021 amid a major push with its direct-to-consumer sales operations, neither of the above is surprising, but it does indicate that the days of easy and relatively low-cost growth may be approaching an end.
And if margin pressure continues, it could drive the company into a few unprofitable quarters or worse, which would be an additional headwind on its stock price.
It could still keep growing and growing
Despite the recent slowdown in growth, it would be a big mistake to count DexCom out. For this year, management predicts that it'll make between $2.8 billion and a bit over $2.9 billion. Aside from the health and convenience benefits that patients love about its CGMs, they also tend to save money on glucose testing supplies to the tune of around $424 per month, according to management. Though competing products likely also offer significant savings compared to traditional glucose testing methods, competitors like Abbott Labs don't focus exclusively on making CGMs.
DexCom should be able to continue expanding into international markets and additional diabetes market segments more aggressively, even if chasing that growth is going to be slightly more expensive than in the past. In particular, its DexCom One monitor and software package is seeing significant traction in Lithuania, Latvia, Estonia, and Bulgaria, where more than 1% of the eligible patients in the market purchased the package within the first two months of it hitting the market. Rapid growth like that sure looks like a justification for the stock's high valuation.
But that doesn't mean it's a great pickup for everyone. Growth-hungry investors will find what they're looking for in DexCom, at least for the next few years. On the other hand, price-sensitive investors or traditional value investors should probably steer clear as it's a fact of life that the stock's rich valuation leaves it vulnerable to downward corrections during bear markets -- like the one we're in right now.
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Alex Carchidi has positions in Abbott Laboratories. The Motley Fool recommends DexCom. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Competition could be to blame since powerful competitors like Abbott Laboratories are busy trying to steal market share, putting pressure on margins in the process. Aside from the health and convenience benefits that patients love about its CGMs, they also tend to save money on glucose testing supplies to the tune of around $424 per month, according to management. Though competing products likely also offer significant savings compared to traditional glucose testing methods, competitors like Abbott Labs don't focus exclusively on making CGMs. | Could DexCom really be worth paying more than five and a half times per dollar of net income compared to an average stock in its industry? Over the last three years, DexCom's selling, general, and administrative (SG&A) expenses shot up significantly as a share of its quarterly revenue as did its total quarterly expenses as a share of revenue. Though competing products likely also offer significant savings compared to traditional glucose testing methods, competitors like Abbott Labs don't focus exclusively on making CGMs. | There's no doubt that it's an expensive stock If you're just learning about DexCom for the first time, it develops and sells continuous glucose monitors (CGMs), which people with type 2 diabetes use to control their blood sugar levels more effectively and comfortably than with traditional finger-stick tests that need to be done several times per day. Over the last three years, DexCom's selling, general, and administrative (SG&A) expenses shot up significantly as a share of its quarterly revenue as did its total quarterly expenses as a share of revenue. * They just revealed what they believe are the ten best stocks for investors to buy right now... and DexCom wasn't one of them! | There's no doubt that it's an expensive stock If you're just learning about DexCom for the first time, it develops and sells continuous glucose monitors (CGMs), which people with type 2 diabetes use to control their blood sugar levels more effectively and comfortably than with traditional finger-stick tests that need to be done several times per day. It's also a company that's been great for investors with a total return of around 2,400% over the past 10 years. * They just revealed what they believe are the ten best stocks for investors to buy right now... and DexCom wasn't one of them! |
31529.0 | 2022-07-14 00:00:00 UTC | What's in Store for Abbott Laboratories (ABT) in Q2 Earnings? | ABT | https://www.nasdaq.com/articles/whats-in-store-for-abbott-laboratories-abt-in-q2-earnings | nan | nan | Abbott Laboratories ABT is slated to report second-quarter 2022 results on Jul 20, before market open.
In the last-reported quarter, the company delivered an earnings surprise of 17.69%. Over the trailing four quarters, its earnings exceeded the Zacks Consensus Estimate on all the occasions, the average beat being 24.39%.
Let's see how things have shaped up prior to this announcement.
Factors at Play
Going by the surging fourth wave of coronavirus globally, the demand for testing is expected to have remained strong in the second quarter. In the first quarter of 2021, COVID test sales were $3.3 billion, more than 90% of which came from the rapid test, including BinaxNOW in the United States, Panbio internationally and ID NOW globally.
In the months of the second quarter, a significant rise in the number of COVID-19 cases in the United States and other major developed as well as emerging economies following the emergence of the new COVID variants are expected to have accelerated COVID-19 testing globally, giving a boost to Abbott’s Diagnostics business revenues.
Excluding COVID testing sales, worldwide Diagnostic sales are expected to have demonstrated strong growth in Q2 on the continuous rollout of Alinity, Abbott’s suite of diagnostic instruments as well as expanding menus across the company’s testing platforms.
Abbott Laboratories Price and EPS Surprise
Abbott Laboratories price-eps-surprise | Abbott Laboratories Quote
Within Nutrition, from the beginning of the pandemic till the last reported quarter, Abbott gained consistently in terms of adult nutrition products sales. In the second quarter too, the company is anticipated to have registered stellar U.S. and international growth in Ensure (adult complete and balanced nutrition brand) and Glucerna (diabetes nutrition brand). According to the company, the two factors that have been driving the adult nutrition growth rate are new users entering the category in this period and existing customers increasing their usage.
Within pediatric nutrition, the company is expected to have registered growth in the United States and outsidebanking on combined toddler nutrition products, which includes the company’s PediaSure and Pedialyte brands. However, in February, the company initiated a voluntary recall of certain infant formula products manufactured at one of the company’s U.S. facilities. These include the company’s market-leading Similac and Elecare. These are expected to have reduced the company’s market share in the infant formula space, thereby hampering Q2 sales within the pediatric nutrition arm.
Abbott’s other consumer-facing businesses, which include diabetes care and established pharmaceuticals, have been catching up, backed by new product instructions. This uptrend is likely to have majorly contributed to the company's second-quarter performance.
Within Established Pharmaceuticals Division (EPD), the company has been witnessing visible signs of a rebound, reflecting sequential improvement based on its stable business model. New product launches across key emerging markets have been majorly boosting the EPD business in recent months. The second-quarter performance is likely to have been driven by growing customer demand for core therapeutic lines, including gastroenterology, respiratory and CNS pain management.
Revenues are likely to have improved in the company’s Diabetes Care business, as it has been on a substantially strong growth trajectory in recent times. Abbott has been in the limelight for developments in its flagship, sensor-based continuous glucose monitoring system, widely known as the FreeStyle Libre System.
Estimates
For second-quarter 2022, the Zacks Consensus Estimate for total revenues of $10.37 billion indicates a 1.4% rise from the prior-year comparable quarter’s reported figure. The consensus mark for earnings is pegged at $1.10, suggesting a 5.9% decline year on year.
Earnings Whispers
Per our proven model, a stock with the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) has higher chances of beating estimates. However, this is not the case here as you can see:
Earnings ESP: Abbott has an Earnings ESP of -8.08%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: It currently carries a Zacks Rank #3.
Stocks Worth a Look
Here are some medical stocks worth considering as these have the right combination of elements to post an earnings beat this quarter.
Merck & Co., Inc. MRK has an Earnings ESP of +7.18% and a Zacks Rank of #2. The company will release second-quarter 2022 results on Jul 28. You can see the complete list of today’s Zacks #1 Rank stocks here.
Merck has a long-term earnings growth rate of 10.1%. MRK’s earnings yield of 7.75% compares favorably with the industry’s 7.63%.
Alcon Inc. ALC has an Earnings ESP of +5.07% and a Zacks Rank of #2. Alcon is expected torelease second-quarter 2022 results on Aug 16.
Alcon long-term earnings growth rate is estimated at 14.3%. ALC’s earnings yield of 3.41% compares favorably with the industry’s (8.09%).
QuidelOrtho Corporation QDEL currently has an Earnings ESP of +9.17% and a Zacks Rank of #2. QuidelOrthois expected to release second-quarter fiscal 2022 results on Aug 4.
QDEL’s earnings yield of 14.83% compares favorably with the industry’s (-2.63%).
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories ABT is slated to report second-quarter 2022 results on Jul 20, before market open. Abbott Laboratories (ABT): Free Stock Analysis Report According to the company, the two factors that have been driving the adult nutrition growth rate are new users entering the category in this period and existing customers increasing their usage. | Abbott Laboratories (ABT): Free Stock Analysis Report Abbott Laboratories ABT is slated to report second-quarter 2022 results on Jul 20, before market open. Within pediatric nutrition, the company is expected to have registered growth in the United States and outsidebanking on combined toddler nutrition products, which includes the company’s PediaSure and Pedialyte brands. | Abbott Laboratories ABT is slated to report second-quarter 2022 results on Jul 20, before market open. Abbott Laboratories (ABT): Free Stock Analysis Report Abbott Laboratories Price and EPS Surprise Abbott Laboratories price-eps-surprise | Abbott Laboratories Quote Within Nutrition, from the beginning of the pandemic till the last reported quarter, Abbott gained consistently in terms of adult nutrition products sales. | Abbott Laboratories ABT is slated to report second-quarter 2022 results on Jul 20, before market open. Abbott Laboratories (ABT): Free Stock Analysis Report Abbott Laboratories Price and EPS Surprise Abbott Laboratories price-eps-surprise | Abbott Laboratories Quote Within Nutrition, from the beginning of the pandemic till the last reported quarter, Abbott gained consistently in terms of adult nutrition products sales. |
31530.0 | 2022-07-14 00:00:00 UTC | 2 Top Healthcare Stocks to Buy and Hold for the Long Haul | ABT | https://www.nasdaq.com/articles/2-top-healthcare-stocks-to-buy-and-hold-for-the-long-haul | nan | nan | Market conditions change relatively frequently. Equities seemed to be doing fine a year ago, but the picture doesn't look so good now. However, the basic playbook of the long-term investor remains the same regardless of these changing dynamics: hold on to shares of excellent companies through thick and thin -- and even as the market is experiencing a downturn.
Let's look at two healthcare stocks worth buying today and holding on to for a long while: Intuitive Surgical (NASDAQ: ISRG) and Abbott Laboratories (NYSE: ABT).
Intuitive Surgical
Medical devices giant Intuitive Surgical has some critical attributes that companies need to succeed in the long run. Thanks to its da Vinci Surgical System, it is the leader in its industry, the robotic-assisted surgery (RAS) market. The company's business also benefits from a strong competitive edge. The da Vinci system typically costs between $500,000 and $2.5 million.
That's not an insignificant sum for many healthcare facilities, and it is unlikely that many will change to one of Intuitive Surgical's competitors. In other words, the company benefits from high switching costs. Its products are also protected by hundreds of patents in the U.S. and abroad.
Next, the RAS market is arguably still in its infancy. Last year, medical devices specialist Medtronic estimated that only 3% of surgeries worldwide are performed robotically.
Intuitive Surgical's sales should continue growing as RAS surgeries make headway. The company makes the bulk of its revenue both by selling its da Vinci systems as well as through its instruments and accessories. Revenue from instruments and accessories is tied to the number of procedures performed. Analysts forecast that the company's revenue will grow at a 17.9% annualized rate over the next five years.
Intuitive Surgical did encounter serious headwinds during the pandemic. The volume of elective surgeries dropped amid the outbreak, which harmed the company's top line. But these pandemic-related obstacles are temporary. Competition may be a more permanent challenge for Intuitive Surgical. Medtronic and other healthcare giants, including Johnson & Johnson, have thrown their hats into the RAS industry.
Even so, it isn't rare to see multiple companies become highly successful in the same market. While competitors may eat up some of Intuitive Surgical's shares, in the long run there should be more than enough space for these companies to coexist. That's why Intuitive Surgical looks like an attractive healthcare stock buy for investors with a horizon of a decade or more.
2. Abbott Laboratories
Abbott is another medical devices specialist, but its business is more diversified than Intuitive Surgical's. Abbott operates across three other divisions, including diagnostics, established pharmaceuticals, and nutrition. The diagnostics segment performed well amid the pandemic; Abbott manufactured and sold various successful coronavirus diagnostic tests, helping its revenue and earnings stay afloat while sales of medical devices took a hit.
Still, Abbott is best-known for its medical devices and boasts dozens of them, many of which also benefit from patent protection. Some of Abbott's most important products are within its structural heart, heart failure, and diabetes care units, and there are important reasons why. The incidence of chronic illnesses (including diabetes) is on the rise, and at the same time, the world's population is aging.
Older adults are more likely to suffer from various heart problems, and of course, a rise in the population of diabetes patients will increase the demand for innovative products of the sort Abbott Laboratories offers. The company's devices in these markets include its Amplatzer Amulet and MitraClip, both of which are devices to treat various serious heart-related conditions.
Meanwhile, Abbott's FreeStyle Libre is a leading continuous glucose device system that continues to make headway. Expect Abbott Laboratories' top line to be northbound thanks to these and many other products. Analysts see the company's revenue growing by a 12.6% annual rate over the coming five years, which would be a solid performance for a medical devices giant.
Abbott is also a Dividend King, having raised its payouts for 50 consecutive years. While the company's yield of 1.72% does not seem particularly generous -- it is barely higher than the S&P 500's 1.69% -- Abbott's dividend payout ratio of 39.7% is very conservative and leaves room for more increases.
Between Abbott's dividend, diversified business, and growth opportunities, the company's shares look attractive for the long run.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Let's look at two healthcare stocks worth buying today and holding on to for a long while: Intuitive Surgical (NASDAQ: ISRG) and Abbott Laboratories (NYSE: ABT). However, the basic playbook of the long-term investor remains the same regardless of these changing dynamics: hold on to shares of excellent companies through thick and thin -- and even as the market is experiencing a downturn. Older adults are more likely to suffer from various heart problems, and of course, a rise in the population of diabetes patients will increase the demand for innovative products of the sort Abbott Laboratories offers. | Let's look at two healthcare stocks worth buying today and holding on to for a long while: Intuitive Surgical (NASDAQ: ISRG) and Abbott Laboratories (NYSE: ABT). Intuitive Surgical Medical devices giant Intuitive Surgical has some critical attributes that companies need to succeed in the long run. Intuitive Surgical's sales should continue growing as RAS surgeries make headway. | Let's look at two healthcare stocks worth buying today and holding on to for a long while: Intuitive Surgical (NASDAQ: ISRG) and Abbott Laboratories (NYSE: ABT). Intuitive Surgical Medical devices giant Intuitive Surgical has some critical attributes that companies need to succeed in the long run. Abbott Laboratories Abbott is another medical devices specialist, but its business is more diversified than Intuitive Surgical's. | Let's look at two healthcare stocks worth buying today and holding on to for a long while: Intuitive Surgical (NASDAQ: ISRG) and Abbott Laboratories (NYSE: ABT). Market conditions change relatively frequently. Intuitive Surgical Medical devices giant Intuitive Surgical has some critical attributes that companies need to succeed in the long run. |
31531.0 | 2022-07-13 00:00:00 UTC | Should You Buy Boston Scientific Stock At $38? | ABT | https://www.nasdaq.com/articles/should-you-buy-boston-scientific-stock-at-%2438 | nan | nan | After a 13% fall year-to-date, at the current levels, we believe Boston Scientific stock (NYSE: BSX) is undervalued. BSX stock fell from around $43 in early January to under $38 now. The YTD 13% fall for BSX compares with -20% returns for the broader S&P500 index.
Looking at the longer term, BSX stock is down 16% from levels seen in late 2019. This marks an underperformance compared to some of its peers, with Abbott stock rising 25%, Stryker stock seeing a 6% fall, and the S&P 500 index rising 19% over the same period.
This 16% fall for BSX stock since late 2019 was driven by: 1. the company’s P/E ratio, which fell 19% to 23x trailing adjusted earnings currently, compared to 28x in 2019, partly offset by 2. a 4% rise in the company’s earnings to $1.65 for the last twelve months, vs. $1.58 in 2019, on a per share and adjusted basis.
Boston Scientific’s revenue grew 13% to $12.2 billion over the last twelve months, compared to $10.7 billion in 2019, primarily led by higher sales for its peripheral interventions, endoscopy, and women’s health products. Its Left Atrial Appendage Closure (LAAC) device – Watchman – has gained market share, driven by a higher physician utilization rate, bolstering its overall revenue growth. The company faced headwinds in 2020 due to a decline in the total number of elective surgeries performed. However, it saw a sharp rebound in 2021, with sales across segments higher than in 2019, before the pandemic.
However, the company’s net margins have declined around 130 bps to 19.5% currently, compared to 20.8% in 2019, due to higher costs. The company’s COGS grew 19% between 2019 and 2021, for an 11% rise in total sales. Also, Boston Scientific’s total shares increased 2% since 2019 to 1.4 billion now. A decline in net margins and rise in total shares partly offset the revenue growth since 2019, weighing on its EPS growth.
Over the recent quarters, Boston Scientific has benefited from a rise in elective procedure volume, a trend expected to continue in the near term. The company’s recent acquisition of Baylis Medical should bolster its overall revenue growth going forward. Despite the ongoing supply chain disruption, the company posted upbeat Q1 results and raised its full-year outlook.
While the company has good prospects, it faces headwinds from the current weakness in broader markets. The S&P500 has now entered near bear market territory with rising concerns of slowing economic growth given the high inflation, Fed action, and supply chain disruptions. These factors may impact Boston Scientific’s performance, as well.
However, some of these factors appear to have already been priced in by the investors, given the 13% decline in BSX stock this year. We estimate Boston Scientific’s valuation to be $47 per share, reflecting a 25% upside from its current market price of $37, implying that investors are likely to be better off buying BSX stock in the recent dip for solid gains in the long-term. At its current levels, BSX stock is trading at just 21x forward adjusted earnings, compared to the last three-year average of 31x, making the stock attractive from a valuation point of view.
While BSX stock looks undervalued, it is helpful to see how Boston Scientific’s Peers fare on metrics that matter. You will find other valuable comparisons for companies across industries at Peer Comparisons.
Furthermore, the Covid-19 crisis has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for Xylem vs. Merck.
With inflation rising and the Fed raising interest rates, among other factors, BSX stock has fallen 13% this year. Can it drop more? See how low Boston Scientific stock can go by comparing its decline in previous market crashes. Here is a performance summary of all stocks in previous market crashes.
What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.
Returns Jul 2022
MTD [1] 2022
YTD [1] 2017-22
Total [2]
BSX Return 1% -12% 73%
S&P 500 Return 2% -19% 72%
Trefis Multi-Strategy Portfolio 3% -20% 213%
[1] Month-to-date and year-to-date as of 7/12/2022
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market-Beating Portfolios
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Its Left Atrial Appendage Closure (LAAC) device – Watchman – has gained market share, driven by a higher physician utilization rate, bolstering its overall revenue growth. The S&P500 has now entered near bear market territory with rising concerns of slowing economic growth given the high inflation, Fed action, and supply chain disruptions. We estimate Boston Scientific’s valuation to be $47 per share, reflecting a 25% upside from its current market price of $37, implying that investors are likely to be better off buying BSX stock in the recent dip for solid gains in the long-term. | This 16% fall for BSX stock since late 2019 was driven by: 1. the company’s P/E ratio, which fell 19% to 23x trailing adjusted earnings currently, compared to 28x in 2019, partly offset by 2. a 4% rise in the company’s earnings to $1.65 for the last twelve months, vs. $1.58 in 2019, on a per share and adjusted basis. A decline in net margins and rise in total shares partly offset the revenue growth since 2019, weighing on its EPS growth. Total [2] BSX Return 1% -12% 73% S&P 500 Return 2% -19% 72% Trefis Multi-Strategy Portfolio 3% -20% 213% [1] Month-to-date and year-to-date as of 7/12/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | This 16% fall for BSX stock since late 2019 was driven by: 1. the company’s P/E ratio, which fell 19% to 23x trailing adjusted earnings currently, compared to 28x in 2019, partly offset by 2. a 4% rise in the company’s earnings to $1.65 for the last twelve months, vs. $1.58 in 2019, on a per share and adjusted basis. We estimate Boston Scientific’s valuation to be $47 per share, reflecting a 25% upside from its current market price of $37, implying that investors are likely to be better off buying BSX stock in the recent dip for solid gains in the long-term. Total [2] BSX Return 1% -12% 73% S&P 500 Return 2% -19% 72% Trefis Multi-Strategy Portfolio 3% -20% 213% [1] Month-to-date and year-to-date as of 7/12/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | This 16% fall for BSX stock since late 2019 was driven by: 1. the company’s P/E ratio, which fell 19% to 23x trailing adjusted earnings currently, compared to 28x in 2019, partly offset by 2. a 4% rise in the company’s earnings to $1.65 for the last twelve months, vs. $1.58 in 2019, on a per share and adjusted basis. A decline in net margins and rise in total shares partly offset the revenue growth since 2019, weighing on its EPS growth. See how low Boston Scientific stock can go by comparing its decline in previous market crashes. |
31532.0 | 2022-07-13 00:00:00 UTC | Enfamil maker Reckitt flies baby formula to U.S. from Singapore | ABT | https://www.nasdaq.com/articles/enfamil-maker-reckitt-flies-baby-formula-to-u.s.-from-singapore | nan | nan | By Richa Naidu
LONDON, July 13(Reuters) - Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, shoring up supplies amid a months-long shortage in the United States, the company said.
Similac maker Abbott Laboratories ABT.N in February recalled dozens of types of baby formula, taking the country's biggest industry player off the market and creating one of the biggest U.S. food shortages in recent American history.
(Reporting by Richa Naidu; editing by David Evans)
((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +44 755 755 9587;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Similac maker Abbott Laboratories ABT.N in February recalled dozens of types of baby formula, taking the country's biggest industry player off the market and creating one of the biggest U.S. food shortages in recent American history. By Richa Naidu LONDON, July 13(Reuters) - Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, shoring up supplies amid a months-long shortage in the United States, the company said. (Reporting by Richa Naidu; editing by David Evans) ((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +44 755 755 9587;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Similac maker Abbott Laboratories ABT.N in February recalled dozens of types of baby formula, taking the country's biggest industry player off the market and creating one of the biggest U.S. food shortages in recent American history. By Richa Naidu LONDON, July 13(Reuters) - Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, shoring up supplies amid a months-long shortage in the United States, the company said. (Reporting by Richa Naidu; editing by David Evans) ((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +44 755 755 9587;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Similac maker Abbott Laboratories ABT.N in February recalled dozens of types of baby formula, taking the country's biggest industry player off the market and creating one of the biggest U.S. food shortages in recent American history. By Richa Naidu LONDON, July 13(Reuters) - Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, shoring up supplies amid a months-long shortage in the United States, the company said. (Reporting by Richa Naidu; editing by David Evans) ((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +44 755 755 9587;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Similac maker Abbott Laboratories ABT.N in February recalled dozens of types of baby formula, taking the country's biggest industry player off the market and creating one of the biggest U.S. food shortages in recent American history. By Richa Naidu LONDON, July 13(Reuters) - Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, shoring up supplies amid a months-long shortage in the United States, the company said. (Reporting by Richa Naidu; editing by David Evans) ((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +44 755 755 9587;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
31533.0 | 2022-07-13 00:00:00 UTC | Should You Invest in the iShares U.S. Medical Devices ETF (IHI)? | ABT | https://www.nasdaq.com/articles/should-you-invest-in-the-ishares-u.s.-medical-devices-etf-ihi-1 | nan | nan | The iShares U.S. Medical Devices ETF (IHI) was launched on 05/01/2006, and is a passively managed exchange traded fund designed to offer broad exposure to the Healthcare - Medical Devices segment of the equity market.
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Healthcare - Medical Devices is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 3, placing it in top 19%.
Index Details
The fund is sponsored by Blackrock. It has amassed assets over $6.49 billion, making it one of the largest ETFs attempting to match the performance of the Healthcare - Medical Devices segment of the equity market. IHI seeks to match the performance of the Dow Jones U.S. Select Medical Equipment Index before fees and expenses.
The Dow Jones U.S. Select Medical Equipment Index measures the performance of the medical equipment sector of the U.S. equity market.
Costs
Expense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.
Annual operating expenses for this ETF are 0.41%, making it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 0.32%.
Sector Exposure and Top Holdings
It is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Healthcare sector--about 100% of the portfolio.
Looking at individual holdings, Thermo Fisher Scientific Inc (TMO) accounts for about 15.42% of total assets, followed by Abbott Laboratories (ABT) and Medtronic Plc (MDT).
The top 10 holdings account for about 72.60% of total assets under management.
Performance and Risk
So far this year, IHI has lost about -22.91%, and is down about -17.91% in the last one year (as of 07/13/2022). During this past 52-week period, the fund has traded between $47.65 and $67.15.
The ETF has a beta of 0.89 and standard deviation of 24.69% for the trailing three-year period, making it a medium risk choice in the space. With about 70 holdings, it effectively diversifies company-specific risk.
Alternatives
IShares U.S. Medical Devices ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, IHI is a reasonable option for those seeking exposure to the Health Care ETFs area of the market. Investors might also want to consider some other ETF options in the space.
First Trust Indxx Medical Devices ETF (MDEV) tracks INDXX GLOBAL MEDICAL EQUIPMENT INDEX and the SPDR S&P Health Care Equipment ETF (XHE) tracks S&P Health Care Equipment Select Industry Index. First Trust Indxx Medical Devices ETF has $1.86 million in assets, SPDR S&P Health Care Equipment ETF has $391.93 million. MDEV has an expense ratio of 0.70% and XHE charges 0.35%.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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iShares U.S. Medical Devices ETF (IHI): ETF Research Reports
Abbott Laboratories (ABT): Free Stock Analysis Report
Medtronic PLC (MDT): Free Stock Analysis Report
Thermo Fisher Scientific Inc. (TMO): Free Stock Analysis Report
SPDR S&P Health Care Equipment ETF (XHE): ETF Research Reports
First Trust Indxx Medical Devices ETF (MDEV): ETF Research Reports
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at individual holdings, Thermo Fisher Scientific Inc (TMO) accounts for about 15.42% of total assets, followed by Abbott Laboratories (ABT) and Medtronic Plc (MDT). Abbott Laboratories (ABT): Free Stock Analysis Report It has amassed assets over $6.49 billion, making it one of the largest ETFs attempting to match the performance of the Healthcare - Medical Devices segment of the equity market. | Looking at individual holdings, Thermo Fisher Scientific Inc (TMO) accounts for about 15.42% of total assets, followed by Abbott Laboratories (ABT) and Medtronic Plc (MDT). Abbott Laboratories (ABT): Free Stock Analysis Report First Trust Indxx Medical Devices ETF (MDEV) tracks INDXX GLOBAL MEDICAL EQUIPMENT INDEX and the SPDR S&P Health Care Equipment ETF (XHE) tracks S&P Health Care Equipment Select Industry Index. | Looking at individual holdings, Thermo Fisher Scientific Inc (TMO) accounts for about 15.42% of total assets, followed by Abbott Laboratories (ABT) and Medtronic Plc (MDT). Abbott Laboratories (ABT): Free Stock Analysis Report Alternatives IShares U.S. Medical Devices ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. | Looking at individual holdings, Thermo Fisher Scientific Inc (TMO) accounts for about 15.42% of total assets, followed by Abbott Laboratories (ABT) and Medtronic Plc (MDT). Abbott Laboratories (ABT): Free Stock Analysis Report The iShares U.S. Medical Devices ETF (IHI) was launched on 05/01/2006, and is a passively managed exchange traded fund designed to offer broad exposure to the Healthcare - Medical Devices segment of the equity market. |
31534.0 | 2022-07-13 00:00:00 UTC | Abbott (ABT) Dips More Than Broader Markets: What You Should Know | ABT | https://www.nasdaq.com/articles/abbott-abt-dips-more-than-broader-markets%3A-what-you-should-know-1 | nan | nan | In the latest trading session, Abbott (ABT) closed at $106.21, marking a -1.93% move from the previous day. This change lagged the S&P 500's daily loss of 0.45%. At the same time, the Dow lost 0.67%, and the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 5.21% over the past month, outpacing the Medical sector's gain of 2.19% and the S&P 500's loss of 1.89% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. This is expected to be July 20, 2022. In that report, analysts expect Abbott to post earnings of $1.10 per share. This would mark a year-over-year decline of 5.98%. Meanwhile, our latest consensus estimate is calling for revenue of $10.37 billion, up 1.41% from the prior-year quarter.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.81 per share and revenue of $41.65 billion. These results would represent year-over-year changes of -7.68% and -3.31%, respectively.
Investors might also notice recent changes to analyst estimates for Abbott. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.64% lower. Abbott is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Abbott's current valuation metrics, including its Forward P/E ratio of 22.5. For comparison, its industry has an average Forward P/E of 20.92, which means Abbott is trading at a premium to the group.
We can also see that ABT currently has a PEG ratio of 3.93. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ABT's industry had an average PEG ratio of 1.76 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 137, which puts it in the bottom 46% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Abbott Laboratories (ABT): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the latest trading session, Abbott (ABT) closed at $106.21, marking a -1.93% move from the previous day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.81 per share and revenue of $41.65 billion. We can also see that ABT currently has a PEG ratio of 3.93. | In the latest trading session, Abbott (ABT) closed at $106.21, marking a -1.93% move from the previous day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.81 per share and revenue of $41.65 billion. We can also see that ABT currently has a PEG ratio of 3.93. | In the latest trading session, Abbott (ABT) closed at $106.21, marking a -1.93% move from the previous day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.81 per share and revenue of $41.65 billion. We can also see that ABT currently has a PEG ratio of 3.93. | In the latest trading session, Abbott (ABT) closed at $106.21, marking a -1.93% move from the previous day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.81 per share and revenue of $41.65 billion. We can also see that ABT currently has a PEG ratio of 3.93. |
31535.0 | 2022-07-13 00:00:00 UTC | Enfamil maker Reckitt flies baby formula to U.S. from Singapore | ABT | https://www.nasdaq.com/articles/enfamil-maker-reckitt-flies-baby-formula-to-u.s.-from-singapore-0 | nan | nan | By Richa Naidu
LONDON, July 13 (Reuters) - Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, shoring up supplies amid a months-long shortage in the United States, the company said.
Similac maker Abbott Laboratories ABT.N in February recalled dozens of types of baby formula, taking the country's biggest industry player off the market and creating one of the biggest U.S. food shortages in recent American history.
The amount Reckitt imported on Wednesday is equivalent to 2 million 8-oz servings. In July, Reckitt will bring into the country about 192 metric tons of baby formula, equal to more than 5.9 million 8-oz servings, the company said.
Reckitt also has the Food & Drug Administration's (FDA) approval to import the equivalent of 66 million servings between now and November, it added.
Wednesday's shipment of infant formula base powder will arrive from Reckitt's Tuas, Singapore, facility and will be transported to the company’s Wanamingo facility in Minnesota for finishing and packaging.
(Reporting by Richa Naidu; editing by David Evans, Alexandra Hudson)
((richa.naidu@tr.com; Follow me on Twitter https://twitter.com/Richa_Writes; +44 755 755 9587;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Similac maker Abbott Laboratories ABT.N in February recalled dozens of types of baby formula, taking the country's biggest industry player off the market and creating one of the biggest U.S. food shortages in recent American history. By Richa Naidu LONDON, July 13 (Reuters) - Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, shoring up supplies amid a months-long shortage in the United States, the company said. In July, Reckitt will bring into the country about 192 metric tons of baby formula, equal to more than 5.9 million 8-oz servings, the company said. | Similac maker Abbott Laboratories ABT.N in February recalled dozens of types of baby formula, taking the country's biggest industry player off the market and creating one of the biggest U.S. food shortages in recent American history. By Richa Naidu LONDON, July 13 (Reuters) - Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, shoring up supplies amid a months-long shortage in the United States, the company said. The amount Reckitt imported on Wednesday is equivalent to 2 million 8-oz servings. | Similac maker Abbott Laboratories ABT.N in February recalled dozens of types of baby formula, taking the country's biggest industry player off the market and creating one of the biggest U.S. food shortages in recent American history. By Richa Naidu LONDON, July 13 (Reuters) - Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, shoring up supplies amid a months-long shortage in the United States, the company said. In July, Reckitt will bring into the country about 192 metric tons of baby formula, equal to more than 5.9 million 8-oz servings, the company said. | Similac maker Abbott Laboratories ABT.N in February recalled dozens of types of baby formula, taking the country's biggest industry player off the market and creating one of the biggest U.S. food shortages in recent American history. By Richa Naidu LONDON, July 13 (Reuters) - Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, shoring up supplies amid a months-long shortage in the United States, the company said. The amount Reckitt imported on Wednesday is equivalent to 2 million 8-oz servings. |
31536.0 | 2022-07-12 00:00:00 UTC | Ex-Dividend Reminder: Abbott Laboratories, Life Storage and Bank OZK | ABT | https://www.nasdaq.com/articles/ex-dividend-reminder%3A-abbott-laboratories-life-storage-and-bank-ozk | nan | nan | Looking at the universe of stocks we cover at Dividend Channel, on 7/14/22, Abbott Laboratories (Symbol: ABT), Life Storage Inc (Symbol: LSI), and Bank OZK (Symbol: OZK) will all trade ex-dividend for their respective upcoming dividends. Abbott Laboratories will pay its quarterly dividend of $0.47 on 8/15/22, Life Storage Inc will pay its quarterly dividend of $1.08 on 7/26/22, and Bank OZK will pay its quarterly dividend of $0.32 on 7/22/22. As a percentage of ABT's recent stock price of $109.60, this dividend works out to approximately 0.43%, so look for shares of Abbott Laboratories to trade 0.43% lower — all else being equal — when ABT shares open for trading on 7/14/22. Similarly, investors should look for LSI to open 0.95% lower in price and for OZK to open 0.86% lower, all else being equal.
Below are dividend history charts for ABT, LSI, and OZK, showing historical dividends prior to the most recent ones declared.
Abbott Laboratories (Symbol: ABT):
Life Storage Inc (Symbol: LSI):
Bank OZK (Symbol: OZK):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 1.72% for Abbott Laboratories, 3.81% for Life Storage Inc, and 3.43% for Bank OZK.
In Tuesday trading, Abbott Laboratories shares are currently up about 0.7%, Life Storage Inc shares are off about 0.4%, and Bank OZK shares are off about 0.2% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As a percentage of ABT's recent stock price of $109.60, this dividend works out to approximately 0.43%, so look for shares of Abbott Laboratories to trade 0.43% lower — all else being equal — when ABT shares open for trading on 7/14/22. Looking at the universe of stocks we cover at Dividend Channel, on 7/14/22, Abbott Laboratories (Symbol: ABT), Life Storage Inc (Symbol: LSI), and Bank OZK (Symbol: OZK) will all trade ex-dividend for their respective upcoming dividends. Below are dividend history charts for ABT, LSI, and OZK, showing historical dividends prior to the most recent ones declared. | Looking at the universe of stocks we cover at Dividend Channel, on 7/14/22, Abbott Laboratories (Symbol: ABT), Life Storage Inc (Symbol: LSI), and Bank OZK (Symbol: OZK) will all trade ex-dividend for their respective upcoming dividends. Abbott Laboratories (Symbol: ABT): Life Storage Inc (Symbol: LSI): Bank OZK (Symbol: OZK): In general, dividends are not always predictable, following the ups and downs of company profits over time. As a percentage of ABT's recent stock price of $109.60, this dividend works out to approximately 0.43%, so look for shares of Abbott Laboratories to trade 0.43% lower — all else being equal — when ABT shares open for trading on 7/14/22. | Looking at the universe of stocks we cover at Dividend Channel, on 7/14/22, Abbott Laboratories (Symbol: ABT), Life Storage Inc (Symbol: LSI), and Bank OZK (Symbol: OZK) will all trade ex-dividend for their respective upcoming dividends. Abbott Laboratories (Symbol: ABT): Life Storage Inc (Symbol: LSI): Bank OZK (Symbol: OZK): In general, dividends are not always predictable, following the ups and downs of company profits over time. As a percentage of ABT's recent stock price of $109.60, this dividend works out to approximately 0.43%, so look for shares of Abbott Laboratories to trade 0.43% lower — all else being equal — when ABT shares open for trading on 7/14/22. | As a percentage of ABT's recent stock price of $109.60, this dividend works out to approximately 0.43%, so look for shares of Abbott Laboratories to trade 0.43% lower — all else being equal — when ABT shares open for trading on 7/14/22. Looking at the universe of stocks we cover at Dividend Channel, on 7/14/22, Abbott Laboratories (Symbol: ABT), Life Storage Inc (Symbol: LSI), and Bank OZK (Symbol: OZK) will all trade ex-dividend for their respective upcoming dividends. Below are dividend history charts for ABT, LSI, and OZK, showing historical dividends prior to the most recent ones declared. |
31537.0 | 2022-07-12 00:00:00 UTC | Target to add Bobbie brand infant formula to stores as shortage persists | ABT | https://www.nasdaq.com/articles/target-to-add-bobbie-brand-infant-formula-to-stores-as-shortage-persists-0 | nan | nan | By Jessica DiNapoli
NEW YORK, July 12 (Reuters) - Target Corp TGT.N has begun carrying Bobbie brand infant formula in some stores this week and the vast majority of its locations will be selling the product by September, as the national shortage persists.
Bobbie, which has previously sold to consumers exclusively through its website, has increased its manufacturing output over the last few months by more than 30%, and is hoping to expand production further, Chief Executive Laura Modi said in an interview.
"We are prepared for this, and have enough inventory to show up on shelves across the country," Modi told Reuters.
Target currently has online and in-store limits on how much formula shoppers can buy. Bobbie formula will be available on Target's website this month. Target has roughly 1,900 U.S. stores.
The U.S. infant formula shortage stems in part from the closure of an Abbott Laboratories ABT.N plant that manufactured specialty formulas, which re-opened this month. The plant closed after reports of bacterial infections and death in babies who consumed formula made at the plant.
The U.S. Food and Drug Administration this month said it is looking at ways to make it easier for new baby formula makers to enter the U.S. market and for those allowed under a temporary program to remain in the country for longer to mitigate the shortage.
Target carries U.K.-made formula Kendamil, recently approved under the program.
The in-stock nationwide availability of powder baby formula has dipped a bit in recent weeks, to 69.6% for the week of July 3, from 70.7% in the week ending June 26, according to data service IRI.
Bobbie, which is manufactured in Perrigo Co PRGO.N plants, currently has a waitlist to become a new subscriber online.
Modi said the company has wanted to expand into brick-and-mortar retail because subscribers have asked where they can pick up extra cans if they are using more formula than expected.
Bobbie's deal with Target includes displays at the ends of shopping aisles to educate consumers on the product, Modi said. The displays feature mats of turf to indicate the formula uses milk from grass-fed cows, she said.
"The formula aisle is a miserable, sad place to walk down," Modi said, explaining that it often leaves new parents feeling guilty and dumbfounded. "Our desire to show up in retail is to change retail, and change how formula is showing up."
(Reporting by Jessica DiNapoli in New York; additional reporting by Siddharth Cavale in New York; Editing by Bill Berkrot)
((Jessica.DiNapoli@thomsonreuters.com; 845-591-4428;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The U.S. infant formula shortage stems in part from the closure of an Abbott Laboratories ABT.N plant that manufactured specialty formulas, which re-opened this month. By Jessica DiNapoli NEW YORK, July 12 (Reuters) - Target Corp TGT.N has begun carrying Bobbie brand infant formula in some stores this week and the vast majority of its locations will be selling the product by September, as the national shortage persists. Bobbie, which has previously sold to consumers exclusively through its website, has increased its manufacturing output over the last few months by more than 30%, and is hoping to expand production further, Chief Executive Laura Modi said in an interview. | The U.S. infant formula shortage stems in part from the closure of an Abbott Laboratories ABT.N plant that manufactured specialty formulas, which re-opened this month. By Jessica DiNapoli NEW YORK, July 12 (Reuters) - Target Corp TGT.N has begun carrying Bobbie brand infant formula in some stores this week and the vast majority of its locations will be selling the product by September, as the national shortage persists. Bobbie's deal with Target includes displays at the ends of shopping aisles to educate consumers on the product, Modi said. | The U.S. infant formula shortage stems in part from the closure of an Abbott Laboratories ABT.N plant that manufactured specialty formulas, which re-opened this month. By Jessica DiNapoli NEW YORK, July 12 (Reuters) - Target Corp TGT.N has begun carrying Bobbie brand infant formula in some stores this week and the vast majority of its locations will be selling the product by September, as the national shortage persists. Bobbie formula will be available on Target's website this month. | The U.S. infant formula shortage stems in part from the closure of an Abbott Laboratories ABT.N plant that manufactured specialty formulas, which re-opened this month. By Jessica DiNapoli NEW YORK, July 12 (Reuters) - Target Corp TGT.N has begun carrying Bobbie brand infant formula in some stores this week and the vast majority of its locations will be selling the product by September, as the national shortage persists. Bobbie formula will be available on Target's website this month. |
31538.0 | 2022-07-12 00:00:00 UTC | Target to add Bobbie brand infant formula to stores as shortage persists | ABT | https://www.nasdaq.com/articles/target-to-add-bobbie-brand-infant-formula-to-stores-as-shortage-persists | nan | nan | By Jessica DiNapoli
NEW YORK, July 12 (Reuters) - Target Corp TGT.N will start carrying the Bobbie brand infant formula in stores starting by September, and on its website this month, as the national shortage persists.
Bobbie, which has previously sold to consumers exclusively through its website, has increased its manufacturing output over the last few months by more than 30%, and is hoping to expand production further, Chief Executive Laura Modi said in an interview.
"We are prepared for this, and have enough inventory to show up on shelves across the country," Modi told Reuters.
Target currently has online and in-store limits on how much formula shoppers can buy.
The U.S. infant formula shortage stems in part from the closure of an Abbott Laboratories ABT.N plant that manufactured specialty formulas, which re-opened this month. The plant closed after reports of bacterial infections and death in babies who consumed formula made at the plant.
The U.S. Food and Drug Administration this month said it is looking at ways to make it easier for new baby formula makers to enter the U.S. market and for those allowed under a temporary program to remain in the country for longer to mitigate the shortage.
Target carries U.K.-made formula Kendamil, recently approved under the program.
The in-stock nationwide availability of powder baby formula has dipped a bit in recent weeks, to 69.6% for the week of July 3, from 70.7% in the week ending June 26, according to data service IRI.
Bobbie, which is manufactured in Perrigo Co PRGO.N plants, currently has a waitlist to become a new subscriber online.
Modi said the company has wanted to expand into brick-and-mortar retail because subscribers have asked where they can pick up extra cans if they are using more formula than expected.
Bobbie's deal with Target includes displays at the ends of shopping aisles to educate consumers on the product, Modi said. The displays feature mats of turf to indicate the formula uses milk from grass-fed cows, she said.
"The formula aisle is a miserable, sad place to walk down," Modi said, explaining that it often leaves new parents feeling guilty and dumbfounded. "Our desire to show up in retail is to change retail, and change how formula is showing up."
(Reporting by Jessica DiNapoli in New York; additional reporting by Siddharth Cavale in New York; Editing by Bill Berkrot)
((Jessica.DiNapoli@thomsonreuters.com; 845-591-4428;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The U.S. infant formula shortage stems in part from the closure of an Abbott Laboratories ABT.N plant that manufactured specialty formulas, which re-opened this month. Bobbie, which has previously sold to consumers exclusively through its website, has increased its manufacturing output over the last few months by more than 30%, and is hoping to expand production further, Chief Executive Laura Modi said in an interview. The U.S. Food and Drug Administration this month said it is looking at ways to make it easier for new baby formula makers to enter the U.S. market and for those allowed under a temporary program to remain in the country for longer to mitigate the shortage. | The U.S. infant formula shortage stems in part from the closure of an Abbott Laboratories ABT.N plant that manufactured specialty formulas, which re-opened this month. By Jessica DiNapoli NEW YORK, July 12 (Reuters) - Target Corp TGT.N will start carrying the Bobbie brand infant formula in stores starting by September, and on its website this month, as the national shortage persists. Bobbie's deal with Target includes displays at the ends of shopping aisles to educate consumers on the product, Modi said. | The U.S. infant formula shortage stems in part from the closure of an Abbott Laboratories ABT.N plant that manufactured specialty formulas, which re-opened this month. By Jessica DiNapoli NEW YORK, July 12 (Reuters) - Target Corp TGT.N will start carrying the Bobbie brand infant formula in stores starting by September, and on its website this month, as the national shortage persists. The in-stock nationwide availability of powder baby formula has dipped a bit in recent weeks, to 69.6% for the week of July 3, from 70.7% in the week ending June 26, according to data service IRI. | The U.S. infant formula shortage stems in part from the closure of an Abbott Laboratories ABT.N plant that manufactured specialty formulas, which re-opened this month. By Jessica DiNapoli NEW YORK, July 12 (Reuters) - Target Corp TGT.N will start carrying the Bobbie brand infant formula in stores starting by September, and on its website this month, as the national shortage persists. Bobbie, which is manufactured in Perrigo Co PRGO.N plants, currently has a waitlist to become a new subscriber online. |
31539.0 | 2022-07-12 00:00:00 UTC | Abbott: FDA Grants Breakthrough Device Designation To Investigate DBS System In TRD | ABT | https://www.nasdaq.com/articles/abbott%3A-fda-grants-breakthrough-device-designation-to-investigate-dbs-system-in-trd | nan | nan | (RTTNews) - Abbott (ABT) announced the FDA has granted Breakthrough Device Designation to investigate the use of its deep brain stimulation system in treatment-resistant depression. Abbott's DBS system is an adjustable therapy that involves implanting thin wires - or leads - into targeted areas of the brain. The DBS therapy for treatment resistant depression is limited to investigational use only.
Abbott noted that, with the Breakthrough Device Designation, the DBS system could become available as a new treatment option sooner for people affected by TRD.
For More Such Health News, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott (ABT) announced the FDA has granted Breakthrough Device Designation to investigate the use of its deep brain stimulation system in treatment-resistant depression. Abbott's DBS system is an adjustable therapy that involves implanting thin wires - or leads - into targeted areas of the brain. Abbott noted that, with the Breakthrough Device Designation, the DBS system could become available as a new treatment option sooner for people affected by TRD. | (RTTNews) - Abbott (ABT) announced the FDA has granted Breakthrough Device Designation to investigate the use of its deep brain stimulation system in treatment-resistant depression. The DBS therapy for treatment resistant depression is limited to investigational use only. Abbott noted that, with the Breakthrough Device Designation, the DBS system could become available as a new treatment option sooner for people affected by TRD. | (RTTNews) - Abbott (ABT) announced the FDA has granted Breakthrough Device Designation to investigate the use of its deep brain stimulation system in treatment-resistant depression. Abbott's DBS system is an adjustable therapy that involves implanting thin wires - or leads - into targeted areas of the brain. Abbott noted that, with the Breakthrough Device Designation, the DBS system could become available as a new treatment option sooner for people affected by TRD. | (RTTNews) - Abbott (ABT) announced the FDA has granted Breakthrough Device Designation to investigate the use of its deep brain stimulation system in treatment-resistant depression. Abbott's DBS system is an adjustable therapy that involves implanting thin wires - or leads - into targeted areas of the brain. For More Such Health News, visit rttnews.com. |
31540.0 | 2022-07-12 00:00:00 UTC | When the Market Recovers, You'll Want to Own These 2 Healthcare ETFs | ABT | https://www.nasdaq.com/articles/when-the-market-recovers-youll-want-to-own-these-2-healthcare-etfs | nan | nan | In the midst of a bear market, smart investors are looking for a bright future for investments that have taken an uncharacteristic recent loss. You don't have to spend too much time researching to find many candidates. But finding investments that can withstand a prolonged challenging market can be more difficult.
iShares U.S. Medical Devices ETF (NYSEMKT:IHI) and Vanguard Healthcare Index Fund ETF (NYSEMKT:VHT) are two exchange-traded funds (ETFs) that provide a broad swath of portfolio coverage across medical devices and large-cap pharmaceutical companies. Both also suffer from an uncharacteristic negative year-to-date return, but history suggests a strong growth pattern. Owning these two ETFs can minimize an investor's risk while providing the potential for huge long-term gains.
Image source: Getty Images.
1. iShares U.S. Medical Devices ETF
In 2022, Blackrock's medical device ETF is down nearly 22%. That's a huge difference from the 19% average annualized return it has produced over the past 10 years.
As medical device companies regain strength following setbacks caused by the pandemic, investors are seeing year-over-year revenue growth for major players in the sector. Thermo Fisher Scientific and Abbott Laboratories, both of which are top holdings in Blackrock's medical device ETF, produced double-digit sales growth in the most recent quarter, led by organic growth of more than 15% in the quarter on a year-over-year basis.
That's an example of what investors are looking for from this niche ETF. Unlike some ETFs that focus on hundreds of holdings, this one focuses on 67 domestic medical device companies. That's enough to provide a broad swath to minimize volatility but not so broad that it derails opportunity for strong growth from primary industry leaders. The ETF also comes in with a slightly lower-than-average 0.41% expense ratio compared to the 0.58% average for healthcare ETFs.
Medical devices is the largest segment of the growing medical technology market, which is projected to grow at a compound annual growth rate of 5.3% through 2026. The U.S. market, which this ETF focuses on, should be responsible for 34% of that growth, giving this ETF tremendous opportunity for investors. As part of the ETF's 10-year average annualized return of 19%, it has not seen a down year. You would need to go back to 2008 and 2011 for the last years that the ETF posted an annual per-share loss.
Hopeful investors might point toward a 38% and 16% gain, respectively, in the first year following the losses. With 2022 half over, signs of a recovery are starting to show up in many share prices. In fact, this ETF has sprung back by 10% over the past three weeks. Long-term investors looking for large gains are encouraged to check out this medical device ETF now.
2. Vanguard Healthcare Index Fund ETF
Similar to Blackrock, the Vanguard ETF has struggled in 2022. Down as much as 17% year to date as of June 16, it too is showing hints of recovery with a recent 10% climb over the past three weeks. The ETF's top holdings boast large-cap pharmaceutical companies like Johnson & Johnson and Pfizer, as well as healthcare insurance and provider giants like UnitedHealth Group. These "giants" are the kind of foundational companies suited to anchor a portfolio for years to come.
Since 2007, the ETF has produced double-digit returns in nine of the last 15 years, resulting in only two years with a negative return. Both losses were fully regained in the following two years. That equates to an average annualized return of 10% over the lifetime of the fund.
The need for healthcare services isn't going away. Diseases evolve, accidents happen, and an aging population calls for new healthcare requirements. An ETF like Vanguard that holds over 400 companies in its portfolio gives it access to an addressable market that includes a massive number of end users ranging from someone who needs a bandage to someone with a rare disease needing a pharmaceutical company to develop a game-changing treatment that could potentially generate billions of dollars in revenue.
Not every company in healthcare will succeed, but investors can benefit by holding shares of an ETF that has a strong position -- 41% of all holdings -- in the top companies in the industry while also having a position in the lesser-known names that may one day be at the top. As global healthcare requirements increase, the Vanguard ETF has treated investors extremely well since its inception -- enough to boost long-term investors' confidence going forward.
Simply put, an investment of $10,000 in this ETF just 10 years ago would be worth $25,000 today thanks to the compound gains achieved over that time. And it might be comforting to know that this fund has a track record, at least so far, of returning positive gains 87% of the time.
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Jeff Little has positions in iShares Dow Jones US Medical Dev. The Motley Fool has positions in and recommends Thermo Fisher Scientific. The Motley Fool recommends Johnson & Johnson and UnitedHealth Group. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | As medical device companies regain strength following setbacks caused by the pandemic, investors are seeing year-over-year revenue growth for major players in the sector. An ETF like Vanguard that holds over 400 companies in its portfolio gives it access to an addressable market that includes a massive number of end users ranging from someone who needs a bandage to someone with a rare disease needing a pharmaceutical company to develop a game-changing treatment that could potentially generate billions of dollars in revenue. Simply put, an investment of $10,000 in this ETF just 10 years ago would be worth $25,000 today thanks to the compound gains achieved over that time. | iShares U.S. Medical Devices ETF (NYSEMKT:IHI) and Vanguard Healthcare Index Fund ETF (NYSEMKT:VHT) are two exchange-traded funds (ETFs) that provide a broad swath of portfolio coverage across medical devices and large-cap pharmaceutical companies. 1. iShares U.S. Medical Devices ETF In 2022, Blackrock's medical device ETF is down nearly 22%. Thermo Fisher Scientific and Abbott Laboratories, both of which are top holdings in Blackrock's medical device ETF, produced double-digit sales growth in the most recent quarter, led by organic growth of more than 15% in the quarter on a year-over-year basis. | iShares U.S. Medical Devices ETF (NYSEMKT:IHI) and Vanguard Healthcare Index Fund ETF (NYSEMKT:VHT) are two exchange-traded funds (ETFs) that provide a broad swath of portfolio coverage across medical devices and large-cap pharmaceutical companies. 1. iShares U.S. Medical Devices ETF In 2022, Blackrock's medical device ETF is down nearly 22%. Not every company in healthcare will succeed, but investors can benefit by holding shares of an ETF that has a strong position -- 41% of all holdings -- in the top companies in the industry while also having a position in the lesser-known names that may one day be at the top. | 1. iShares U.S. Medical Devices ETF In 2022, Blackrock's medical device ETF is down nearly 22%. Hopeful investors might point toward a 38% and 16% gain, respectively, in the first year following the losses. See the 10 stocks *Stock Advisor returns as of June 2, 2022 Jeff Little has positions in iShares Dow Jones US Medical Dev. |
31541.0 | 2022-07-11 00:00:00 UTC | IWD, BAC, ABT, BMY: ETF Outflow Alert | ABT | https://www.nasdaq.com/articles/iwd-bac-abt-bmy%3A-etf-outflow-alert | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Value ETF (Symbol: IWD) where we have detected an approximate $117.8 million dollar outflow -- that's a 0.2% decrease week over week (from 351,850,000 to 351,050,000). Among the largest underlying components of IWD, in trading today Bank of America Corp (Symbol: BAC) is down about 0.8%, Abbott Laboratories (Symbol: ABT) is down about 0.7%, and Bristol Myers Squibb Co. (Symbol: BMY) is up by about 0.1%. For a complete list of holdings, visit the IWD Holdings page » The chart below shows the one year price performance of IWD, versus its 200 day moving average:
Looking at the chart above, IWD's low point in its 52 week range is $139.96 per share, with $171.42 as the 52 week high point — that compares with a last trade of $145.99. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IWD, in trading today Bank of America Corp (Symbol: BAC) is down about 0.8%, Abbott Laboratories (Symbol: ABT) is down about 0.7%, and Bristol Myers Squibb Co. (Symbol: BMY) is up by about 0.1%. For a complete list of holdings, visit the IWD Holdings page » The chart below shows the one year price performance of IWD, versus its 200 day moving average: Looking at the chart above, IWD's low point in its 52 week range is $139.96 per share, with $171.42 as the 52 week high point — that compares with a last trade of $145.99. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of IWD, in trading today Bank of America Corp (Symbol: BAC) is down about 0.8%, Abbott Laboratories (Symbol: ABT) is down about 0.7%, and Bristol Myers Squibb Co. (Symbol: BMY) is up by about 0.1%. For a complete list of holdings, visit the IWD Holdings page » The chart below shows the one year price performance of IWD, versus its 200 day moving average: Looking at the chart above, IWD's low point in its 52 week range is $139.96 per share, with $171.42 as the 52 week high point — that compares with a last trade of $145.99. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of IWD, in trading today Bank of America Corp (Symbol: BAC) is down about 0.8%, Abbott Laboratories (Symbol: ABT) is down about 0.7%, and Bristol Myers Squibb Co. (Symbol: BMY) is up by about 0.1%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Value ETF (Symbol: IWD) where we have detected an approximate $117.8 million dollar outflow -- that's a 0.2% decrease week over week (from 351,850,000 to 351,050,000). For a complete list of holdings, visit the IWD Holdings page » The chart below shows the one year price performance of IWD, versus its 200 day moving average: Looking at the chart above, IWD's low point in its 52 week range is $139.96 per share, with $171.42 as the 52 week high point — that compares with a last trade of $145.99. | Among the largest underlying components of IWD, in trading today Bank of America Corp (Symbol: BAC) is down about 0.8%, Abbott Laboratories (Symbol: ABT) is down about 0.7%, and Bristol Myers Squibb Co. (Symbol: BMY) is up by about 0.1%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Value ETF (Symbol: IWD) where we have detected an approximate $117.8 million dollar outflow -- that's a 0.2% decrease week over week (from 351,850,000 to 351,050,000). For a complete list of holdings, visit the IWD Holdings page » The chart below shows the one year price performance of IWD, versus its 200 day moving average: Looking at the chart above, IWD's low point in its 52 week range is $139.96 per share, with $171.42 as the 52 week high point — that compares with a last trade of $145.99. |
31542.0 | 2022-07-11 00:00:00 UTC | 2 Dividend Stocks You Can Confidently Buy in a Bear Market | ABT | https://www.nasdaq.com/articles/2-dividend-stocks-you-can-confidently-buy-in-a-bear-market | nan | nan | Did you know that a bad market technically isn't a bear market until the benchmark S&P 500 index is at least 20% below its latest peak? We're not quite there at the moment. After recovering from steep losses for a few days, the index is about 19% below the high water mark it set in January.
We may have emerged from a bear market already but it would be pretty irresponsible of us not to prepare for more rough weather ahead. These two giants of the healthcare sector are about as reliable as businesses get. Here's why you can count on steadily growing dividend payments from these two healthcare stocks.
Abbott Laboratories
You've more than likely seen some of Abbott Laboratories' (NYSE: ABT) COVID-19 diagnostic products. If you've been having a hard time finding baby formula you're also aware of this company's nutrition business.
What you probably don't know is that Abbott Laboratories recently paid its 394th consecutive quarterly dividend. The company's also raised the payout for 50 consecutive years.
If you're one of an estimated 37.3 million Americans living with diabetes, it's just a matter of time before you're also familiar with the most important new product Abbott Laboratories has launched in a long time.
In May, the Freestyle Libre 3 received clearance from the FDA to monitor blood sugar levels 24 hours a day for 14 days at a time. The device is about the size of two pennies stacked on top of each other which is a little smaller than the constant glucose monitor (CGM) it could end up competing with, the new G7 from Dexcom (NASDAQ: DXCM).
Dexcom developed the G7 for just 10 days of use at a time and it still hasn't received clearance from the FDA. Without a significant competitor for the Freestyle Libre 3 in the U.S., Abbott's CGM sales could shoot through the roof and easily offset slackening demand for COVID-19 tests.
Shares of Abbott are about 23% below the peak they reached in January even though the Freestyle Libre 3 seems destined to gain and maintain a leading share of the lucrative CGM market.
Abbott Laboratories shares offer a 1.7% yield at recent prices. While this yield isn't very tempting at first glance, CGM sales could help it grow the payout by leaps and bounds.
Johnson & Johnson
If you're willing to trade slower growth in the future for a higher yield in the present, consider Johnson & Johnson (NYSE: JNJ). With a AAA credit rating and a 60-year record of consecutive dividend raises, this healthcare conglomerate is a dividend investor's dream come true.
Right now is a particularly good time to buy Johnson & Johnson because in 2023 it will spin off its consumer goods segment into a separate new business. This means existing shareholders will end up with two dividend-paying stocks in their portfolio for the price of one.
The company's consumer goods segment hasn't been a major source of growth in a long time but its pharmaceutical business is stronger than ever. For example, Tremfya is a recently launched psoriasis treatment with sales that rose 41% year over year in the first quarter and it's already on pace to generate $2.4 billion in revenue this year,
Johnson & Johnson's quarterly payouts have risen about 35% over the past five years. The stock currently offers a 2.5% yield and after it spins off its consumer segment, both stocks will pay dividends that meet or exceed the payments investors are currently receiving.
Without a stodgy consumer health segment holding it back, J&J's soon-to-be streamlined operation could deliver impressive growth in 2023 and beyond. That makes it a solid addition now for just about any income-seeking investor's portfolio.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories You've more than likely seen some of Abbott Laboratories' (NYSE: ABT) COVID-19 diagnostic products. The device is about the size of two pennies stacked on top of each other which is a little smaller than the constant glucose monitor (CGM) it could end up competing with, the new G7 from Dexcom (NASDAQ: DXCM). Without a significant competitor for the Freestyle Libre 3 in the U.S., Abbott's CGM sales could shoot through the roof and easily offset slackening demand for COVID-19 tests. | Abbott Laboratories You've more than likely seen some of Abbott Laboratories' (NYSE: ABT) COVID-19 diagnostic products. Abbott Laboratories shares offer a 1.7% yield at recent prices. For example, Tremfya is a recently launched psoriasis treatment with sales that rose 41% year over year in the first quarter and it's already on pace to generate $2.4 billion in revenue this year, Johnson & Johnson's quarterly payouts have risen about 35% over the past five years. | Abbott Laboratories You've more than likely seen some of Abbott Laboratories' (NYSE: ABT) COVID-19 diagnostic products. Johnson & Johnson If you're willing to trade slower growth in the future for a higher yield in the present, consider Johnson & Johnson (NYSE: JNJ). For example, Tremfya is a recently launched psoriasis treatment with sales that rose 41% year over year in the first quarter and it's already on pace to generate $2.4 billion in revenue this year, Johnson & Johnson's quarterly payouts have risen about 35% over the past five years. | Abbott Laboratories You've more than likely seen some of Abbott Laboratories' (NYSE: ABT) COVID-19 diagnostic products. Here's why you can count on steadily growing dividend payments from these two healthcare stocks. The company's consumer goods segment hasn't been a major source of growth in a long time but its pharmaceutical business is stronger than ever. |
31543.0 | 2022-07-11 00:00:00 UTC | US To Import 4.9 Mln Cans Of Baby Formula From Australia | ABT | https://www.nasdaq.com/articles/us-to-import-4.9-mln-cans-of-baby-formula-from-australia | nan | nan | (RTTNews) - The U.S. Food and Drug Administration announced the intended availability of around 4.88 million cans of infant formula from Australia as part of its efforts to meet the nationwide supply shortage caused by Abbott Nutrition recall.
The news comes as Abbott has resumed the production at Michigan baby formula plant that was closed for few weeks due to flooding.
Under the FDA's enforcement discretion to source more infant formula to the U.S., Australia's Care A2+ will send about 8.6 million pounds or about 121 million full-size, 8-ounce bottles of 0-12 months general infant formula.
The initial product will be shipped in the first week of August with multiple shipments thereafter. In the U.S., the product will be distributed to as many as 20,000 retail locations for a 91% coverage of the population.
The product will be available in CVS and Rite Aid Drug Stores, Whole Foods Market, Kroger, HCA Healthcare, Publix Super Markets, Safeway, The Vitamin Shoppe, Duane Reade Convenience Store and Peapod Online Grocer.
In late June, the FDA had announced that around 17 million bottles equivalent of general infant formula in total will be imported from New Zealand by French food company Danone SA, and from Ireland by Abbott Nutrition.
In its latest update, the FDA noted that its increased flexibilities have resulted in total estimated quantity of 23.2 million cans, or about 524.1 million full-size, 8-ounce bottles of infant formula products from various countries.
The FDA said it expects that the measures and steps it is taking, and the resumption of production at the Abbott Nutrition's Sturgis, Michigan facility, will result in more supply to store shelves.
Media reported, citing Abbott spokesperson, that the formula plant in Sturgis, Michigan, resumed EleCare formula production on July 1 after a three-week shutdown caused by flooding.
Abbott in mid-June had stopped production of its EleCare specialty formula to clean and re-sanitize the plant following damage caused by torrential storm and rainfall.
The plant, which was previously closed for months after reporting bacterial infections and related deaths in babies, had reopened in early June only in agreement with the FDA.
The initial plant closure by Abbott Nutrition, the largest U.S. infant formula manufacturer, and the resultant major recall of its most popular powder formulas, had triggered the ongoing severe shortage for infant formula supplies in the country.
For More Such Health News, visit rttnews.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - The U.S. Food and Drug Administration announced the intended availability of around 4.88 million cans of infant formula from Australia as part of its efforts to meet the nationwide supply shortage caused by Abbott Nutrition recall. In late June, the FDA had announced that around 17 million bottles equivalent of general infant formula in total will be imported from New Zealand by French food company Danone SA, and from Ireland by Abbott Nutrition. The FDA said it expects that the measures and steps it is taking, and the resumption of production at the Abbott Nutrition's Sturgis, Michigan facility, will result in more supply to store shelves. | The news comes as Abbott has resumed the production at Michigan baby formula plant that was closed for few weeks due to flooding. In its latest update, the FDA noted that its increased flexibilities have resulted in total estimated quantity of 23.2 million cans, or about 524.1 million full-size, 8-ounce bottles of infant formula products from various countries. Media reported, citing Abbott spokesperson, that the formula plant in Sturgis, Michigan, resumed EleCare formula production on July 1 after a three-week shutdown caused by flooding. | Under the FDA's enforcement discretion to source more infant formula to the U.S., Australia's Care A2+ will send about 8.6 million pounds or about 121 million full-size, 8-ounce bottles of 0-12 months general infant formula. Media reported, citing Abbott spokesperson, that the formula plant in Sturgis, Michigan, resumed EleCare formula production on July 1 after a three-week shutdown caused by flooding. The initial plant closure by Abbott Nutrition, the largest U.S. infant formula manufacturer, and the resultant major recall of its most popular powder formulas, had triggered the ongoing severe shortage for infant formula supplies in the country. | (RTTNews) - The U.S. Food and Drug Administration announced the intended availability of around 4.88 million cans of infant formula from Australia as part of its efforts to meet the nationwide supply shortage caused by Abbott Nutrition recall. The news comes as Abbott has resumed the production at Michigan baby formula plant that was closed for few weeks due to flooding. Media reported, citing Abbott spokesperson, that the formula plant in Sturgis, Michigan, resumed EleCare formula production on July 1 after a three-week shutdown caused by flooding. |
31544.0 | 2022-07-10 00:00:00 UTC | Should You Buy Abbott Stock At $110? | ABT | https://www.nasdaq.com/articles/should-you-buy-abbott-stock-at-%24110 | nan | nan | After a 22% fall year-to-date, at the current levels we believe Abbott stock (NYSE: ABT) is undervalued. ABT stock fell from around $140 in early January to under $110 now. The YTD 22% fall for ABT compares with -20% returns for the broader S&P500 index.
Looking at the longer term, ABT stock is up 60% from levels seen in late 2018. This marks an outperformance compared to some of its peers, with Medtronic stock rising around 1%, Boston Scientific stock up 9%, Stryker stock seeing a 30% growth, and the S&P 500 index rising 54% over the same period.
This 60% rise for ABT stock since late 2018 was driven by: 1. Abbott’s revenue, which grew a significant 46% to $44.5 billion over the last twelve months, compared to $30.6 billion in 2018, 2. the company’s P/S ratio rising 9% to 4.3x trailing revenues, from 3.9x in 2018, and 3. a <1% fall in its total shares outstanding to 1.8 billion currently. This means the company’s revenue per share rose 46% to $25.42 now, compared to $17.42 in 2018.
Abbott’s sales over the recent years were driven by a very high demand for Covid-19 testing. For perspective, Diagnostics segment sales surged 2x to $15.6 billion in 2021, compared to $7.7. billion in 2019, before the pandemic. However, as the Covid-19 cases decline, the demand for testing is also expected to fall, weighing on Abbott’s diagnostics business in 2022 and beyond. That said, the company’s medical devices and established pharmaceutical sales will likely see steady growth over the coming years.
The company’s nutritional segment has had a tough start this year, with manufacturing challenges at its Michigan facility impacting the supply and, in turn, sales of baby formula products. The segment sales were down 7% to $1.9 billion. However, with the reopening of the Michigan plant, the company will likely be able to meet the demand with increased production over the coming quarters. Abbott’s continuous glucose monitoring device – Freestyle Libre – sales rose a solid 26% in Q1 2022 to nearly $1.0 billion. Abbott has recently secured the U.S. FDA approval for its Freestyle Libre 3, and this will help it gain market share and aid the diabetes business sales growth.
While the company has good prospects, it faces headwinds from the current weakness in broader markets. The S&P500 has now entered the bear market territory with rising concerns of slowing economic growth given the high inflation, Fed action, and supply chain disruptions. These factors may impact Abbott’s performance, as well.
However, some of these factors appear to have already been priced in by the investors, given the 22% decline in ABT stock this year. We estimate Abbott’s valuation to be $141 per share, reflecting a 30% upside from its current market price of $109, implying that investors are likely to be better off buying ABT stock in the recent dip for solid gains in the long-term. At its current levels, ABT stock is trading at just 4.3x trailing revenues, compared to the last three-year average of 5.4x, making the stock attractive from a valuation point of view.
While ABT stock looks undervalued, it is helpful to see how Abbott’s Peers fare on metrics that matter. You will find other valuable comparisons for companies across industries at Peer Comparisons.
Furthermore, the Covid-19 crisis has created many pricing discontinuities which can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for Xylem vs. Merck.
With inflation rising and the Fed raising interest rates, among other factors, ABT stock has fallen 22% this year. Can it drop more? See how low Abbott stock can go by comparing its decline in previous market crashes. Here is a performance summary of all stocks in previous market crashes.
What if you’re looking for a more balanced portfolio instead? Our high-quality portfolio and multi-strategy portfolio have beaten the market consistently since the end of 2016.
Returns Jul 2022
MTD [1] 2022
YTD [1] 2017-22
Total [2]
ABT Return 0% -23% 183%
S&P 500 Return 2% -19% 72%
Trefis Multi-Strategy Portfolio 4% -22% 211%
[1] Month-to-date and year-to-date as of 7/7/2022
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | We estimate Abbott’s valuation to be $141 per share, reflecting a 30% upside from its current market price of $109, implying that investors are likely to be better off buying ABT stock in the recent dip for solid gains in the long-term. After a 22% fall year-to-date, at the current levels we believe Abbott stock (NYSE: ABT) is undervalued. ABT stock fell from around $140 in early January to under $110 now. | After a 22% fall year-to-date, at the current levels we believe Abbott stock (NYSE: ABT) is undervalued. At its current levels, ABT stock is trading at just 4.3x trailing revenues, compared to the last three-year average of 5.4x, making the stock attractive from a valuation point of view. Total [2] ABT Return 0% -23% 183% S&P 500 Return 2% -19% 72% Trefis Multi-Strategy Portfolio 4% -22% 211% [1] Month-to-date and year-to-date as of 7/7/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Total [2] ABT Return 0% -23% 183% S&P 500 Return 2% -19% 72% Trefis Multi-Strategy Portfolio 4% -22% 211% [1] Month-to-date and year-to-date as of 7/7/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. After a 22% fall year-to-date, at the current levels we believe Abbott stock (NYSE: ABT) is undervalued. ABT stock fell from around $140 in early January to under $110 now. | The YTD 22% fall for ABT compares with -20% returns for the broader S&P500 index. However, some of these factors appear to have already been priced in by the investors, given the 22% decline in ABT stock this year. At its current levels, ABT stock is trading at just 4.3x trailing revenues, compared to the last three-year average of 5.4x, making the stock attractive from a valuation point of view. |
31545.0 | 2022-07-10 00:00:00 UTC | 2 Surefire Dividend Stocks I'd Buy Now and Hold for at Least a Decade | ABT | https://www.nasdaq.com/articles/2-surefire-dividend-stocks-id-buy-now-and-hold-for-at-least-a-decade | nan | nan | It's hard to watch the value of your portfolio decline in a bear market. The pain is so acute right now that dividend-paying stocks tied to businesses with reliable cash flows have a hard time finding buyers at sensible prices.
Times like these are when the world's most successful investors do the most shopping. The market may have found a bottom already, or we could be in for a lot more pain.
Luckily, we have good reasons to expect many more years of strong cash flows from these dividend-paying businesses. Here's how they can boost your returns if you just give them some time.
1. Digital Realty Trust
Investors seeking reliable dividends want to get their hands on some shares of Digital Realty Trust (NYSE: DLR). This is a real estate investment trust (REIT) that owns heaps of data centers, which are essentially rooms full of powerful computers and air conditioning units to keep them from overheating.
REITs are a great option for investors who want to generate a lot of passive income because they legally avoid taxation as long as they distribute nearly all of their profits to investors as dividends.
Digital Realty is a particularly good REIT to buy now since businesses all over the world are in the middle of an unstoppable shift away from in-house infrastructure and toward services that reside in the cloud. This is why analysts at Allied Market Research predict the data center industry will almost triple from $187 billion in 2020 to $517 billion in 2030.
In the first quarter of 2022 alone, Digital Realty Trust signed new leases on a little over 1 million square feet of property at rates that would make landlords in Manhattan blush. Annual rental rates on the new leases work out to around $155 per square foot.
At recent prices, shares of Digital Realty Trust offer a 3.8% yield, and investors can look forward to a rising payout. Reliable cash flows from lessees locked into long-term contracts allowed the company to raise its dividend payout 67% over the past 10 years.
We already know that this REIT has the means to raise its payout further. Funds from operations came in at $6.47 per share over the past year -- more than enough to meet an annual dividend obligation that is currently set at $4.88 per share.
2. AbbVie
AbbVie (NYSE: ABBV) offers a healthy dividend yield of 3.7% right now, slightly less than Digital Realty Trust -- but probably not for very long.
This biopharmaceutical company has increased its dividend by more than 250% since spinning off from Abbott Laboratories in 2013. The reason for the split was concern about the impending loss of market exclusivity for Humira, a blockbuster injection for treating arthritis and psoriasis that racked up more than $20 billion in sales last year.
Next year, Humira sales will begin to tank as a slew of biosimilars that have already been approved by the FDA enter the U.S. market. This is a great stock to buy now because the investments AbbVie has made with Humira could allow it to continue raising its dividend at a hair-raising pace for another decade.
In 2020, AbbVie acquired Allergan and its Botox franchise for about $63 billion. There are already other companies marketing drugs very similar to Botox, but none of them have AbbVie's enormous resources to develop and market them. Without significant competition anywhere in sight, the $4.7 billion in sales Botox racked up last year will probably keep climbing for at least another decade.
While Botox climbs steadily, a pair of drugs AbbVie launched in 2019 could offset Humira losses on their own. Rinvoq, a treatment for arthritis, is already on pace to exceed $2 billion in sales this year. Sales of Skyrizi, a psoriasis treatment, are climbing even faster.
AbbVie finished the first quarter on pace to reach $4 billion in sales this year. With a proven ability to reinvest profits from one blockbuster drug into the development of new ones, dividend investors can look forward to heaps of passive income from this stock.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Digital Realty Trust. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | This is a real estate investment trust (REIT) that owns heaps of data centers, which are essentially rooms full of powerful computers and air conditioning units to keep them from overheating. In the first quarter of 2022 alone, Digital Realty Trust signed new leases on a little over 1 million square feet of property at rates that would make landlords in Manhattan blush. The reason for the split was concern about the impending loss of market exclusivity for Humira, a blockbuster injection for treating arthritis and psoriasis that racked up more than $20 billion in sales last year. | Digital Realty Trust Investors seeking reliable dividends want to get their hands on some shares of Digital Realty Trust (NYSE: DLR). At recent prices, shares of Digital Realty Trust offer a 3.8% yield, and investors can look forward to a rising payout. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | Digital Realty Trust Investors seeking reliable dividends want to get their hands on some shares of Digital Realty Trust (NYSE: DLR). AbbVie AbbVie (NYSE: ABBV) offers a healthy dividend yield of 3.7% right now, slightly less than Digital Realty Trust -- but probably not for very long. 10 stocks we like better than Digital Realty Trust When our award-winning analyst team has a stock tip, it can pay to listen. | The pain is so acute right now that dividend-paying stocks tied to businesses with reliable cash flows have a hard time finding buyers at sensible prices. Reliable cash flows from lessees locked into long-term contracts allowed the company to raise its dividend payout 67% over the past 10 years. The reason for the split was concern about the impending loss of market exclusivity for Humira, a blockbuster injection for treating arthritis and psoriasis that racked up more than $20 billion in sales last year. |
31546.0 | 2022-07-09 00:00:00 UTC | Abbott says it has reopened Michigan baby formula plant | ABT | https://www.nasdaq.com/articles/abbott-says-it-has-reopened-michigan-baby-formula-plant | nan | nan | By Akanksha Khushi
July 9 (Reuters) - Abbott Laboratories ABT.N has reopened its Sturgis, Michigan baby formula plant, which was shut last month due to heavy rains, a company spokesperson told Reuters on Saturday.
Abbott resumed operations on July 1 and has started producing specialty baby formula EleCare.
The company which has been at the center of a baby formula shortage in the United States had shut down the plant in February and recalled its infant formula products, including Similac, after reports of bacterial infections in babies who had consumed products made at the facility.
Before the recall, Abbott controlled 40% of the infant formula market. The plant closure led to a country-wide baby formula shortage.
Abbott briefly reopened this plant early last month but had to shut it down after about two weeks due to thunderstorms and heavy rains.
(Reporting by Akanksha Khushi in Bengaluru; Editing by Sandra Maler)
((Akanksha.Khushi@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Akanksha Khushi July 9 (Reuters) - Abbott Laboratories ABT.N has reopened its Sturgis, Michigan baby formula plant, which was shut last month due to heavy rains, a company spokesperson told Reuters on Saturday. Abbott resumed operations on July 1 and has started producing specialty baby formula EleCare. The company which has been at the center of a baby formula shortage in the United States had shut down the plant in February and recalled its infant formula products, including Similac, after reports of bacterial infections in babies who had consumed products made at the facility. | By Akanksha Khushi July 9 (Reuters) - Abbott Laboratories ABT.N has reopened its Sturgis, Michigan baby formula plant, which was shut last month due to heavy rains, a company spokesperson told Reuters on Saturday. The company which has been at the center of a baby formula shortage in the United States had shut down the plant in February and recalled its infant formula products, including Similac, after reports of bacterial infections in babies who had consumed products made at the facility. The plant closure led to a country-wide baby formula shortage. | By Akanksha Khushi July 9 (Reuters) - Abbott Laboratories ABT.N has reopened its Sturgis, Michigan baby formula plant, which was shut last month due to heavy rains, a company spokesperson told Reuters on Saturday. Abbott resumed operations on July 1 and has started producing specialty baby formula EleCare. The company which has been at the center of a baby formula shortage in the United States had shut down the plant in February and recalled its infant formula products, including Similac, after reports of bacterial infections in babies who had consumed products made at the facility. | By Akanksha Khushi July 9 (Reuters) - Abbott Laboratories ABT.N has reopened its Sturgis, Michigan baby formula plant, which was shut last month due to heavy rains, a company spokesperson told Reuters on Saturday. Abbott resumed operations on July 1 and has started producing specialty baby formula EleCare. The company which has been at the center of a baby formula shortage in the United States had shut down the plant in February and recalled its infant formula products, including Similac, after reports of bacterial infections in babies who had consumed products made at the facility. |
31547.0 | 2022-07-08 00:00:00 UTC | 3 Stalwart Stocks That Could Be Safer Than Amazon | ABT | https://www.nasdaq.com/articles/3-stalwart-stocks-that-could-be-safer-than-amazon | nan | nan | Amazon (NASDAQ: AMZN) may be one of the world's largest and most diversified companies, but shareholders have taken a beating in the current bear market, which has sent its shares sliding over 30% so far this year. And with inflation and fears of a recession clearly in view as strong headwinds to many consumer-oriented businesses, investors seeking shelter from the storm may need to rotate their portfolios into safer stocks if they haven't already.
In that vein, below is a trio of companies whose business models are likely to make them more resilient against the toxic cocktail of economic forces at play. What's more, all three have outperformed the market -- and Amazon -- over the past 12 months, so let's take a closer look.
1. Steris
Steris (NYSE: STE) makes and distributes the disinfection equipment and sterilization goods that hospitals worldwide use to protect patients from contagion, and it's a safer stock than Amazon as a result. Unlike the random knickknacks you can get delivered to your door via Amazon Prime, Steris' customers simply can't function without its products. Imagine a hospital trying to provide care without a vast supply of sterile wipes and recently disinfected instruments.
As a result of these must-have products, the company's revenue is highly recurring with 70% of its $2.8 billion in sales to healthcare customers coming from consumables or services in its fiscal 2022. And it also sells to customers in the life sciences and biopharma industries since researchers and pharmaceutical manufacturers have significant needs for sterilization technology as well.
There's no end yet in sight for Steris' growth as more and more medical procedures are occurring each year. Looking out ahead, management expects double-digit earnings per share (EPS) growth and mid-to-high single-digit revenue growth. Of course, that's slower than what Amazon will probably swing, but at least investors can appreciate that the business' base of revenue isn't subject to potential erosion by poor consumer sentiment.
2. Abbott Laboratories
You may have heard of Abbott Laboratories (NYSE: ABT) thanks to its recent troubles with safely manufacturing enough baby formula to meet demand, but its product offerings are far more diverse than nutrition solutions alone. It develops and sells everything from BinaxNOW rapid antigen tests to generic medicines and even medical devices for diabetes and chronic pain management.
Importantly, its mix of products includes those for which there will always be demand, including baby formula as well as innovation-driven products like glucose monitors, where it can capture more growth. And with trailing 12-month revenue of more than $44.5 billion, the company operates at a global scale that few other healthcare enterprises can match.
In comparison to Amazon -- which pays no dividend -- Abbott maintains a longstanding and ever-increasing one that is enabled by its persistently growing free cash flow (FCF). And while Abbott's annual FCF rose by 158.5% over the past five years, Amazon's fell by more than 422%. In the same period, Abbott grew its dividend by 158%. Therefore, even when its share price is falling, investors still get the benefit of a small payout, and Abbott has continually been hiking that payout for the last 50 years.
All of this points to Abott Laboratories' longstanding viability as a solid investment.
3. Costco Wholesale
Costco Wholesale (NASDAQ: COST) and Amazon both target some of the same segments, like consumer goods. But while Amazon relies extensively on its delivery trucks and distribution infrastructure, Costco relies on its warehouses, which require people to pay for a membership to access.
Costco's pitch is that customers will get a much better deal on groceries its warehouses than anywhere else, even including membership fees, which totaled around $4.1 billion over the last 12 months. Plus, it offers products that Amazon can't get to people in a timely or affordable fashion, like gasoline, cars, vacation packages, pharmacy goods, and even insurance, all of which are big-ticket items for cash-strapped consumers.
Cheaply selling key physical goods means that Costco is a favorite when times are tough economically and also that its profit margin doesn't budge much. Amidst high inflation in the U.S., it reported that its sales for the month of May rose by an incredible 16.9% compared to the prior year, raking in more than $18.2 billion.
Given that inflation could be persistently high for the next few years, the conditions look as ripe as ever for Costco to flourish.
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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Alex Carchidi has positions in Abbott Laboratories and Costco Wholesale. The Motley Fool has positions in and recommends Amazon and Costco Wholesale. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories You may have heard of Abbott Laboratories (NYSE: ABT) thanks to its recent troubles with safely manufacturing enough baby formula to meet demand, but its product offerings are far more diverse than nutrition solutions alone. And with inflation and fears of a recession clearly in view as strong headwinds to many consumer-oriented businesses, investors seeking shelter from the storm may need to rotate their portfolios into safer stocks if they haven't already. Plus, it offers products that Amazon can't get to people in a timely or affordable fashion, like gasoline, cars, vacation packages, pharmacy goods, and even insurance, all of which are big-ticket items for cash-strapped consumers. | Abbott Laboratories You may have heard of Abbott Laboratories (NYSE: ABT) thanks to its recent troubles with safely manufacturing enough baby formula to meet demand, but its product offerings are far more diverse than nutrition solutions alone. Steris Steris (NYSE: STE) makes and distributes the disinfection equipment and sterilization goods that hospitals worldwide use to protect patients from contagion, and it's a safer stock than Amazon as a result. Costco Wholesale Costco Wholesale (NASDAQ: COST) and Amazon both target some of the same segments, like consumer goods. | Abbott Laboratories You may have heard of Abbott Laboratories (NYSE: ABT) thanks to its recent troubles with safely manufacturing enough baby formula to meet demand, but its product offerings are far more diverse than nutrition solutions alone. Steris Steris (NYSE: STE) makes and distributes the disinfection equipment and sterilization goods that hospitals worldwide use to protect patients from contagion, and it's a safer stock than Amazon as a result. Costco Wholesale Costco Wholesale (NASDAQ: COST) and Amazon both target some of the same segments, like consumer goods. | Abbott Laboratories You may have heard of Abbott Laboratories (NYSE: ABT) thanks to its recent troubles with safely manufacturing enough baby formula to meet demand, but its product offerings are far more diverse than nutrition solutions alone. Steris Steris (NYSE: STE) makes and distributes the disinfection equipment and sterilization goods that hospitals worldwide use to protect patients from contagion, and it's a safer stock than Amazon as a result. Amidst high inflation in the U.S., it reported that its sales for the month of May rose by an incredible 16.9% compared to the prior year, raking in more than $18.2 billion. |
31548.0 | 2022-07-07 00:00:00 UTC | Abbott (ABT) Gains But Lags Market: What You Should Know | ABT | https://www.nasdaq.com/articles/abbott-abt-gains-but-lags-market%3A-what-you-should-know-7 | nan | nan | Abbott (ABT) closed at $109.49 in the latest trading session, marking a +0.74% move from the prior day. This move lagged the S&P 500's daily gain of 1.5%. Meanwhile, the Dow gained 1.12%, and the Nasdaq, a tech-heavy index, added 0.32%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had lost 5.23% over the past month, lagging the Medical sector's loss of 0.3% and outpacing the S&P 500's loss of 6.54% in that time.
Abbott will be looking to display strength as it nears its next earnings release, which is expected to be July 20, 2022. The company is expected to report EPS of $1.10, down 5.98% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.39 billion, up 1.6% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.81 per share and revenue of $41.69 billion. These results would represent year-over-year changes of -7.68% and -3.22%, respectively.
It is also important to note the recent changes to analyst estimates for Abbott. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.25% higher. Abbott is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Abbott currently has a Forward P/E ratio of 22.58. This represents a premium compared to its industry's average Forward P/E of 21.02.
Also, we should mention that ABT has a PEG ratio of 3.94. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ABT's industry had an average PEG ratio of 1.44 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 169, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ABT in the coming trading sessions, be sure to utilize Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott (ABT) closed at $109.49 in the latest trading session, marking a +0.74% move from the prior day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.81 per share and revenue of $41.69 billion. Also, we should mention that ABT has a PEG ratio of 3.94. | Abbott (ABT) closed at $109.49 in the latest trading session, marking a +0.74% move from the prior day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.81 per share and revenue of $41.69 billion. Also, we should mention that ABT has a PEG ratio of 3.94. | Abbott (ABT) closed at $109.49 in the latest trading session, marking a +0.74% move from the prior day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.81 per share and revenue of $41.69 billion. Also, we should mention that ABT has a PEG ratio of 3.94. | Abbott (ABT) closed at $109.49 in the latest trading session, marking a +0.74% move from the prior day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.81 per share and revenue of $41.69 billion. Also, we should mention that ABT has a PEG ratio of 3.94. |
31549.0 | 2022-07-06 00:00:00 UTC | U.S. FDA working to allow overseas infant formula beyond shortage | ABT | https://www.nasdaq.com/articles/u.s.-fda-working-to-allow-overseas-infant-formula-beyond-shortage | nan | nan | Adds details from FDA statement, background
July 6 (Reuters) - The U.S. Food and Drug Administration is looking at ways to allow overseas manufacturers of baby formula to keep selling in the country beyond the current shortage, the health regulator said on Wednesday.
To ease the nationwide infant formula shortage, the FDA in May said it would allow baby formula imports until Nov. 14, leading to several companies such as Nestle SA NESN.S and Reckitt Benckiser RKT.L flying in products from overseas.
The FDA plans to issue further guidance in September on how companies that have been temporarily allowed to ship baby formula to the United States could meet the agency's requirements to continue to supply beyond mid-November.
"Many of the companies providing these formula products have expressed interest in continuing to serve the American market permanently," the FDA said.
Abbott Laboratories' ABT.N recall in February of infant formula made in its plant in Michigan worsened an ongoing shortage of baby formula in the nation.
(Reporting by Manas Mishra and Mrinalika Roy in Bengaluru; Editing by Shounak Dasgupta and Maju Samuel)
((mrinalika.roy@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories' ABT.N recall in February of infant formula made in its plant in Michigan worsened an ongoing shortage of baby formula in the nation. Adds details from FDA statement, background July 6 (Reuters) - The U.S. Food and Drug Administration is looking at ways to allow overseas manufacturers of baby formula to keep selling in the country beyond the current shortage, the health regulator said on Wednesday. The FDA plans to issue further guidance in September on how companies that have been temporarily allowed to ship baby formula to the United States could meet the agency's requirements to continue to supply beyond mid-November. | Abbott Laboratories' ABT.N recall in February of infant formula made in its plant in Michigan worsened an ongoing shortage of baby formula in the nation. To ease the nationwide infant formula shortage, the FDA in May said it would allow baby formula imports until Nov. 14, leading to several companies such as Nestle SA NESN.S and Reckitt Benckiser RKT.L flying in products from overseas. "Many of the companies providing these formula products have expressed interest in continuing to serve the American market permanently," the FDA said. | Abbott Laboratories' ABT.N recall in February of infant formula made in its plant in Michigan worsened an ongoing shortage of baby formula in the nation. Adds details from FDA statement, background July 6 (Reuters) - The U.S. Food and Drug Administration is looking at ways to allow overseas manufacturers of baby formula to keep selling in the country beyond the current shortage, the health regulator said on Wednesday. To ease the nationwide infant formula shortage, the FDA in May said it would allow baby formula imports until Nov. 14, leading to several companies such as Nestle SA NESN.S and Reckitt Benckiser RKT.L flying in products from overseas. | Abbott Laboratories' ABT.N recall in February of infant formula made in its plant in Michigan worsened an ongoing shortage of baby formula in the nation. Adds details from FDA statement, background July 6 (Reuters) - The U.S. Food and Drug Administration is looking at ways to allow overseas manufacturers of baby formula to keep selling in the country beyond the current shortage, the health regulator said on Wednesday. To ease the nationwide infant formula shortage, the FDA in May said it would allow baby formula imports until Nov. 14, leading to several companies such as Nestle SA NESN.S and Reckitt Benckiser RKT.L flying in products from overseas. |
31550.0 | 2022-07-05 00:00:00 UTC | What's Happening With Boston Scientific Stock? | ABT | https://www.nasdaq.com/articles/whats-happening-with-boston-scientific-stock | nan | nan | Boston Scientific stock (NYSE: BSX) has seen a 9% fall in a month, in line with the broader S&P500, which is down 8%. The recent fall can primarily be attributed to the market weakness, owing to concerns over slowing economic growth. Boston Scientific’s performance was also in line with its peers, including Medtronic, Abbott, and Intuitive Surgical, all down between 8% and 12% over the last month.
Over the recent quarters, Boston Scientific has benefited from a rise in elective procedure volume. It also acquired Baylis Medical in Q1 22, which should bolster the company’s overall revenue growth going forward. Despite the ongoing supply chain disruption, the company posted upbeat Q1 results and raised its full-year outlook. However, BSX stock faces headwinds from the current weakness in broader markets. The S&P500 has now entered the bear market territory with rising concerns of slowing economic growth given the high inflation, Fed action, and supply chain disruptions.
But now that BSX stock has seen a fall of 9% in a month will it continue its downward trajectory, or is a rise imminent? Going by historical performance, there is a high chance of a rise for Boston Scientific stock over the next month. Of 102 instances in the last ten years that BSX stock saw a twenty-one-day fall of 9% or more, 74 resulted in BSX stock rising over the subsequent one-month period (twenty-one trading days). This historical pattern reflects 74 out of 102, or about a 73% chance of a rise in BSX stock over the next month. See our analysis of Boston Scientific Stock Chance of Rise for more details.
Calculation of ‘Event Probability‘ and ‘Chance of Rise‘ using the last ten years’ data
After moving 1% or more over five days, the stock rose on 53% of the occasions in the next five days.
After moving 3% or more over ten days, the stock rose on 58% of the occasions in the next ten days.
After moving -9% or more over a twenty-one-day period, the stock rose on 73% of the occasions in the next twenty-one days.
This pattern suggests a higher chance of a rise in BSX stock over the next five days, ten days, and the next month.
Boston Scientific (BSX) Stock Return (Recent) Comparison With Peers
Five-Day Return: ABT highest at 2.3%; ILMN lowest at -4.7%
Ten-Day Return: ABT highest at 3.7%; ILMN lowest at -4.8%
Twenty-One Day Return: ABT highest at -7.5%; ILMN lowest at -23.0%
may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. For example, you'll be surprised how counter-intuitive the stock valuation is for Pfizer vs Merck. \n\nBased on article theme, variations to \"While may have moved\" can be (a) While may be overvalued (or undervalued) (b) While can move (c) Although may not be attractive (d) While is worth considering"}" data-sheets-userformat="{"2":1049345,"3":{"1":0},"11":4,"12":0,"23":1}" data-sheets-textstyleruns="{"1":0}{"1":210,"2":{"2":{"1":2,"2":1136076},"5":1,"9":1}}{"1":225}{"1":229,"2":{"4":8}}{"1":267,"2":{"4":8,"6":1}}{"1":299,"2":{"4":8}}" data-sheets-hyperlinkruns="{"1":210,"2":"https://dashboards.trefis.com/data/companies/PFE/no-login-required/HMIwIvym/Pfizer-vs-Merck-PFE-stock-s-similar-valuation-vs-MRK-stock-is-counter-intuitive"}{"1":225}">While BSX stock may see higher levels, the Covid-19 crisis has created many pricing discontinuities, which can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for Boston Scientific vs. Corcept Therapeutics.
BSX stock has seen a fall of 9% this year, but can it drop further? See how low Boston Scientific stock can go by comparing its decline in previous market crashes. Here is a performance summary of all stocks in previous market crashes.
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Returns Jul 2022
MTD [1] 2022
YTD [1] 2017-22
Total [2]
BSX Return 0% -12% 72%
S&P 500 Return 0% -21% 69%
Trefis Multi-Strategy Portfolio 1% -26% 193%
[1] Month-to-date and year-to-date as of 7/1/2022
[2] Cumulative total returns since the end of 2016
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Boston Scientific (BSX) Stock Return (Recent) Comparison With Peers Five-Day Return: ABT highest at 2.3%; ILMN lowest at -4.7% Ten-Day Return: ABT highest at 3.7%; ILMN lowest at -4.8% Twenty-One Day Return: ABT highest at -7.5%; ILMN lowest at -23.0% may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. Boston Scientific’s performance was also in line with its peers, including Medtronic, Abbott, and Intuitive Surgical, all down between 8% and 12% over the last month. Despite the ongoing supply chain disruption, the company posted upbeat Q1 results and raised its full-year outlook. | Boston Scientific (BSX) Stock Return (Recent) Comparison With Peers Five-Day Return: ABT highest at 2.3%; ILMN lowest at -4.7% Ten-Day Return: ABT highest at 3.7%; ILMN lowest at -4.8% Twenty-One Day Return: ABT highest at -7.5%; ILMN lowest at -23.0% may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. Of 102 instances in the last ten years that BSX stock saw a twenty-one-day fall of 9% or more, 74 resulted in BSX stock rising over the subsequent one-month period (twenty-one trading days). Total [2] BSX Return 0% -12% 72% S&P 500 Return 0% -21% 69% Trefis Multi-Strategy Portfolio 1% -26% 193% [1] Month-to-date and year-to-date as of 7/1/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Boston Scientific (BSX) Stock Return (Recent) Comparison With Peers Five-Day Return: ABT highest at 2.3%; ILMN lowest at -4.7% Ten-Day Return: ABT highest at 3.7%; ILMN lowest at -4.8% Twenty-One Day Return: ABT highest at -7.5%; ILMN lowest at -23.0% may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. Of 102 instances in the last ten years that BSX stock saw a twenty-one-day fall of 9% or more, 74 resulted in BSX stock rising over the subsequent one-month period (twenty-one trading days). This pattern suggests a higher chance of a rise in BSX stock over the next five days, ten days, and the next month. | Boston Scientific (BSX) Stock Return (Recent) Comparison With Peers Five-Day Return: ABT highest at 2.3%; ILMN lowest at -4.7% Ten-Day Return: ABT highest at 3.7%; ILMN lowest at -4.8% Twenty-One Day Return: ABT highest at -7.5%; ILMN lowest at -23.0% may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. Boston Scientific stock (NYSE: BSX) has seen a 9% fall in a month, in line with the broader S&P500, which is down 8%. Going by historical performance, there is a high chance of a rise for Boston Scientific stock over the next month. |
31551.0 | 2022-07-05 00:00:00 UTC | The Zacks Analyst Blog Highlights Abbott, T-Mobile US, Intuit, Analog Devices and The Progressive | ABT | https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-abbott-t-mobile-us-intuit-analog-devices-and-the | nan | nan | For Immediate Release
Chicago, IL – July 5, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog includes Abbott Laboratories ABT, T-Mobile US, Inc. TMUS, Intuit Inc. INTU, Analog Devices, Inc. ADI and The Progressive Corp. PGR
Here are highlights from Friday’s Analyst Blog:
Top Stock Reports for Abbott Laboratories, T-Mobile and Intuit
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories, T-Mobile US, Inc. and Intuit Inc.. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today's research reports here >>>
Abbott shares have declined -6.5% over the past year against the Zacks Medical - Products industry's decline of -31.0%. The company's pediatric Nutrition sales reported a 4.4% year-over-year decline on an organic basis which has negatively impacted by a voluntary recall of certain powder formulas manufactured at one of Abbott's U.S. plants.
However, barring the Nutrition segment, the company registered organic sales growth across all its core operating segments. Global COVID-19 testing-related sales were led by rapid testing products. Within Diabetes Care, the company has been in the limelight for developments in its flagship, sensor-based continuous glucose monitoring system, FreeStyle Libre. Within Adult Nutrition, the company gained from the strong performance of Ensure and Glucerna brands.
(You can read the full research report on Abbott here >>>)
T-Mobile shares have outperformed the Zacks Wireless National industry over the year-to-date basis (+16.0% vs. +6.7%). The company is on track to complete the Sprint customer network migration mid-year and decommissioning by the year-end. It is expanding its Home Internet pilot extensively while preparing to launch the 5G Home Internet service. Its Extended Range 5G covers 315 million people or 95% of Americans. The Ultra Capacity 5G covers 225 million people and nearly 85% of T-Mobile's customers.
About 45% of postpaid customers are using a 5G phone, and 5G devices account for more than half of the total network traffic. However, it operates in a fiercely competitive and almost saturated U.S. telecom market. Low-priced plans for consumers and small enterprises have not improved the bottom line. Promotional activities to lure customers from rivals hurt its profitability.
(You can read the full research report on T-Mobile here >>>)
Intuit shares have declined -22.1% over the past year against the Zacks Computer - Software industry's decline of -15.4%. The company's near-term prospect looks gloomy as the global lockdown amid the coronavirus crisis has affected small businesses, posing risks to its revenue growth. Additionally, higher costs and expenses due to increased investments in marketing and engineering teams are likely to continue impacting bottom-line results in the near term.
However, Intuit is benefiting from strong momentum in online ecosystem revenues and solid professional tax revenues. The TurboTax Live offering is also driving growth in the Consumer tax business. Solid momentum in the company's lending product, QuickBooks Capital, remains positive. Moreover, the company's strategy of shifting its business to a cloud-based subscription model will help generate stable revenues over the long run.
(You can read the full research report on Intuit here >>>)
Other noteworthy reports we are featuring today include Analog Devices, Inc.. and The Progressive Corp..
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Abbott Laboratories (ABT): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks recently featured in the blog includes Abbott Laboratories ABT, T-Mobile US, Inc. TMUS, Intuit Inc. INTU, Analog Devices, Inc. ADI and The Progressive Corp. PGR Here are highlights from Friday’s Analyst Blog: Top Stock Reports for Abbott Laboratories, T-Mobile and Intuit The Zacks Research Daily presents the best research output of our analyst team. Abbott Laboratories (ABT): Free Stock Analysis Report The company's pediatric Nutrition sales reported a 4.4% year-over-year decline on an organic basis which has negatively impacted by a voluntary recall of certain powder formulas manufactured at one of Abbott's U.S. plants. | Stocks recently featured in the blog includes Abbott Laboratories ABT, T-Mobile US, Inc. TMUS, Intuit Inc. INTU, Analog Devices, Inc. ADI and The Progressive Corp. PGR Here are highlights from Friday’s Analyst Blog: Top Stock Reports for Abbott Laboratories, T-Mobile and Intuit The Zacks Research Daily presents the best research output of our analyst team. Abbott Laboratories (ABT): Free Stock Analysis Report Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories, T-Mobile US, Inc. and Intuit Inc.. | Stocks recently featured in the blog includes Abbott Laboratories ABT, T-Mobile US, Inc. TMUS, Intuit Inc. INTU, Analog Devices, Inc. ADI and The Progressive Corp. PGR Here are highlights from Friday’s Analyst Blog: Top Stock Reports for Abbott Laboratories, T-Mobile and Intuit The Zacks Research Daily presents the best research output of our analyst team. Abbott Laboratories (ABT): Free Stock Analysis Report Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories, T-Mobile US, Inc. and Intuit Inc.. | Stocks recently featured in the blog includes Abbott Laboratories ABT, T-Mobile US, Inc. TMUS, Intuit Inc. INTU, Analog Devices, Inc. ADI and The Progressive Corp. PGR Here are highlights from Friday’s Analyst Blog: Top Stock Reports for Abbott Laboratories, T-Mobile and Intuit The Zacks Research Daily presents the best research output of our analyst team. Abbott Laboratories (ABT): Free Stock Analysis Report Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. |
31552.0 | 2022-07-01 00:00:00 UTC | Abbott (ABT) Outpaces Stock Market Gains: What You Should Know | ABT | https://www.nasdaq.com/articles/abbott-abt-outpaces-stock-market-gains%3A-what-you-should-know-2 | nan | nan | Abbott (ABT) closed the most recent trading day at $110.22, moving +1.45% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.06%. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 0.4%.
Coming into today, shares of the maker of infant formula, medical devices and drugs had lost 7.54% in the past month. In that same time, the Medical sector lost 3.76%, while the S&P 500 lost 8.3%.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. This is expected to be July 20, 2022. In that report, analysts expect Abbott to post earnings of $1.48 per share. This would mark year-over-year growth of 26.5%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.39 billion, up 1.6% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.83 per share and revenue of $41.69 billion, which would represent changes of -7.29% and -3.22%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Abbott. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.66% higher within the past month. Abbott is currently a Zacks Rank #3 (Hold).
Digging into valuation, Abbott currently has a Forward P/E ratio of 22.51. This valuation marks a premium compared to its industry's average Forward P/E of 21.12.
Also, we should mention that ABT has a PEG ratio of 3.93. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ABT's industry had an average PEG ratio of 1.45 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Abbott Laboratories (ABT): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott (ABT) closed the most recent trading day at $110.22, moving +1.45% from the previous trading session. Also, we should mention that ABT has a PEG ratio of 3.93. ABT's industry had an average PEG ratio of 1.45 as of yesterday's close. | Abbott (ABT) closed the most recent trading day at $110.22, moving +1.45% from the previous trading session. Also, we should mention that ABT has a PEG ratio of 3.93. ABT's industry had an average PEG ratio of 1.45 as of yesterday's close. | Abbott (ABT) closed the most recent trading day at $110.22, moving +1.45% from the previous trading session. Also, we should mention that ABT has a PEG ratio of 3.93. ABT's industry had an average PEG ratio of 1.45 as of yesterday's close. | Abbott (ABT) closed the most recent trading day at $110.22, moving +1.45% from the previous trading session. Also, we should mention that ABT has a PEG ratio of 3.93. ABT's industry had an average PEG ratio of 1.45 as of yesterday's close. |
31553.0 | 2022-07-01 00:00:00 UTC | Top Stock Reports for Abbott Laboratories, T-Mobile & Intuit | ABT | https://www.nasdaq.com/articles/top-stock-reports-for-abbott-laboratories-t-mobile-intuit | nan | nan | Friday, July 1, 2022
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories (ABT), T-Mobile US, Inc. (TMUS) and Intuit Inc. (INTU). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Abbott shares have declined -6.5% over the past year against the Zacks Medical - Products industry’s decline of -31.0%. The company’s pediatric Nutrition sales reported a 4.4% year-over-year decline on an organic basis which has negatively impacted by a voluntary recall of certain powder formulas manufactured at one of Abbott's U.S. plants.
However, barring the Nutrition segment, the company registered organic sales growth across all its core operating segments. Global COVID-19 testing-related sales were led by rapid testing products. Within Diabetes Care, the company has been in the limelight for developments in its flagship, sensor-based continuous glucose monitoring system, FreeStyle Libre. Within Adult Nutrition, the company gained from the strong performance of Ensure and Glucerna brands.
(You can read the full research report on Abbott here >>>)
T-Mobile shares have outperformed the Zacks Wireless National industry over the year-to-date basis (+16.0% vs. +6.7%). The company is on track to complete the Sprint customer network migration mid-year and decommissioning by the year-end. It is expanding its Home Internet pilot extensively while preparing to launch the 5G Home Internet service. Its Extended Range 5G covers 315 million people or 95% of Americans. The Ultra Capacity 5G covers 225 million people and nearly 85% of T-Mobile’s customers.
About 45% of postpaid customers are using a 5G phone, and 5G devices account for more than half of the total network traffic. However, it operates in a fiercely competitive and almost saturated U.S. telecom market. Low-priced plans for consumers and small enterprises have not improved the bottom line. Promotional activities to lure customers from rivals hurt its profitability.
(You can read the full research report on T-Mobile here >>>)
Intuit shares have declined -22.1% over the past year against the Zacks Computer - Software industry’s decline of -15.4%. The company’s near-term prospect looks gloomy as the global lockdown amid the coronavirus crisis has affected small businesses, posing risks to its revenue growth. Additionally, higher costs and expenses due to increased investments in marketing and engineering teams are likely to continue impacting bottom-line results in the near term.
However, Intuit is benefiting from strong momentum in online ecosystem revenues and solid professional tax revenues. The TurboTax Live offering is also driving growth in the Consumer tax business. Solid momentum in the company’s lending product, QuickBooks Capital, remains positive. Moreover, the company’s strategy of shifting its business to a cloud-based subscription model will help generate stable revenues over the long run.
(You can read the full research report on Intuit here >>>)
Other noteworthy reports we are featuring today include BHP Group Ltd. (BHP), Analog Devices, Inc. (ADI) and The Progressive Corp. (PGR).
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Abbott's (ABT) Diabetes Arm Grows Amid Baby Formula Crisis
T-Mobile (TMUS) Poised to Benefit From Extensive 5G Coverage
Intuit (INTU) Rides on Product Refresh, Higher Subscriptions
Featured Reports
Rising Iron Prices to Aid BHP Group (BHP) Amid High Costs
The Zacks analyst believes improving iron prices, focus on lowering debt, investment in major projects and efforts to make operations more efficient will drive BHP's results amid inflated costs.
Progressive's (PGR) Solid Policies in Force Aid, Cat Loss Ail
Per the Zacks analyst, Progressive is set to grow on, solid policies in force, competitive rates and leadership position. However, cat loss exposure inducing underwriting volatility ails.
America Movil (AMX) Benefits From High Demand For 5G network
Per the Zacks analyst, America Movil's performance is gaining from robust demand for 5G and wireless network. However, high network investments and firm's high leverage remain concerns.
High Margin Assets & Cost Management Aid Devon Energy (DVN)
Per the Zacks analyst Devon's strong production from its high margins assets and efficient cost management will drive performance over the long run.
Chipotle (CMG) Banks on Digital Initiatives, High Costs Ail
Per the Zacks analyst, Chipotle's consistent strength in digital sales and positive customer reception to new menu items bode well. However, inflationary wage pressures are a concern.
Upbeat Air-travel Demand Aids Allegiant (ALGT), Costs Ail
The Zacks analyst is impressed with the buoyant air-travel demand. High fuel costs are , however, concerning.
Pandemic-led Supply Constraints Hurt Analog Devices (ADI)
Per the Zacks analyst, coronavirus pandemic induced supply-chain disruptions are hurting Analog Devices. Also, the ongoing conflict between Russia and Ukraine remains a headwind.
New Upgrades
Nutrien (NTR) Gains on Strong Demand and Higher Prices
Per the Zacks analyst, the company will gain from solid demand for fertilizers driven by the strength in global agriculture markets. Higher prices for crop nutrients will also support its margins.
Imperial (IMO) to Gain from Majority Holding by ExxonMobil
The Zacks analyst believes that Imperial Oil's financial backing by majority owner ExxonMobil adds to the company's financial stability and helps it to access cheap capital.
Higher Rates, Loans, GEAR Up initiatives Aid Comerica (CMA)
Per the Zacks analyst, Comerica's focus on revenue-enhancing GEAR Up initiatives will help drive operational efficiency. Also, higher interest rates and decent loan demand will aid top line growth.
New Downgrades
B&G Foods' (BGS) Margins Troubled by Input Cost Inflation
Per the Zacks analyst, B&G Foods has been grappling with input cost inflation. In 2022, management expects to keep seeing cost inflation for inputs, like ingredients, packaging and transportation.
Supply Chain Bottleneck to Hurt Big Lots' (BIG) Margins
Per the Zacks analyst, supply chain and freight headwinds, as well as inflationary pressures are hurting Big Lots' margins. In first-quarter fiscal 2022, gross margin contracted 350 basis points.
Dull Personal Care Sales, Weak Margins Irk Amedisys (AMED)
The Zacks analyst is concerned about Amedisys' declining sales across the Personal Care segment. Contraction of both margins on escalating costs and expenses raise apprehension as well.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Abbott Laboratories (ABT): Free Stock Analysis Report
Analog Devices, Inc. (ADI): Free Stock Analysis Report
BHP Group Limited Sponsored ADR (BHP): Free Stock Analysis Report
Intuit Inc. (INTU): Free Stock Analysis Report
The Progressive Corporation (PGR): Free Stock Analysis Report
TMobile US, Inc. (TMUS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Abbott's (ABT) Diabetes Arm Grows Amid Baby Formula Crisis T-Mobile (TMUS) Poised to Benefit From Extensive 5G Coverage Intuit (INTU) Rides on Product Refresh, Higher Subscriptions Featured Reports Rising Iron Prices to Aid BHP Group (BHP) Amid High Costs The Zacks analyst believes improving iron prices, focus on lowering debt, investment in major projects and efforts to make operations more efficient will drive BHP's results amid inflated costs. Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories (ABT), T-Mobile US, Inc. (TMUS) and Intuit Inc. (INTU). Abbott Laboratories (ABT): Free Stock Analysis Report | Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories (ABT), T-Mobile US, Inc. (TMUS) and Intuit Inc. (INTU). If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Abbott's (ABT) Diabetes Arm Grows Amid Baby Formula Crisis T-Mobile (TMUS) Poised to Benefit From Extensive 5G Coverage Intuit (INTU) Rides on Product Refresh, Higher Subscriptions Featured Reports Rising Iron Prices to Aid BHP Group (BHP) Amid High Costs The Zacks analyst believes improving iron prices, focus on lowering debt, investment in major projects and efforts to make operations more efficient will drive BHP's results amid inflated costs. Abbott Laboratories (ABT): Free Stock Analysis Report | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Abbott's (ABT) Diabetes Arm Grows Amid Baby Formula Crisis T-Mobile (TMUS) Poised to Benefit From Extensive 5G Coverage Intuit (INTU) Rides on Product Refresh, Higher Subscriptions Featured Reports Rising Iron Prices to Aid BHP Group (BHP) Amid High Costs The Zacks analyst believes improving iron prices, focus on lowering debt, investment in major projects and efforts to make operations more efficient will drive BHP's results amid inflated costs. Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories (ABT), T-Mobile US, Inc. (TMUS) and Intuit Inc. (INTU). Abbott Laboratories (ABT): Free Stock Analysis Report | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Abbott's (ABT) Diabetes Arm Grows Amid Baby Formula Crisis T-Mobile (TMUS) Poised to Benefit From Extensive 5G Coverage Intuit (INTU) Rides on Product Refresh, Higher Subscriptions Featured Reports Rising Iron Prices to Aid BHP Group (BHP) Amid High Costs The Zacks analyst believes improving iron prices, focus on lowering debt, investment in major projects and efforts to make operations more efficient will drive BHP's results amid inflated costs. Today's Research Daily features new research reports on 16 major stocks, including Abbott Laboratories (ABT), T-Mobile US, Inc. (TMUS) and Intuit Inc. (INTU). Abbott Laboratories (ABT): Free Stock Analysis Report |
31554.0 | 2022-07-01 00:00:00 UTC | iShares Russell 1000 ETF Experiences Big Inflow | ABT | https://www.nasdaq.com/articles/ishares-russell-1000-etf-experiences-big-inflow-2 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 ETF (Symbol: IWB) where we have detected an approximate $207.8 million dollar inflow -- that's a 0.8% increase week over week in outstanding units (from 124,150,000 to 125,150,000). Among the largest underlying components of IWB, in trading today Abbott Laboratories (Symbol: ABT) is down about 0.6%, Bristol Myers Squibb Co. (Symbol: BMY) is down about 1.4%, and Danaher Corp (Symbol: DHR) is lower by about 0.5%. For a complete list of holdings, visit the IWB Holdings page » The chart below shows the one year price performance of IWB, versus its 200 day moving average:
Looking at the chart above, IWB's low point in its 52 week range is $199.58 per share, with $267.13 as the 52 week high point — that compares with a last trade of $206.57. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IWB, in trading today Abbott Laboratories (Symbol: ABT) is down about 0.6%, Bristol Myers Squibb Co. (Symbol: BMY) is down about 1.4%, and Danaher Corp (Symbol: DHR) is lower by about 0.5%. For a complete list of holdings, visit the IWB Holdings page » The chart below shows the one year price performance of IWB, versus its 200 day moving average: Looking at the chart above, IWB's low point in its 52 week range is $199.58 per share, with $267.13 as the 52 week high point — that compares with a last trade of $206.57. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of IWB, in trading today Abbott Laboratories (Symbol: ABT) is down about 0.6%, Bristol Myers Squibb Co. (Symbol: BMY) is down about 1.4%, and Danaher Corp (Symbol: DHR) is lower by about 0.5%. For a complete list of holdings, visit the IWB Holdings page » The chart below shows the one year price performance of IWB, versus its 200 day moving average: Looking at the chart above, IWB's low point in its 52 week range is $199.58 per share, with $267.13 as the 52 week high point — that compares with a last trade of $206.57. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ». | Among the largest underlying components of IWB, in trading today Abbott Laboratories (Symbol: ABT) is down about 0.6%, Bristol Myers Squibb Co. (Symbol: BMY) is down about 1.4%, and Danaher Corp (Symbol: DHR) is lower by about 0.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 ETF (Symbol: IWB) where we have detected an approximate $207.8 million dollar inflow -- that's a 0.8% increase week over week in outstanding units (from 124,150,000 to 125,150,000). For a complete list of holdings, visit the IWB Holdings page » The chart below shows the one year price performance of IWB, versus its 200 day moving average: Looking at the chart above, IWB's low point in its 52 week range is $199.58 per share, with $267.13 as the 52 week high point — that compares with a last trade of $206.57. | Among the largest underlying components of IWB, in trading today Abbott Laboratories (Symbol: ABT) is down about 0.6%, Bristol Myers Squibb Co. (Symbol: BMY) is down about 1.4%, and Danaher Corp (Symbol: DHR) is lower by about 0.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 ETF (Symbol: IWB) where we have detected an approximate $207.8 million dollar inflow -- that's a 0.8% increase week over week in outstanding units (from 124,150,000 to 125,150,000). For a complete list of holdings, visit the IWB Holdings page » The chart below shows the one year price performance of IWB, versus its 200 day moving average: Looking at the chart above, IWB's low point in its 52 week range is $199.58 per share, with $267.13 as the 52 week high point — that compares with a last trade of $206.57. |
31555.0 | 2022-07-01 00:00:00 UTC | US To Import 17 Mln Bottles Of Infant Formula From New Zealand, Ireland | ABT | https://www.nasdaq.com/articles/us-to-import-17-mln-bottles-of-infant-formula-from-new-zealand-ireland | nan | nan | (RTTNews) - The U.S. Food and Drug Administration announced the intended availability of around 17 million bottles equivalent of general infant formula to be imported from New Zealand and Ireland.
Under the FDA's enforcement discretion to source more infant formula to the U.S., French food company Danone SA will send 555,000 cans Aptamil Gold Plus from New Zealand. This is equivalent to about 1.1 million pounds or about 16.5 million full-size, 8-ounce bottles. The infant formula is likely to be available starting August across several retail channels in the U.S.
Further, Abbott Nutrition will import 18,677 cans of Similac Advance 2'-FL Stage 1 from Ireland. This is equivalent to about 35,000 pounds or about 535,000 full-size, 8-ounce bottles. The product will be available in mid- July.
The U.S. Department of Health and Human Services is evaluating options for getting the product to the U.S. as quickly as possible.
Danone earlier had agreed to send about 750,000 cans of Aptamil First Infant Milk Stage 1 in July from Ireland. This would be equivalent to about 1.3 million pounds or nearly 19 million full-size, 8-ounce bottles.
Earlier this week, the FDA announced the availability of around 696,000 cans or about 21 million full-size, 8-ounce bottles of general formula milk from Australian organic infant formula and baby food producer, Bellamy's Organic. Earlier, UK-based Global Kosher also agreed to send more than 4.8 million cans of general infant formula, which are equal to more than 128 million full-size, 8-ounce bottles.
In its latest update, the FDA noted that its increased flexibilities have resulted in total estimated quantity of 18.3 million cans, or about 400 million full-size, 8-ounce bottles of infant formula products from various countries.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - The U.S. Food and Drug Administration announced the intended availability of around 17 million bottles equivalent of general infant formula to be imported from New Zealand and Ireland. Under the FDA's enforcement discretion to source more infant formula to the U.S., French food company Danone SA will send 555,000 cans Aptamil Gold Plus from New Zealand. The infant formula is likely to be available starting August across several retail channels in the U.S. Further, Abbott Nutrition will import 18,677 cans of Similac Advance 2'-FL Stage 1 from Ireland. | Danone earlier had agreed to send about 750,000 cans of Aptamil First Infant Milk Stage 1 in July from Ireland. Earlier this week, the FDA announced the availability of around 696,000 cans or about 21 million full-size, 8-ounce bottles of general formula milk from Australian organic infant formula and baby food producer, Bellamy's Organic. In its latest update, the FDA noted that its increased flexibilities have resulted in total estimated quantity of 18.3 million cans, or about 400 million full-size, 8-ounce bottles of infant formula products from various countries. | Earlier this week, the FDA announced the availability of around 696,000 cans or about 21 million full-size, 8-ounce bottles of general formula milk from Australian organic infant formula and baby food producer, Bellamy's Organic. Earlier, UK-based Global Kosher also agreed to send more than 4.8 million cans of general infant formula, which are equal to more than 128 million full-size, 8-ounce bottles. In its latest update, the FDA noted that its increased flexibilities have resulted in total estimated quantity of 18.3 million cans, or about 400 million full-size, 8-ounce bottles of infant formula products from various countries. | (RTTNews) - The U.S. Food and Drug Administration announced the intended availability of around 17 million bottles equivalent of general infant formula to be imported from New Zealand and Ireland. Danone earlier had agreed to send about 750,000 cans of Aptamil First Infant Milk Stage 1 in July from Ireland. Earlier, UK-based Global Kosher also agreed to send more than 4.8 million cans of general infant formula, which are equal to more than 128 million full-size, 8-ounce bottles. |
31556.0 | 2022-06-30 00:00:00 UTC | Analysts Predict 25% Upside For The Holdings of VOOV | ABT | https://www.nasdaq.com/articles/analysts-predict-25-upside-for-the-holdings-of-voov | nan | nan | Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the Vanguard S&P 500 Value ETF (Symbol: VOOV), we found that the implied analyst target price for the ETF based upon its underlying holdings is $167.16 per unit.
With VOOV trading at a recent price near $133.43 per unit, that means that analysts see 25.28% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of VOOV's underlying holdings with notable upside to their analyst target prices are Under Armour Inc (Symbol: UA), Abbott Laboratories (Symbol: ABT), and Truist Financial Corp (Symbol: TFC). Although UA has traded at a recent price of $7.81/share, the average analyst target is 28.04% higher at $10.00/share. Similarly, ABT has 27.57% upside from the recent share price of $109.10 if the average analyst target price of $139.18/share is reached, and analysts on average are expecting TFC to reach a target price of $60.29/share, which is 27.20% above the recent price of $47.40. Below is a twelve month price history chart comparing the stock performance of UA, ABT, and TFC:
Below is a summary table of the current analyst target prices discussed above:
NAME SYMBOL RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
Vanguard S&P 500 Value ETF VOOV $133.43 $167.16 25.28%
Under Armour Inc UA $7.81 $10.00 28.04%
Abbott Laboratories ABT $109.10 $139.18 27.57%
Truist Financial Corp TFC $47.40 $60.29 27.20%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Vanguard S&P 500 Value ETF VOOV $133.43 $167.16 25.28% Under Armour Inc UA $7.81 $10.00 28.04% Abbott Laboratories ABT $109.10 $139.18 27.57% Truist Financial Corp TFC $47.40 $60.29 27.20% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of VOOV's underlying holdings with notable upside to their analyst target prices are Under Armour Inc (Symbol: UA), Abbott Laboratories (Symbol: ABT), and Truist Financial Corp (Symbol: TFC). Similarly, ABT has 27.57% upside from the recent share price of $109.10 if the average analyst target price of $139.18/share is reached, and analysts on average are expecting TFC to reach a target price of $60.29/share, which is 27.20% above the recent price of $47.40. | Three of VOOV's underlying holdings with notable upside to their analyst target prices are Under Armour Inc (Symbol: UA), Abbott Laboratories (Symbol: ABT), and Truist Financial Corp (Symbol: TFC). Similarly, ABT has 27.57% upside from the recent share price of $109.10 if the average analyst target price of $139.18/share is reached, and analysts on average are expecting TFC to reach a target price of $60.29/share, which is 27.20% above the recent price of $47.40. Vanguard S&P 500 Value ETF VOOV $133.43 $167.16 25.28% Under Armour Inc UA $7.81 $10.00 28.04% Abbott Laboratories ABT $109.10 $139.18 27.57% Truist Financial Corp TFC $47.40 $60.29 27.20% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? | Similarly, ABT has 27.57% upside from the recent share price of $109.10 if the average analyst target price of $139.18/share is reached, and analysts on average are expecting TFC to reach a target price of $60.29/share, which is 27.20% above the recent price of $47.40. Three of VOOV's underlying holdings with notable upside to their analyst target prices are Under Armour Inc (Symbol: UA), Abbott Laboratories (Symbol: ABT), and Truist Financial Corp (Symbol: TFC). Below is a twelve month price history chart comparing the stock performance of UA, ABT, and TFC: Below is a summary table of the current analyst target prices discussed above: | Vanguard S&P 500 Value ETF VOOV $133.43 $167.16 25.28% Under Armour Inc UA $7.81 $10.00 28.04% Abbott Laboratories ABT $109.10 $139.18 27.57% Truist Financial Corp TFC $47.40 $60.29 27.20% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of VOOV's underlying holdings with notable upside to their analyst target prices are Under Armour Inc (Symbol: UA), Abbott Laboratories (Symbol: ABT), and Truist Financial Corp (Symbol: TFC). Similarly, ABT has 27.57% upside from the recent share price of $109.10 if the average analyst target price of $139.18/share is reached, and analysts on average are expecting TFC to reach a target price of $60.29/share, which is 27.20% above the recent price of $47.40. |
31557.0 | 2022-06-30 00:00:00 UTC | 2 of the Safest Stocks to Buy in a Recession | ABT | https://www.nasdaq.com/articles/2-of-the-safest-stocks-to-buy-in-a-recession | nan | nan | What's next for the U.S. economy? It's hard to even wager a guess. Soaring oil prices caused by Russia's invasion of Ukraine at the tail end of a global pandemic present an especially unpredictable economic environment.
In uncertain times like these, it helps to own stocks that you can rely on to produce strong cash flows. With products many of us can't live without, these two giants of the healthcare sector have a proven ability to withstand economic downturns. Here's why they're still some of the most recession-proof stocks you can buy now.
1. AbbVie
Shares of AbbVie (NYSE: ABBV) are up by about 13% this year, which is a lot better than the benchmark S&P 500 index, which has lost 20% over the same period. With lots of high-margin revenue from top-selling drugs, there's a good chance that AbbVie stock will remain a safe haven even if the U.S. economy plunges into a deep recession.
The top-selling drug for AbbVie is Humira. Last year, U.S. sales of this anti-inflammatory injection for the treatment of rheumatoid arthritis and psoriasis reached a whopping $17.3 billion.
At least six biosimilar versions of Humira have already been approved by the FDA, and they will begin heavily pressuring U.S. Humira sales in 2023. This isn't going to stop AbbVie from growing, though. In years past, the company plowed Humira profits into the development of new drugs that will offset losses to incoming competition.
This is a great stock to buy and hold now because its post-Humira exclusivity strategy is working. First-quarter sales of Skyrizi, a new psoriasis drug, soared 64% year over year to $940 million. Sales of Rinvoq, a new arthritis drug, rose 54% year over year to $465 million. AbbVie's largest Humira-offsetting investment, Botox, is also well positioned to drive growth indefinitely.
Right now, you can pick up shares of AbbVie for just 10.9 times the company's earnings forecast for 2022. A relatively low multiple limits your downside risk, and so does a dividend that currently offers a 3.7% yield. With Rinvoq, Skyrizi, and Botox to drive earnings growth, investors can look forward to years of dividend raises ahead.
2. Abbott Laboratories
AbbVie spun off from Abbott Laboratories (NYSE: ABT) in 2013 as a way to shield the parent company from the incoming competition for Humira. If you're looking for a reliable dividend, you'll be hard pressed to beat this healthcare stock. Abbott Laboratories recently declared its 394th consecutive quarterly dividend, and it's been 50 years since the company went more than a year without raising the payout at least once. At recent prices, the shares offer a 1.8% yield.
Abbott Laboratories is a healthcare conglomerate, and diagnostics is its largest operating segment. In early 2020, Abbott Laboratories rapidly developed some COVID-19 tests that still command a leading share of the market. In the first quarter, the company reported a whopping $3.3 billion in global COVID-19 testing-related sales.
Abbott expects COVID test sales to decline in the second half of 2022, but that won't stop this diversified conglomerate's bottom line from expanding. One of Abbott's largest growth drivers in the years ahead will be its continuous glucose monitoring device, the Freestyle Libre 3. The FDA cleared it for use in May, so we could see it contribute significantly to total revenue in the second half of 2022.
Abbott's stock price has fallen around 24% this year, and at the moment, you can scoop up shares for just 22.8 times the company's earnings expectation for 2022. The average stock in the S&P 500 index trades at around 20.4 times trailing earnings, and Abbott is growing much faster than average. Despite declining COVID test revenue, first-quarter sales grew 17.5% year over year once adjusted to account for a stronger dollar.
People put off buying cars, clothes, and vacation homes during a recession, but blood glucose monitors are a must-have, regardless of your financial situation. So it's not hard to imagine Abbott's diversified healthcare business growing at a double-digit percentage all the way through a possible recession.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories AbbVie spun off from Abbott Laboratories (NYSE: ABT) in 2013 as a way to shield the parent company from the incoming competition for Humira. Soaring oil prices caused by Russia's invasion of Ukraine at the tail end of a global pandemic present an especially unpredictable economic environment. With lots of high-margin revenue from top-selling drugs, there's a good chance that AbbVie stock will remain a safe haven even if the U.S. economy plunges into a deep recession. | Abbott Laboratories AbbVie spun off from Abbott Laboratories (NYSE: ABT) in 2013 as a way to shield the parent company from the incoming competition for Humira. First-quarter sales of Skyrizi, a new psoriasis drug, soared 64% year over year to $940 million. With Rinvoq, Skyrizi, and Botox to drive earnings growth, investors can look forward to years of dividend raises ahead. | Abbott Laboratories AbbVie spun off from Abbott Laboratories (NYSE: ABT) in 2013 as a way to shield the parent company from the incoming competition for Humira. Abbott Laboratories recently declared its 394th consecutive quarterly dividend, and it's been 50 years since the company went more than a year without raising the payout at least once. Abbott's stock price has fallen around 24% this year, and at the moment, you can scoop up shares for just 22.8 times the company's earnings expectation for 2022. | Abbott Laboratories AbbVie spun off from Abbott Laboratories (NYSE: ABT) in 2013 as a way to shield the parent company from the incoming competition for Humira. This isn't going to stop AbbVie from growing, though. Abbott Laboratories recently declared its 394th consecutive quarterly dividend, and it's been 50 years since the company went more than a year without raising the payout at least once. |
31558.0 | 2022-06-29 00:00:00 UTC | Abbott (ABT) Gains As Market Dips: What You Should Know | ABT | https://www.nasdaq.com/articles/abbott-abt-gains-as-market-dips%3A-what-you-should-know-0 | nan | nan | Abbott (ABT) closed at $109.10 in the latest trading session, marking a +1.99% move from the prior day. This change outpaced the S&P 500's 0.07% loss on the day. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq added 0.02%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had lost 8.93% over the past month, lagging the Medical sector's loss of 5.47% and the S&P 500's loss of 7.99% in that time.
Abbott will be looking to display strength as it nears its next earnings release. On that day, Abbott is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 5.13%. Meanwhile, our latest consensus estimate is calling for revenue of $10.39 billion, up 1.6% from the prior-year quarter.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.69 billion. These results would represent year-over-year changes of -7.29% and -3.22%, respectively.
Investors should also note any recent changes to analyst estimates for Abbott. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.61% higher within the past month. Abbott is currently a Zacks Rank #3 (Hold).
Investors should also note Abbott's current valuation metrics, including its Forward P/E ratio of 22.16. This valuation marks a premium compared to its industry's average Forward P/E of 20.96.
Investors should also note that ABT has a PEG ratio of 3.87 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 1.45 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ABT in the coming trading sessions, be sure to utilize Zacks.com.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott (ABT) closed at $109.10 in the latest trading session, marking a +1.99% move from the prior day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.69 billion. Investors should also note that ABT has a PEG ratio of 3.87 right now. | Abbott (ABT) closed at $109.10 in the latest trading session, marking a +1.99% move from the prior day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.69 billion. Investors should also note that ABT has a PEG ratio of 3.87 right now. | ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.69 billion. Abbott (ABT) closed at $109.10 in the latest trading session, marking a +1.99% move from the prior day. Investors should also note that ABT has a PEG ratio of 3.87 right now. | Abbott (ABT) closed at $109.10 in the latest trading session, marking a +1.99% move from the prior day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.69 billion. Investors should also note that ABT has a PEG ratio of 3.87 right now. |
31559.0 | 2022-06-29 00:00:00 UTC | ESLOY or ABT: Which Is the Better Value Stock Right Now? | ABT | https://www.nasdaq.com/articles/esloy-or-abt%3A-which-is-the-better-value-stock-right-now | nan | nan | Investors with an interest in Medical - Products stocks have likely encountered both EssilorLuxottica Unsponsored ADR (ESLOY) and Abbott (ABT). But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
EssilorLuxottica Unsponsored ADR has a Zacks Rank of #2 (Buy), while Abbott has a Zacks Rank of #3 (Hold) right now. Investors should feel comfortable knowing that ESLOY likely has seen a stronger improvement to its earnings outlook than ABT has recently. But this is only part of the picture for value investors.
Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
The Value category of the Style Scores system identifies undervalued companies by looking at a number of key metrics. These include the long-favored P/E ratio, P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that help us determine a company's fair value.
ESLOY currently has a forward P/E ratio of 22.11, while ABT has a forward P/E of 22.16. We also note that ESLOY has a PEG ratio of 1.05. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. ABT currently has a PEG ratio of 3.87.
Another notable valuation metric for ESLOY is its P/B ratio of 1.56. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. For comparison, ABT has a P/B of 5.26.
These are just a few of the metrics contributing to ESLOY's Value grade of B and ABT's Value grade of C.
ESLOY stands above ABT thanks to its solid earnings outlook, and based on these valuation figures, we also feel that ESLOY is the superior value option right now.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors with an interest in Medical - Products stocks have likely encountered both EssilorLuxottica Unsponsored ADR (ESLOY) and Abbott (ABT). Investors should feel comfortable knowing that ESLOY likely has seen a stronger improvement to its earnings outlook than ABT has recently. ESLOY currently has a forward P/E ratio of 22.11, while ABT has a forward P/E of 22.16. | Investors with an interest in Medical - Products stocks have likely encountered both EssilorLuxottica Unsponsored ADR (ESLOY) and Abbott (ABT). Investors should feel comfortable knowing that ESLOY likely has seen a stronger improvement to its earnings outlook than ABT has recently. ESLOY currently has a forward P/E ratio of 22.11, while ABT has a forward P/E of 22.16. | Investors with an interest in Medical - Products stocks have likely encountered both EssilorLuxottica Unsponsored ADR (ESLOY) and Abbott (ABT). These are just a few of the metrics contributing to ESLOY's Value grade of B and ABT's Value grade of C. ESLOY stands above ABT thanks to its solid earnings outlook, and based on these valuation figures, we also feel that ESLOY is the superior value option right now. Investors should feel comfortable knowing that ESLOY likely has seen a stronger improvement to its earnings outlook than ABT has recently. | Investors with an interest in Medical - Products stocks have likely encountered both EssilorLuxottica Unsponsored ADR (ESLOY) and Abbott (ABT). ABT currently has a PEG ratio of 3.87. These are just a few of the metrics contributing to ESLOY's Value grade of B and ABT's Value grade of C. ESLOY stands above ABT thanks to its solid earnings outlook, and based on these valuation figures, we also feel that ESLOY is the superior value option right now. |
31560.0 | 2022-06-29 00:00:00 UTC | The Best Stocks to Invest $5,000 in Right Now | ABT | https://www.nasdaq.com/articles/the-best-stocks-to-invest-%245000-in-right-now-0 | nan | nan | It's nearly impossible to come up with a "best stock to invest in" list that everyone will agree on. That's partly because the stock market brings together people with different goals, investing styles, and income levels. However, beating the market is a pretty good goal.
Let's look at two stocks worth investing $5,000 in right now for investors who want to score market-beating returns in the long run: AbbVie (NYSE: ABBV) and Intuitive Surgical (NASDAQ: ISRG).
ABBV data by YCharts
1. AbbVie
Shares of AbbVie have easily outperformed the market this year, but the company remains reasonably valued. The drugmaker's forward price-to-earnings (P/E) ratio currently stands at 10.9, which compares favorably to the average of 13.5 for the pharmaceutical industry. At these levels, AbbVie is an outstanding stock to buy considering the strength of its underlying business. The company boasts a lineup of blockbuster medicines, including immunology drugs Humira, Rinvoq, and Skyrizi, and cancer treatments Venclexta and Imbruvica.
True, sales of Humira are still dropping abroad due to biosimilar competition, and generics for this medicine will likely enter the U.S. market next year. But even so, Humira will continue to contribute to AbbVie's top line for at least a couple of years, and the company's other immunology drugs, Rinvoq and Skyrizi, will pick up the slack. Other products in AbbVie's arsenal include its Botox franchise.
All of these can help drive top-line growth for AbbVie even after Humira loses patent protection in the U.S. That's not to mention the dozens of ongoing clinical trials AbbVie is running, at least some of which should lead to brand-new approvals or label expansions.
The company's revenue increased by 4.1% year over year in the first quarter to $13.5 billion. And adjusted net earnings for the quarter increased by 9.3% year over year to $3.16 per share.
One more reason to consider investing in AbbVie's stock is the dividend. AbbVie is part of the exclusive group of Dividend Kings -- having raised its payouts for 50 years when including its time under the wing of medical devices giant Abbott Laboratories. AbbVie's current dividend yield of 4.08% is nearly three times as high as the average S&P 500's yield of 1.37%.
There are likely many more years of dividend increases ahead for this drugmaker and its shareholders. While it's hard to know how the rest of the year will unfold -- AbbVie's shares could drop for various reasons -- those playing the long game don't have to worry too much about the next six months.
AbbVie is a solid pharma stock to buy and hold for a while.
2. Intuitive Surgical
Intuitive Surgical hasn't performed nearly as well as AbbVie this year. Shares of the medical devices company have been southbound for the better part of the past six months. The marketwide issues, including economic and geopolitical tensions, are likely weighing on the company.
Intuitive's rich valuation metrics aren't helping either. Even after the recent slump, its forward P/E is 42.3. That's much higher than the healthcare sector's average of 15.9. Even so, Intuitive Surgical is now about as cheap as it has been in the past three years.
ISRG PE Ratio (Forward) data by YCharts
That's good news for patient investors since the company will likely justify its valuation in the long run. Intuitive Surgical remains a leader in the robotic-assisted surgery (RAS) market thanks to its Da Vinci surgical system. The company held an impressive 80% share of this space in 2020. But traditional open surgeries remain more popular than the minimally invasive procedures that RAS devices allow physicians to perform.
That means there is still a massive runway of growth for Intuitive Surgical, especially considering minimally invasive surgeries come with such perks as less bleeding, fewer incisions, and faster recovery times for patients. The bears might point to the mounting competition in the RAS field from such companies as Medtronic, Johnson & Johnson, and Stryker.
Although Intuitive Surgical's peers will almost certainly make headway in the industry in the coming years, in my view there is more than enough room for these companies to coexist. That's especially true given certain demographic trends, such as the world's aging population. According to the World Health Organization, people 60 and older will make up 22% of the world's population by 2050, compared to just 12% in 2015.
This will increase the need for various medical services since seniors tend to consume these services at a higher rate than the rest of the population. Intuitive Surgical is a great stock to buy to ride this long-term trend.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Let's look at two stocks worth investing $5,000 in right now for investors who want to score market-beating returns in the long run: AbbVie (NYSE: ABBV) and Intuitive Surgical (NASDAQ: ISRG). AbbVie is part of the exclusive group of Dividend Kings -- having raised its payouts for 50 years when including its time under the wing of medical devices giant Abbott Laboratories. That means there is still a massive runway of growth for Intuitive Surgical, especially considering minimally invasive surgeries come with such perks as less bleeding, fewer incisions, and faster recovery times for patients. | Let's look at two stocks worth investing $5,000 in right now for investors who want to score market-beating returns in the long run: AbbVie (NYSE: ABBV) and Intuitive Surgical (NASDAQ: ISRG). The company boasts a lineup of blockbuster medicines, including immunology drugs Humira, Rinvoq, and Skyrizi, and cancer treatments Venclexta and Imbruvica. Intuitive Surgical Intuitive Surgical hasn't performed nearly as well as AbbVie this year. | Let's look at two stocks worth investing $5,000 in right now for investors who want to score market-beating returns in the long run: AbbVie (NYSE: ABBV) and Intuitive Surgical (NASDAQ: ISRG). AbbVie Shares of AbbVie have easily outperformed the market this year, but the company remains reasonably valued. Intuitive Surgical Intuitive Surgical hasn't performed nearly as well as AbbVie this year. | One more reason to consider investing in AbbVie's stock is the dividend. Intuitive Surgical Intuitive Surgical hasn't performed nearly as well as AbbVie this year. ISRG PE Ratio (Forward) data by YCharts That's good news for patient investors since the company will likely justify its valuation in the long run. |
31561.0 | 2022-06-27 00:00:00 UTC | Strength Seen in Abbott (ABT): Can Its 3.1% Jump Turn into More Strength? | ABT | https://www.nasdaq.com/articles/strength-seen-in-abbott-abt%3A-can-its-3.1-jump-turn-into-more-strength | nan | nan | Abbott ABT shares ended the last trading session 3.1% higher at $109.45. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 7.5% loss over the past four weeks.
Abbott scored a strong price increase on optimism surrounding the recent late-breaking data for its MitraClip and TriClip. The new findings demonstrated the MitraClip transcatheter edge-to-edge repair (TEER) to be effective at treating patients with leaky valves secondary mitral regurgitation (MR). The data also showed a significant reduction in tricuspid regurgitation (TR) and considerable improvement in quality of life with the TriClip and TriClip G4 TEER systems. Further, market is optimistic about Abbott's first-of-its-kind biowearable for diabetes patients that will continuously monitor glucose and ketone levels in one sensor.
This maker of infant formula, medical devices and drugs is expected to post quarterly earnings of $1.11 per share in its upcoming report, which represents a year-over-year change of -5.1%. Revenues are expected to be $10.36 billion, up 1.4% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Abbott, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on ABT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Abbott belongs to the Zacks Medical - Products industry. Another stock from the same industry, IM Cannabis Corp. IMCC, closed the last trading session 1.3% higher at $0.73. Over the past month, IMCC has returned -28.7%.
For IM Cannabis Corp., the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. This represents a change of +84.2% from what the company reported a year ago. IM Cannabis Corp. currently has a Zacks Rank of #4 (Sell).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott ABT shares ended the last trading session 3.1% higher at $109.45. So, make sure to keep an eye on ABT going forward to see if this recent jump can turn into more strength down the road. Abbott Laboratories (ABT): Free Stock Analysis Report | Abbott ABT shares ended the last trading session 3.1% higher at $109.45. So, make sure to keep an eye on ABT going forward to see if this recent jump can turn into more strength down the road. Abbott Laboratories (ABT): Free Stock Analysis Report | Abbott ABT shares ended the last trading session 3.1% higher at $109.45. So, make sure to keep an eye on ABT going forward to see if this recent jump can turn into more strength down the road. Abbott Laboratories (ABT): Free Stock Analysis Report | Abbott Laboratories (ABT): Free Stock Analysis Report Abbott ABT shares ended the last trading session 3.1% higher at $109.45. So, make sure to keep an eye on ABT going forward to see if this recent jump can turn into more strength down the road. |
31562.0 | 2022-06-27 00:00:00 UTC | 5 Dividend Aristocrats Where Analysts See Capital Gains | ABT | https://www.nasdaq.com/articles/5-dividend-aristocrats-where-analysts-see-capital-gains-29 | nan | nan | To become a "Dividend Aristocrat," a dividend paying company must accomplish an incredible feat: consistently increase shareholder dividends every year for at least 20 consecutive years. Companies with this kind of track record tend to attract a lot of investor attention — and furthermore, "tracking" funds that follow the Dividend Aristocrats Index must own them. With all of this demand for shares, dividend growth stocks can sometimes become "fully priced," where there isn't much upside to analyst targets.
But we here at ETF Channel have looked through the underlying holdings of the SPDR S&P Dividend ETF (which tracks the S&P High Yield Dividend Aristocrats Index), and found these five dividend growth stocks that actually still have fairly substantial upside to the average analyst target price 12 months out. Which means, if the analysts are correct, these are five dividend growth stocks that could produce capital gains in addition to their growing dividend payments.
In the first table below, we present the five stocks. The recent share price, average analyst 12-month target price, and percentage upside to reach the analyst target are presented.
STOCK RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
Abbott Laboratories (Symbol: ABT) $109.45 $139.73 27.66%
Ecolab Inc (Symbol: ECL) $159.65 $202.50 26.84%
Cullen/Frost Bankers, Inc. (Symbol: CFR) $118.44 $143.36 21.04%
Illinois Tool Works, Inc. (Symbol: ITW) $187.92 $220.75 17.47%
Expeditors International of Washington, Inc. (Symbol: EXPD) $100.49 $116.71 16.14%
The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. To ballpark that total return potential, we have added the current yield to the analyst target price upside, in order to arrive at the 12-month total return potential:
STOCK DIVIDEND YIELD % UPSIDE TO ANALYST TARGET IMPLIED TOTAL RETURN POTENTIAL
Abbott Laboratories (Symbol: ABT) 1.72% 27.66% 29.38%
Ecolab Inc (Symbol: ECL) 1.28% 26.84% 28.12%
Cullen/Frost Bankers, Inc. (Symbol: CFR) 2.53% 21.04% 23.57%
Illinois Tool Works, Inc. (Symbol: ITW) 2.60% 17.47% 20.07%
Expeditors International of Washington, Inc. (Symbol: EXPD) 1.33% 16.14% 17.47%
Another consideration with dividend growth stocks is just how much the dividend is growing. We looked up the trailing twelve months worth of dividends shareholders of each of the above five companies have collected, and then also looked up the same number for the prior trailing twelve months. This gives us a rough yardstick to see how much the dividend has grown, from one trailing twelve month period to another.
STOCK PRIOR TTM DIVIDEND TTM DIVIDEND % GROWTH
Abbott Laboratories (Symbol: ABT) $1.62 $1.84 13.58%
Ecolab Inc (Symbol: ECL) $1.91 $2.01 5.24%
Cullen/Frost Bankers, Inc. (Symbol: CFR) $2.87 $3 4.53%
Illinois Tool Works, Inc. (Symbol: ITW) $4.49 $4.8 6.90%
Expeditors International of Washington, Inc. (Symbol: EXPD) $1.1 $1.25 13.64%
These five stocks are part of our full Dividend Aristocrats List. The average analyst target price data upon which this article was based, is courtesy of data provided by Zacks Investment Research via Quandl.com.
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Dividend Growth Stocks: 25 Aristocrats »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (Symbol: ABT) $109.45 $139.73 27.66% Ecolab Inc (Symbol: ECL) $159.65 $202.50 26.84% Cullen/Frost Bankers, Inc. (Symbol: CFR) $118.44 $143.36 21.04% Illinois Tool Works, Inc. (Symbol: ITW) $187.92 $220.75 17.47% Expeditors International of Washington, Inc. (Symbol: EXPD) $100.49 $116.71 16.14% The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. Abbott Laboratories (Symbol: ABT) 1.72% 27.66% 29.38% Ecolab Inc (Symbol: ECL) 1.28% 26.84% 28.12% Cullen/Frost Bankers, Inc. (Symbol: CFR) 2.53% 21.04% 23.57% Illinois Tool Works, Inc. (Symbol: ITW) 2.60% 17.47% 20.07% Expeditors International of Washington, Inc. (Symbol: EXPD) 1.33% 16.14% 17.47% Another consideration with dividend growth stocks is just how much the dividend is growing. Abbott Laboratories (Symbol: ABT) $1.62 $1.84 13.58% Ecolab Inc (Symbol: ECL) $1.91 $2.01 5.24% Cullen/Frost Bankers, Inc. (Symbol: CFR) $2.87 $3 4.53% Illinois Tool Works, Inc. (Symbol: ITW) $4.49 $4.8 6.90% Expeditors International of Washington, Inc. (Symbol: EXPD) $1.1 $1.25 13.64% These five stocks are part of our full Dividend Aristocrats List. | Abbott Laboratories (Symbol: ABT) $109.45 $139.73 27.66% Ecolab Inc (Symbol: ECL) $159.65 $202.50 26.84% Cullen/Frost Bankers, Inc. (Symbol: CFR) $118.44 $143.36 21.04% Illinois Tool Works, Inc. (Symbol: ITW) $187.92 $220.75 17.47% Expeditors International of Washington, Inc. (Symbol: EXPD) $100.49 $116.71 16.14% The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. Abbott Laboratories (Symbol: ABT) 1.72% 27.66% 29.38% Ecolab Inc (Symbol: ECL) 1.28% 26.84% 28.12% Cullen/Frost Bankers, Inc. (Symbol: CFR) 2.53% 21.04% 23.57% Illinois Tool Works, Inc. (Symbol: ITW) 2.60% 17.47% 20.07% Expeditors International of Washington, Inc. (Symbol: EXPD) 1.33% 16.14% 17.47% Another consideration with dividend growth stocks is just how much the dividend is growing. Abbott Laboratories (Symbol: ABT) $1.62 $1.84 13.58% Ecolab Inc (Symbol: ECL) $1.91 $2.01 5.24% Cullen/Frost Bankers, Inc. (Symbol: CFR) $2.87 $3 4.53% Illinois Tool Works, Inc. (Symbol: ITW) $4.49 $4.8 6.90% Expeditors International of Washington, Inc. (Symbol: EXPD) $1.1 $1.25 13.64% These five stocks are part of our full Dividend Aristocrats List. | Abbott Laboratories (Symbol: ABT) $109.45 $139.73 27.66% Ecolab Inc (Symbol: ECL) $159.65 $202.50 26.84% Cullen/Frost Bankers, Inc. (Symbol: CFR) $118.44 $143.36 21.04% Illinois Tool Works, Inc. (Symbol: ITW) $187.92 $220.75 17.47% Expeditors International of Washington, Inc. (Symbol: EXPD) $100.49 $116.71 16.14% The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. Abbott Laboratories (Symbol: ABT) 1.72% 27.66% 29.38% Ecolab Inc (Symbol: ECL) 1.28% 26.84% 28.12% Cullen/Frost Bankers, Inc. (Symbol: CFR) 2.53% 21.04% 23.57% Illinois Tool Works, Inc. (Symbol: ITW) 2.60% 17.47% 20.07% Expeditors International of Washington, Inc. (Symbol: EXPD) 1.33% 16.14% 17.47% Another consideration with dividend growth stocks is just how much the dividend is growing. Abbott Laboratories (Symbol: ABT) $1.62 $1.84 13.58% Ecolab Inc (Symbol: ECL) $1.91 $2.01 5.24% Cullen/Frost Bankers, Inc. (Symbol: CFR) $2.87 $3 4.53% Illinois Tool Works, Inc. (Symbol: ITW) $4.49 $4.8 6.90% Expeditors International of Washington, Inc. (Symbol: EXPD) $1.1 $1.25 13.64% These five stocks are part of our full Dividend Aristocrats List. | Abbott Laboratories (Symbol: ABT) $109.45 $139.73 27.66% Ecolab Inc (Symbol: ECL) $159.65 $202.50 26.84% Cullen/Frost Bankers, Inc. (Symbol: CFR) $118.44 $143.36 21.04% Illinois Tool Works, Inc. (Symbol: ITW) $187.92 $220.75 17.47% Expeditors International of Washington, Inc. (Symbol: EXPD) $100.49 $116.71 16.14% The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. Abbott Laboratories (Symbol: ABT) 1.72% 27.66% 29.38% Ecolab Inc (Symbol: ECL) 1.28% 26.84% 28.12% Cullen/Frost Bankers, Inc. (Symbol: CFR) 2.53% 21.04% 23.57% Illinois Tool Works, Inc. (Symbol: ITW) 2.60% 17.47% 20.07% Expeditors International of Washington, Inc. (Symbol: EXPD) 1.33% 16.14% 17.47% Another consideration with dividend growth stocks is just how much the dividend is growing. Abbott Laboratories (Symbol: ABT) $1.62 $1.84 13.58% Ecolab Inc (Symbol: ECL) $1.91 $2.01 5.24% Cullen/Frost Bankers, Inc. (Symbol: CFR) $2.87 $3 4.53% Illinois Tool Works, Inc. (Symbol: ITW) $4.49 $4.8 6.90% Expeditors International of Washington, Inc. (Symbol: EXPD) $1.1 $1.25 13.64% These five stocks are part of our full Dividend Aristocrats List. |
31563.0 | 2022-06-23 00:00:00 UTC | 5 Dividend Kings to Buy Now | ABT | https://www.nasdaq.com/articles/5-dividend-kings-to-buy-now | nan | nan | Various factors like inflation and the potential for a recession have led the S&P 500 index to drop 21.6% from its all-time high set at the start of this year. This precipitous drop erased over $10 trillion of wealth from U.S. financial markets.
For dividend growth investors the market drop hasn't been as severe and they can sleep better at night knowing that their passive income will almost certainly grow, regardless of what happens in the market. This is especially true for those who are invested in dividend growth stocks that have earned the title Dividend King. These are stocks that have boosted their dividends paid to shareholders annually for at least 50 consecutive years.
If you are seeking to grow your passive income and wealth over the long haul, you might want to take a closer look at any of these five Dividend Kings that look like great buys at the moment.
Image source: Getty Images.
1. Abbott Laboratories
With a market capitalization of $179.5 billion, Abbott Laboratories (NYSE: ABT) is one of the largest healthcare companies in the world. The company's leadership in medical devices (i.e. blood glucose monitors), diagnostic tests (like COVID-19 tests), nutritional products (including Ensure and PediaSure), and off-patent pharmaceuticals in international markets should lead to strong growth in the years ahead.
That's because a growing and aging global population should lead to increased demand for Abbott Laboratories' products. This explains why analysts are expecting 12.6% annual earnings growth over the next five years.
With a dividend payout ratio set to be 38.6% in 2022, Abbott Laboratories should have no problem extending its 50-year dividend growth streak in the years to come. Better yet, the stock's 1.8% dividend yield tops the S&P 500's 1.7% yield.
Abbott Laboratories' forward price-to-earnings (P/E) ratio of 21 doesn't make it the cheapest Dividend King out there. But for a stock of its quality with a double-digit annual earnings growth outlook, this an attractive valuation.
2. American States Water
With more than 1 million customers in nine U.S. states, American States Water (NYSE: AWR) is a well-established water utility. The company has bumped up its dividends paid to shareholders for 67 consecutive years, which is the longest streak among its Dividend King peers.
Unsurprisingly, providing water to the U.S. government, homes, and businesses is a very steady business model. This is how American States Water has delivered nearly 10% annual dividend growth for its shareholders over the last 10 years. And with a dividend payout ratio of 54.9%, the stock's admirable dividend growth stretch shouldn't be ending anytime soon.
American States Water's forward P/E ratio of 27.9 is the most expensive valuation of the five Dividend Kings discussed here. But the company's unmatched track record and stability seem to justify this lofty valuation.
3. Genuine Parts
As they age, vehicles and industrial equipment are bound to need replacement parts to continue efficiently running. Serving hundreds of thousands of customers from locations throughout North America, Europe, and Australasia, Genuine Parts (NYSE: GPC) is one of the largest automotive and industrial replacement parts companies on the planet. It's also one of the most stable. The stock has upped its dividends paid to shareholders for 66 years in a row.
The semiconductor chip shortage has pushed the average age of U.S. vehicles to a record of over 12 years. Since this will likely be an issue for the next couple of years, demand from consumers for used car parts should remain solid. This is why analysts are expecting Genuine Parts to post 4.6% annual earnings growth through the next five years.
The stock's projected 44.9% dividend payout ratio should give it flexibility to hand out mid-single-digit annual dividend increases over the long haul. This is a satisfactory level of growth potential for Genuine Parts' 2.8% dividend yield. And given that the stock's forward P/E ratio of 16.4 is in line with the auto parts and equipment industry average of 16, Genuine Parts looks sensibly valued.
4. 3M
3M (NYSE: MMM) is a conglomerate with a hand in almost every aspect of our lives. The company's products include structural adhesives and tapes, reflective signage for highway and construction safety, food safety indicators, filtration and purification systems, and home cleaning products.
3M's diversification and influence over the lives of millions around the world hasn't just figuratively paid dividends -- it has allowed the stock to pay growing dividends to its shareholders for 64 consecutive years. And based on 3M's dividend payout ratio, which will be around 55% in 2022, the stock shouldn't have difficulty prolonging that dividend growth streak in the future.
This is especially true considering that analysts are forecasting 5.7% annual earnings growth over the next five years. Investors can pick up 3M's market-smashing 4.6% dividend yield at a forward P/E ratio of 12. This valuation is well below the industrial sector average of 17.2, and arguably prices in the risks that the stock faces with environmental and product-related lawsuits.
5. Procter & Gamble
The brand power within Procter & Gamble's (NYSE: PG) product portfolio is unmatched. Luvs baby diapers, Downy fabric softeners, Gillette razors, and Cascade dishwasher detergent only begin to scratch the surface in illustrating the household name recognition of its products. This is how the stock has been able to fund and hike its dividend for 66 years straight.
P&G's prominence in the consumption habits of virtually all U.S. households is what gives the company exceptional pricing power. This helps to explain why analysts are predicting 5.3% annual earnings growth for the next five years. With the dividend payout ratio positioned to be approximately 60%, P&G should have the ability to keep growing its dividend in the years ahead.
And investors can scoop up shares of the stock at a forward P/E ratio of 23.3. This is hardly an unreasonable premium to the consumer staple sector average of 20.2, which makes P&G and its 2.7% dividend yield a buy.
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Kody Kester has positions in 3M, Abbott Laboratories, Genuine Parts Company, and Procter & Gamble. The Motley Fool recommends 3M. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories With a market capitalization of $179.5 billion, Abbott Laboratories (NYSE: ABT) is one of the largest healthcare companies in the world. Various factors like inflation and the potential for a recession have led the S&P 500 index to drop 21.6% from its all-time high set at the start of this year. If you are seeking to grow your passive income and wealth over the long haul, you might want to take a closer look at any of these five Dividend Kings that look like great buys at the moment. | Abbott Laboratories With a market capitalization of $179.5 billion, Abbott Laboratories (NYSE: ABT) is one of the largest healthcare companies in the world. American States Water With more than 1 million customers in nine U.S. states, American States Water (NYSE: AWR) is a well-established water utility. This is a satisfactory level of growth potential for Genuine Parts' 2.8% dividend yield. | Abbott Laboratories With a market capitalization of $179.5 billion, Abbott Laboratories (NYSE: ABT) is one of the largest healthcare companies in the world. With a dividend payout ratio set to be 38.6% in 2022, Abbott Laboratories should have no problem extending its 50-year dividend growth streak in the years to come. 3M's diversification and influence over the lives of millions around the world hasn't just figuratively paid dividends -- it has allowed the stock to pay growing dividends to its shareholders for 64 consecutive years. | Abbott Laboratories With a market capitalization of $179.5 billion, Abbott Laboratories (NYSE: ABT) is one of the largest healthcare companies in the world. With a dividend payout ratio set to be 38.6% in 2022, Abbott Laboratories should have no problem extending its 50-year dividend growth streak in the years to come. Abbott Laboratories' forward price-to-earnings (P/E) ratio of 21 doesn't make it the cheapest Dividend King out there. |
31564.0 | 2022-06-23 00:00:00 UTC | FDA probes one more infant death potentially related to Abbott baby formula | ABT | https://www.nasdaq.com/articles/fda-probes-one-more-infant-death-potentially-related-to-abbott-baby-formula | nan | nan | Adds Abbott response, changes dateline
June 23 (Reuters) - The U.S. Food and Drug Administration (FDA) said on Wednesday it was notified of one more infant death in January potentially related to Abbott Laboratories' ABT.N baby formula and the agency has started an investigation.
Abbott initiated a recall of its baby formula products and closed its Michigan plant in February after reports of serious bacterial infections in four infants, worsening a shortage among multiple manufacturers that began with pandemic supply chain issues.
The FDA said it had previously received reports of nine infant deaths, of which two were associated with the Michigan plant investigation. The health agency added that its probe was neither able to establish or rule out a direct link between the deaths and the formula produced at the plant.
Abbott said on Thursday there was currently no evidence to suggest a connection between the death and its baby formula, adding that there was limited clinical and product information provided when the FDA notified the company last week.
The company said it would investigate further if additional data became available.
(Reporting by Amruta Khandekar; Editing by Shounak Dasgupta)
((Amruta.Khandekar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds Abbott response, changes dateline June 23 (Reuters) - The U.S. Food and Drug Administration (FDA) said on Wednesday it was notified of one more infant death in January potentially related to Abbott Laboratories' ABT.N baby formula and the agency has started an investigation. Abbott initiated a recall of its baby formula products and closed its Michigan plant in February after reports of serious bacterial infections in four infants, worsening a shortage among multiple manufacturers that began with pandemic supply chain issues. The health agency added that its probe was neither able to establish or rule out a direct link between the deaths and the formula produced at the plant. | Adds Abbott response, changes dateline June 23 (Reuters) - The U.S. Food and Drug Administration (FDA) said on Wednesday it was notified of one more infant death in January potentially related to Abbott Laboratories' ABT.N baby formula and the agency has started an investigation. Abbott initiated a recall of its baby formula products and closed its Michigan plant in February after reports of serious bacterial infections in four infants, worsening a shortage among multiple manufacturers that began with pandemic supply chain issues. The FDA said it had previously received reports of nine infant deaths, of which two were associated with the Michigan plant investigation. | Adds Abbott response, changes dateline June 23 (Reuters) - The U.S. Food and Drug Administration (FDA) said on Wednesday it was notified of one more infant death in January potentially related to Abbott Laboratories' ABT.N baby formula and the agency has started an investigation. Abbott initiated a recall of its baby formula products and closed its Michigan plant in February after reports of serious bacterial infections in four infants, worsening a shortage among multiple manufacturers that began with pandemic supply chain issues. Abbott said on Thursday there was currently no evidence to suggest a connection between the death and its baby formula, adding that there was limited clinical and product information provided when the FDA notified the company last week. | Adds Abbott response, changes dateline June 23 (Reuters) - The U.S. Food and Drug Administration (FDA) said on Wednesday it was notified of one more infant death in January potentially related to Abbott Laboratories' ABT.N baby formula and the agency has started an investigation. Abbott initiated a recall of its baby formula products and closed its Michigan plant in February after reports of serious bacterial infections in four infants, worsening a shortage among multiple manufacturers that began with pandemic supply chain issues. The FDA said it had previously received reports of nine infant deaths, of which two were associated with the Michigan plant investigation. |
31565.0 | 2022-06-23 00:00:00 UTC | Why Investors Should Focus on Abbott's Medical Devices | ABT | https://www.nasdaq.com/articles/why-investors-should-focus-on-abbotts-medical-devices | nan | nan | Diversified healthcare company Abbott Laboratories (NYSE: ABT) has been front and center in the news this year. Given the headlines surrounding the infant formula debacle and the influx of cash from COVID-19 diagnostics, it's easy to overlook the company's innovation in medical devices. But this segment provides a stable backbone that is integral to future growth.
Abbott Labs's diabetes products
The American Diabetes Association claims that diabetes is the most common chronic disease in the U.S., with 1.4 million Americans newly diagnosed each year. Abbott is a leader in the field, offering one of the most widely used continuous glucose monitors. The sensor tracks blood glucose and warns if the level gets too high or low, providing more convenient and reliable care than finger-prick tests.
In May, the FDA approved the Freestyle Libre 3, which Abbott claims achieves the most accurate measurement among the line-up of 14-day continuous monitoring systems. At about the size of two pennies, the sensor is also the smallest and thinnest. Abbott intends to maintain a similar price point as previous versions, substantially undercutting rival Dexcom's (NASDAQ: DXCM) G7 CGM System. While still expensive, Illinois recently passed legislation that forces insurance to cover these devices, and demand may increase if other states follow suit.
Abbott continues to innovate in this area, having recently partnered with CamDiab and YpsoMed to develop an automated insulin delivery device. This system will integrate Abbott's diagnostic sensor, CamDiab's mobile app, and YpsoMed's insulin pump to automatically deliver the correct amount of insulin to the patient. The companies expect to complete development by the end of this year.
The company is also working on a combined glucose-ketone sensor that will detect rising ketone levels so that the patient can take preventative measures that forestall diabetic ketacidosis. Ketone monitoring is often overlooked because it is a cumbersome and costly extra step. Pivotal trials on the technology are planned for next year.
Abbott Labs's cardiovascular products
Cardiovascular disease is Abbott's second primary focus in the medical device segment. The company supplies equipment for rhythm management, electrophysiology, heart failure, vascular, and structural heart indications. Two recent FDA approvals will expand the addressable market for cardiac devices.
Abbott's CardioMEMS HF System monitors pressure in the pulmonary artery so that doctors can manage a patient's treatment and prevent heart failure from progressing. The device has been available since 2014, but the FDA expanded the indication in February to allow the sensor to be implanted during an earlier stage of the disease. Heart failure is the leading cause for hospitalization within the elderly population, and more than 6.2 million Americans experience the disease.Abbot estimates that the new label increases the addressable market by 1.2 million Americans.
In April, the FDA approved Abbott's Aveir VR leadless pacemaker for patients with slow heart rhythms. The system offers a longer battery life, as well as a mapping capability to simplify implantation and retrieval processes. Although demand for pacemakers slowed during the height of the pandemic, COVID-19 has been linked to heart damage. At least one-in-five hospitalized COVID-19 patients experience heart irregularities, possibly caused by the viral infection of specialized cells within the heart that regulate its rhythm. Electronic pacemakers may be necessary to replace lost function.
What the future holds for Abbott
Abbott reported fantastic first-quarter results, with overall sales increasing 17.5% from the previous year to $11.9 billion. However, COVID-19 diagnostics tests accounted for $3.3 billion, almost one-third of total revenue. Future demand for pandemic products is uncertain, but management expects that much of the sales for the year may have already been realized.
With COVID-19 sales on the decline, the medical device segment becomes the dominant source of revenue. After removing COVID-19 sales, the $3.6 billion in medical device sales accounts for about 40% of total revenue. This compares to $2.0 billion from diagnostics, $1.9 billion from nutritionals, and $1.1 billion from established pharmaceuticals.
Furthermore, the growing prevalence of diabetes and heart disease promises reliable growth. The overall medical device segment grew 7%, on par with the growth from the established pharmaceutical segment but with a 50% higher operating margin. Meanwhile, nutritionals experienced a 7% decline due to the infant recall and production shut-down. The diagnostics division continues to be productive, recently unveiling a multi-pronged test for sexually transmitted diseases and monkeypox, but these will not come close to filling the hole as demand for COVID-19 screening falls.
While its missteps in manufacturing infant formula are certainly troubling, Abbott remains a well-diversified Dividend King with a dominant market position in several high-growth fields. Its price-to-earnings ratio of 24 is its lowest in the past three years, and in line with competitors. Overall revenue is likely to drop in upcoming quarters, and this may carry over into the stock price; keep an eye out for potential bargain opportunities.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Diversified healthcare company Abbott Laboratories (NYSE: ABT) has been front and center in the news this year. Abbott intends to maintain a similar price point as previous versions, substantially undercutting rival Dexcom's (NASDAQ: DXCM) G7 CGM System. Abbott's CardioMEMS HF System monitors pressure in the pulmonary artery so that doctors can manage a patient's treatment and prevent heart failure from progressing. | Diversified healthcare company Abbott Laboratories (NYSE: ABT) has been front and center in the news this year. Abbott Labs's diabetes products The American Diabetes Association claims that diabetes is the most common chronic disease in the U.S., with 1.4 million Americans newly diagnosed each year. This system will integrate Abbott's diagnostic sensor, CamDiab's mobile app, and YpsoMed's insulin pump to automatically deliver the correct amount of insulin to the patient. | Diversified healthcare company Abbott Laboratories (NYSE: ABT) has been front and center in the news this year. Abbott Labs's diabetes products The American Diabetes Association claims that diabetes is the most common chronic disease in the U.S., with 1.4 million Americans newly diagnosed each year. Abbott Labs's cardiovascular products Cardiovascular disease is Abbott's second primary focus in the medical device segment. | Diversified healthcare company Abbott Laboratories (NYSE: ABT) has been front and center in the news this year. Abbott continues to innovate in this area, having recently partnered with CamDiab and YpsoMed to develop an automated insulin delivery device. In April, the FDA approved Abbott's Aveir VR leadless pacemaker for patients with slow heart rhythms. |
31566.0 | 2022-06-23 00:00:00 UTC | Abbott (ABT) Gains But Lags Market: What You Should Know | ABT | https://www.nasdaq.com/articles/abbott-abt-gains-but-lags-market%3A-what-you-should-know-6 | nan | nan | Abbott (ABT) closed at $106.21 in the latest trading session, marking a +0.73% move from the prior day. This change lagged the S&P 500's 0.95% gain on the day. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.23%.
Coming into today, shares of the maker of infant formula, medical devices and drugs had lost 6.85% in the past month. In that same time, the Medical sector lost 3.97%, while the S&P 500 lost 3.49%.
Investors will be hoping for strength from Abbott as it approaches its next earnings release. The company is expected to report EPS of $1.11, down 5.13% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.36 billion, up 1.35% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.62 billion. These results would represent year-over-year changes of -7.29% and -3.38%, respectively.
Investors might also notice recent changes to analyst estimates for Abbott. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.61% higher. Abbott is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Abbott currently has a Forward P/E ratio of 21.84. Its industry sports an average Forward P/E of 20.45, so we one might conclude that Abbott is trading at a premium comparatively.
It is also worth noting that ABT currently has a PEG ratio of 3.82. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 1.37 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Abbott Laboratories (ABT): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott (ABT) closed at $106.21 in the latest trading session, marking a +0.73% move from the prior day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.62 billion. It is also worth noting that ABT currently has a PEG ratio of 3.82. | Abbott (ABT) closed at $106.21 in the latest trading session, marking a +0.73% move from the prior day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.62 billion. It is also worth noting that ABT currently has a PEG ratio of 3.82. | Abbott (ABT) closed at $106.21 in the latest trading session, marking a +0.73% move from the prior day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.62 billion. It is also worth noting that ABT currently has a PEG ratio of 3.82. | Abbott (ABT) closed at $106.21 in the latest trading session, marking a +0.73% move from the prior day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.62 billion. It is also worth noting that ABT currently has a PEG ratio of 3.82. |
31567.0 | 2022-06-23 00:00:00 UTC | FDA Probes Death Of Infant Who Consumed Abbott Infant Formula | ABT | https://www.nasdaq.com/articles/fda-probes-death-of-infant-who-consumed-abbott-infant-formula | nan | nan | (RTTNews) - The U.S. Food and Drug Administration said it is investigating the death of another infant after consuming Abbott Laboratories' baby formula.
In a statement, the agency noted that the child died in January and the consumer complaint was received on June 10. The investigation is in its preliminary stages and the agency will provide an update as it learns more.
The FDA has previously reported its review of complaints related to nine infant deaths. According to the agency, only two were associated with the Abbott Nutrition Sturgis plant investigation. Despite extensive investigation, the evidence does not rule in or rule out a definitive link between these infant deaths and the product produced at Abbott Nutrition's Sturgis plant.
Abbott Nutrition, the largest U.S. infant formula manufacturer, had closed its baby formula plant in Sturgis, Michigan after reporting bacterial infections and related deaths in babies. The resultant major recall of its most popular powder formulas had triggered the severe shortage for infant formula supplies in the United States.
Abbott had called back millions of powder formulas, including Similac, Alimentum, and EleCare, produced at the facility after four infants were diagnosed with Cronobacter sakazakii or Salmonella Newport, a rare bacterial infection, including two deaths reported to the FDA between September 2021 and February.
The plant was closed down, and the investigation report by FDA noted that the facility failed to maintain sanitary conditions and procedures.
The FDA also has investigated some 129 complaints associated with Abbott Nutrition formula products to date. Of these, 119 complaints were reported after Abbott's recall on February 17.
But, following the worst shortage of the baby formula products, Abbott Nutrition reopened its Sturgis plant in early June, as agreed by the FDA, and restarted the production of specialty infant formula, EleCare.
Meanwhile, Abbott had to shut down the plant last week following severe weather and rainfall that resulted in flooding in areas of the Sturgis facility. The FDA said it will return to the facility and work closely with Abbott so as to restart the Sturgis facility as quickly as possible.
Since the recall caused severe shortage, the Biden Administration also has taken various steps to bring as much infant formula from outside U.S. through its Operation Fly Formula Mission.
The FDA also urged infant formula manufacturers worldwide to import products to the U.S., and issued enforcement discretion letters for the importation of the infant formula products from six countries. The FDA flexibilities have resulted in a total estimated quantity of 17 million cans, or about 365 million full-size, 8-ounce bottles of infant formula to date.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - The U.S. Food and Drug Administration said it is investigating the death of another infant after consuming Abbott Laboratories' baby formula. The plant was closed down, and the investigation report by FDA noted that the facility failed to maintain sanitary conditions and procedures. Meanwhile, Abbott had to shut down the plant last week following severe weather and rainfall that resulted in flooding in areas of the Sturgis facility. | Despite extensive investigation, the evidence does not rule in or rule out a definitive link between these infant deaths and the product produced at Abbott Nutrition's Sturgis plant. Abbott Nutrition, the largest U.S. infant formula manufacturer, had closed its baby formula plant in Sturgis, Michigan after reporting bacterial infections and related deaths in babies. But, following the worst shortage of the baby formula products, Abbott Nutrition reopened its Sturgis plant in early June, as agreed by the FDA, and restarted the production of specialty infant formula, EleCare. | Abbott Nutrition, the largest U.S. infant formula manufacturer, had closed its baby formula plant in Sturgis, Michigan after reporting bacterial infections and related deaths in babies. Abbott had called back millions of powder formulas, including Similac, Alimentum, and EleCare, produced at the facility after four infants were diagnosed with Cronobacter sakazakii or Salmonella Newport, a rare bacterial infection, including two deaths reported to the FDA between September 2021 and February. But, following the worst shortage of the baby formula products, Abbott Nutrition reopened its Sturgis plant in early June, as agreed by the FDA, and restarted the production of specialty infant formula, EleCare. | According to the agency, only two were associated with the Abbott Nutrition Sturgis plant investigation. Abbott Nutrition, the largest U.S. infant formula manufacturer, had closed its baby formula plant in Sturgis, Michigan after reporting bacterial infections and related deaths in babies. The FDA also has investigated some 129 complaints associated with Abbott Nutrition formula products to date. |
31568.0 | 2022-06-22 00:00:00 UTC | U.S. FDA gets complaint of one more infant death related to baby formula | ABT | https://www.nasdaq.com/articles/u.s.-fda-gets-complaint-of-one-more-infant-death-related-to-baby-formula | nan | nan | June 22 (Reuters) - The U.S. Food and Drug Administration said on Wednesday it was notified of one more infant death in January potentially related to Abbott Laboratories' ABT.N baby formula and the agency has started a probe.
Abbott initiated a recall of its infant formula products and closed its Michigan plant in February after reports of serious bacterial infections in four infants, worsening a shortage among multiple manufacturers that began with pandemic supply chain issues.
(Reporting by Amruta Khandekar; Editing by Shounak Dasgupta)
((Amruta.Khandekar@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 22 (Reuters) - The U.S. Food and Drug Administration said on Wednesday it was notified of one more infant death in January potentially related to Abbott Laboratories' ABT.N baby formula and the agency has started a probe. Abbott initiated a recall of its infant formula products and closed its Michigan plant in February after reports of serious bacterial infections in four infants, worsening a shortage among multiple manufacturers that began with pandemic supply chain issues. (Reporting by Amruta Khandekar; Editing by Shounak Dasgupta) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 22 (Reuters) - The U.S. Food and Drug Administration said on Wednesday it was notified of one more infant death in January potentially related to Abbott Laboratories' ABT.N baby formula and the agency has started a probe. Abbott initiated a recall of its infant formula products and closed its Michigan plant in February after reports of serious bacterial infections in four infants, worsening a shortage among multiple manufacturers that began with pandemic supply chain issues. (Reporting by Amruta Khandekar; Editing by Shounak Dasgupta) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 22 (Reuters) - The U.S. Food and Drug Administration said on Wednesday it was notified of one more infant death in January potentially related to Abbott Laboratories' ABT.N baby formula and the agency has started a probe. Abbott initiated a recall of its infant formula products and closed its Michigan plant in February after reports of serious bacterial infections in four infants, worsening a shortage among multiple manufacturers that began with pandemic supply chain issues. (Reporting by Amruta Khandekar; Editing by Shounak Dasgupta) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | June 22 (Reuters) - The U.S. Food and Drug Administration said on Wednesday it was notified of one more infant death in January potentially related to Abbott Laboratories' ABT.N baby formula and the agency has started a probe. Abbott initiated a recall of its infant formula products and closed its Michigan plant in February after reports of serious bacterial infections in four infants, worsening a shortage among multiple manufacturers that began with pandemic supply chain issues. (Reporting by Amruta Khandekar; Editing by Shounak Dasgupta) ((Amruta.Khandekar@thomsonreuters.com)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
31569.0 | 2022-06-22 00:00:00 UTC | SPLG, BRK.B, BAC, ABT: ETF Outflow Alert | ABT | https://www.nasdaq.com/articles/splg-brk.b-bac-abt%3A-etf-outflow-alert | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Portfolio S&P 500 ETF (Symbol: SPLG) where we have detected an approximate $302.1 million dollar outflow -- that's a 2.4% decrease week over week (from 288,750,000 to 281,900,000). Among the largest underlying components of SPLG, in trading today Berkshire Hathaway Inc New (Symbol: BRK.B) is off about 0.1%, Bank of America Corp (Symbol: BAC) is up about 0.1%, and Abbott Laboratories (Symbol: ABT) is up by about 0.9%. For a complete list of holdings, visit the SPLG Holdings page » The chart below shows the one year price performance of SPLG, versus its 200 day moving average:
Looking at the chart above, SPLG's low point in its 52 week range is $42.78 per share, with $56.44 as the 52 week high point — that compares with a last trade of $44.30. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of SPLG, in trading today Berkshire Hathaway Inc New (Symbol: BRK.B) is off about 0.1%, Bank of America Corp (Symbol: BAC) is up about 0.1%, and Abbott Laboratories (Symbol: ABT) is up by about 0.9%. For a complete list of holdings, visit the SPLG Holdings page » The chart below shows the one year price performance of SPLG, versus its 200 day moving average: Looking at the chart above, SPLG's low point in its 52 week range is $42.78 per share, with $56.44 as the 52 week high point — that compares with a last trade of $44.30. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of SPLG, in trading today Berkshire Hathaway Inc New (Symbol: BRK.B) is off about 0.1%, Bank of America Corp (Symbol: BAC) is up about 0.1%, and Abbott Laboratories (Symbol: ABT) is up by about 0.9%. For a complete list of holdings, visit the SPLG Holdings page » The chart below shows the one year price performance of SPLG, versus its 200 day moving average: Looking at the chart above, SPLG's low point in its 52 week range is $42.78 per share, with $56.44 as the 52 week high point — that compares with a last trade of $44.30. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of SPLG, in trading today Berkshire Hathaway Inc New (Symbol: BRK.B) is off about 0.1%, Bank of America Corp (Symbol: BAC) is up about 0.1%, and Abbott Laboratories (Symbol: ABT) is up by about 0.9%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Portfolio S&P 500 ETF (Symbol: SPLG) where we have detected an approximate $302.1 million dollar outflow -- that's a 2.4% decrease week over week (from 288,750,000 to 281,900,000). For a complete list of holdings, visit the SPLG Holdings page » The chart below shows the one year price performance of SPLG, versus its 200 day moving average: Looking at the chart above, SPLG's low point in its 52 week range is $42.78 per share, with $56.44 as the 52 week high point — that compares with a last trade of $44.30. | Among the largest underlying components of SPLG, in trading today Berkshire Hathaway Inc New (Symbol: BRK.B) is off about 0.1%, Bank of America Corp (Symbol: BAC) is up about 0.1%, and Abbott Laboratories (Symbol: ABT) is up by about 0.9%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Portfolio S&P 500 ETF (Symbol: SPLG) where we have detected an approximate $302.1 million dollar outflow -- that's a 2.4% decrease week over week (from 288,750,000 to 281,900,000). For a complete list of holdings, visit the SPLG Holdings page » The chart below shows the one year price performance of SPLG, versus its 200 day moving average: Looking at the chart above, SPLG's low point in its 52 week range is $42.78 per share, with $56.44 as the 52 week high point — that compares with a last trade of $44.30. |
31570.0 | 2022-06-21 00:00:00 UTC | Abbott (ABT) Gains But Lags Market: What You Should Know | ABT | https://www.nasdaq.com/articles/abbott-abt-gains-but-lags-market%3A-what-you-should-know-5 | nan | nan | Abbott (ABT) closed the most recent trading day at $104.41, moving +1.83% from the previous trading session. This move lagged the S&P 500's daily gain of 2.45%. Meanwhile, the Dow gained 2.15%, and the Nasdaq, a tech-heavy index, added 0.18%.
Prior to today's trading, shares of the maker of infant formula, medical devices and drugs had lost 10.87% over the past month. This has lagged the Medical sector's loss of 7.42% and the S&P 500's loss of 5.71% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. On that day, Abbott is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 5.13%. Our most recent consensus estimate is calling for quarterly revenue of $10.36 billion, up 1.35% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.83 per share and revenue of $41.62 billion. These totals would mark changes of -7.29% and -3.38%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Abbott. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 1.61% higher within the past month. Abbott is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Abbott is currently trading at a Forward P/E ratio of 21.24. This represents a premium compared to its industry's average Forward P/E of 20.18.
Investors should also note that ABT has a PEG ratio of 3.71 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Products was holding an average PEG ratio of 1.36 at yesterday's closing price.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Abbott Laboratories (ABT): Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott (ABT) closed the most recent trading day at $104.41, moving +1.83% from the previous trading session. Investors should also note that ABT has a PEG ratio of 3.71 right now. Abbott Laboratories (ABT): Free Stock Analysis Report | Abbott (ABT) closed the most recent trading day at $104.41, moving +1.83% from the previous trading session. Investors should also note that ABT has a PEG ratio of 3.71 right now. Abbott Laboratories (ABT): Free Stock Analysis Report | Abbott (ABT) closed the most recent trading day at $104.41, moving +1.83% from the previous trading session. Investors should also note that ABT has a PEG ratio of 3.71 right now. Abbott Laboratories (ABT): Free Stock Analysis Report | Abbott (ABT) closed the most recent trading day at $104.41, moving +1.83% from the previous trading session. Investors should also note that ABT has a PEG ratio of 3.71 right now. Abbott Laboratories (ABT): Free Stock Analysis Report |
31571.0 | 2022-06-20 00:00:00 UTC | Best Health Care Stocks To Buy Now? 3 To Watch | ABT | https://www.nasdaq.com/articles/best-health-care-stocks-to-buy-now-3-to-watch | nan | nan | 3 Health Care Stocks For Your Watchlist This Week
For investors wondering if the stock market is open today, the answer to that is a no. However, as markets attempt to move forward from an overall downbeat week, health care stocks could come into focus. After all, the broader stock market will be coming off its worst week since 2020 following widespread sell-offs. In times such as these, most investors would either be asking one of two questions. That would be if it is a good time to buy stocks, or which long-term stocks to invest in now. Regarding the latter, some would argue that health care stocks remain a possible go-to.
For one thing, there remains plenty of notable news emerging from the health care space now. Take the latest updates from Novavax (NASDAQ: NVAX) on its vaccine for example. Just last week, the company’s Nuvaxovid COVID-19 shot was provisionally registered in Australia. This would be for use in individuals over the age of 17 as a booster dose. Furthermore, as of last Friday, Novavax’s COVID-19 vaccine has emergency use authorization over in Taiwan. This follows approval from the Taiwanese regulator.
Aside from pandemic-related news, industry heavy-hitters such as AbbVie (NYSE: ABBV) continue to draw attention as well. Late last week, its risankizumab-rzaa drug candidate now has U.S. Food and Drug Administration (FDA) approval as a treatment for Crohn’s disease in adults. Simply put, risankizumab-rzaa now has its third indication as a treatment for moderately to severely active Crohn’s disease. Notably, this would make it the first in its class to receive FDA approval. On top of that, it would also mark the second FDA approval for the drug just this year. Evidently, there are plenty of exciting updates to keep up with among health care stocks. With that in mind, could one of these stocks be your next big investment?
Health Care Stocks To Buy [Or Sell] This Week
Moderna Inc. (NASDAQ: MRNA)
Merck & Company Inc. (NYSE: MRK)
Abbott Laboratories (NYSE: ABT)
Moderna
Moderna is a biopharmaceutical company that focuses on RNA therapeutics. Notably, this includes its focus on its messenger RNA (mRNA) vaccines. In essence, this type of vaccines uses a copy of a molecule called the mRNA to produce an immune response. The company, as of 2022, has over 40 treatment and vaccine candidates. Out of which, more than half have entered clinical trials. This would include vaccine candidates for influenza, HIV, and Nipah virus among others.
On June 17, 2022, the company announced that it has received emergency use authorization (EUA) from the FDA for its Covid-19 vaccine in young children ages 6 months through 5 years of age. This comes after receiving EUA for its vaccine for children ages 6 through 11 years. “We are thrilled that the FDA has granted Emergency Use Authorization of Moderna’s COVID-19 vaccine for children and adolescents, particularly for our vulnerable, youngest children,” said Stéphane Bancel, Chief Executive Officer of Moderna. “Children need to live highly social lives to develop and flourish. With this authorization, caregivers for young children ages 6 months through 5 years of age finally have a way to safeguard against COVID risks in classroom and daycare settings.”
Earlier in the month, Moderna also announced new clinical data on its Omicron-containing bivalent Covid-19 booster candidates. Named mRNA-1273.214, it contains a vaccine candidate targeting the Omicron variant of concern. A 50 µg booster dose of mRNA-1273.214 met all pre-specified endpoints including superior neutralizing antibody response against the Omicron variant one month after administration when compared to the original vaccine. All things considered, is MRNA stock worth investing in right now?
Source: TD Ameritrade TOS
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Merck & Co.
Following that, we have Merck, a multinational pharmaceutical company with over 130 years of experience. It is a premier research-intensive company that delivers innovative health solutions. Solutions that advance both prevention and treatment of diseases in people and animals. Recently, a Wall Street Journal report announced that Merck is considering the acquisition of oncology-focused biotech firm Seagen (NASDAQ: SGEN). The report cites people familiar with the matter that both companies have been in discussions about a potential deal.
Last week, Merck announced that the FDA has accepted the review of a new supplemental Biologics License Application (sBLA) seeking approval for its Keytruda treatment. Keytruda is for the adjuvant treatment of patients with stage IB, II, or IIIA non-small cell lung cancer. The sBLA is based on positive data from its Phase 3 KEYNOTE-091 trial. If approved, Keytruda would be the first adjuvant immunotherapy-based option in the U.S. for patients with stage IB to IIIA non-small cell lung cancer following surgical resection regardless of PD-L1 expression.
On June 7, 2022, the company also announced one piece of news together with Ridgeback Biotherapeutics. Diving in, the companies have published additional data from the Phase 3 trial evaluating Lagevrio. Lagevrio is an investigational oral antiviral medicine to treat mild to moderate Covid-19 patients who are at high risk for progressing to severe disease. Based on the post hoc analysis, fewer patients required respiratory interventions after taking the drug. Given this piece of information, should investors be paying attention to MRK stock?
Source: TD Ameritrade TOS
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Abbott Laboratories
Abbott is a global health care company that provides life-saving medical devices and diagnostics. Its portfolio of technologies covers diagnostics, medical devices, nutritional, and branded generic medicines. On June 10, 2022, the company announced a quarterly common dividend of $0.47 per share, marking the 394th consecutive quarterly dividend paid by Abbott since 1924.
Recently, it announced late-breaking data for its MitraClip, the world’s first transcatheter edge-to-edge repair device. It also announced TriClip, another first-of-its-kind minimally invasive tricuspid heart valve repair device. The data reinforce the capabilities of the company’s structural heart solutions for both mitral and tricuspid regurgitation across a broad range of patient groups battling leaky heart valves.
Earlier this month, the company also reported that it is developing a new bio wearable that can continuously monitor glucose and ketone levels in one sensor. The system has secured breakthrough device designation from the FDA, which is designed to expedite the review of innovative technologies that can improve the lives of people with life-threatening or irreversibly debilitating diseases or conditions. The glucose-ketone sensor will be the same size as Abbott’s FreeStyle Libre 3 sensor, the world’s smallest continuous glucose monitoring (CGM) sensor, and will connect to Abbott’s digital ecosystem, including personal and caregiver mobile apps and cloud-based data management software for remote monitoring by healthcare professionals. Given all of this, should you consider buying ABT stock?
Source: TD Ameritrade TOS
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Health Care Stocks To Buy [Or Sell] This Week Moderna Inc. (NASDAQ: MRNA) Merck & Company Inc. (NYSE: MRK) Abbott Laboratories (NYSE: ABT) Moderna Moderna is a biopharmaceutical company that focuses on RNA therapeutics. Given all of this, should you consider buying ABT stock? A 50 µg booster dose of mRNA-1273.214 met all pre-specified endpoints including superior neutralizing antibody response against the Omicron variant one month after administration when compared to the original vaccine. | Health Care Stocks To Buy [Or Sell] This Week Moderna Inc. (NASDAQ: MRNA) Merck & Company Inc. (NYSE: MRK) Abbott Laboratories (NYSE: ABT) Moderna Moderna is a biopharmaceutical company that focuses on RNA therapeutics. Given all of this, should you consider buying ABT stock? On June 17, 2022, the company announced that it has received emergency use authorization (EUA) from the FDA for its Covid-19 vaccine in young children ages 6 months through 5 years of age. | Health Care Stocks To Buy [Or Sell] This Week Moderna Inc. (NASDAQ: MRNA) Merck & Company Inc. (NYSE: MRK) Abbott Laboratories (NYSE: ABT) Moderna Moderna is a biopharmaceutical company that focuses on RNA therapeutics. Given all of this, should you consider buying ABT stock? On June 17, 2022, the company announced that it has received emergency use authorization (EUA) from the FDA for its Covid-19 vaccine in young children ages 6 months through 5 years of age. | Health Care Stocks To Buy [Or Sell] This Week Moderna Inc. (NASDAQ: MRNA) Merck & Company Inc. (NYSE: MRK) Abbott Laboratories (NYSE: ABT) Moderna Moderna is a biopharmaceutical company that focuses on RNA therapeutics. Given all of this, should you consider buying ABT stock? 3 Health Care Stocks For Your Watchlist This Week For investors wondering if the stock market is open today, the answer to that is a no. |
31572.0 | 2022-06-20 00:00:00 UTC | Finally, a Reasonable Price For This Healthcare Blue Chip | ABT | https://www.nasdaq.com/articles/finally-a-reasonable-price-for-this-healthcare-blue-chip | nan | nan | The investor community holds high regard for healthcare conglomerate Abbott Laboratories (NYSE: ABT). Shares rarely come cheap, typically commanding a higher valuation than the S&P 500.
However today Abbott Labs is trading nearly 30% below its high, thanks to recent volatility on Wall Street.
The stock has crushed the market over the past five years, and the current dip may give investors a chance to do it again over the next five. Here is why Abbott Labs is a fantastic buy today.
COVID-19 carrying growth in the near term
Abbott Labs is a healthcare company that designs and sells various products, including consumer products, generic drugs, medical devices, lab equipment, and supplies. The business generated more than $44 billion in revenue over the past four quarters.
Abbott's revenue has grown by an average of 15% annually over the past five years, while earnings-per-share (EPS) has averaged 33%. The company has a significant presence in diabetes, where its non-invasive glucose monitoring product, the FreeStyle Libre, grew sales 20% year over year in the first quarter of 2022 to $1 billion. It also has a substantial medical device segment, selling a range of cardiovascular products like pacemakers and pumps.
The company built a device that can rapidly diagnose COVID-19, which has helped carry growth throughout the pandemic. Its rapid test system made $3.5 billion worldwide in Q1 2022, a 57% increase over the prior year. Abbott's total revenue grew by 13.8% year over year in Q1; COVID-19 rapid test sales could eventually fade, but Abbott's a diverse company that grows in many ways.
A profitable business giving cash to investors
Healthcare has changed so much over time, so Abbott's dividend track record might best speak for its long-term success. The company is a Dividend King with 50 consecutive years of dividend increases.
That means passive income for investors; the stock's dividend yield is currently 1.8%, which likely beats putting money into a savings account. You can see below how steadily Abbott has grown over these decades, except for a massive spin-off in 2013 to form AbbVie from its pharmaceutical segment.
ABT Revenue (TTM) data by YCharts.
Abbott is very profitable, turning about $0.20 of each revenue dollar into free cash flow, which are cash profits that management can use to pay a dividend, repurchase its stock, or save on the balance sheet.
The stock is on sale
Remember I said that the stock rarely comes cheap? Investors should celebrate the occasional sale. Looking at valuation through the price-to-earnings ratio (P/E), Abbott Labs has commanded a median P/E of 31 over the past decade. The S&P 500's historical average P/E is 15, so investors have been willing to pay a hefty premium to own shares.
Management is guiding non-GAAP (adjusted) EPS of $4.70 for 2022, pricing the stock at a P/E ratio of just under 22. Think of it as a sale where you can buy the stock at a 30% discount.
This isn't the case every time; a stock that declines due to bad fundamentals, like slowing growth or a damaged balance sheet, can be a trap that investors occasionally fall into. However, Abbott's continued growth and healthy profitability show that the stock's decline is likely more opportunity than a mirage.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The investor community holds high regard for healthcare conglomerate Abbott Laboratories (NYSE: ABT). ABT Revenue (TTM) data by YCharts. A profitable business giving cash to investors Healthcare has changed so much over time, so Abbott's dividend track record might best speak for its long-term success. | The investor community holds high regard for healthcare conglomerate Abbott Laboratories (NYSE: ABT). ABT Revenue (TTM) data by YCharts. COVID-19 carrying growth in the near term Abbott Labs is a healthcare company that designs and sells various products, including consumer products, generic drugs, medical devices, lab equipment, and supplies. | The investor community holds high regard for healthcare conglomerate Abbott Laboratories (NYSE: ABT). ABT Revenue (TTM) data by YCharts. Abbott's total revenue grew by 13.8% year over year in Q1; COVID-19 rapid test sales could eventually fade, but Abbott's a diverse company that grows in many ways. | The investor community holds high regard for healthcare conglomerate Abbott Laboratories (NYSE: ABT). ABT Revenue (TTM) data by YCharts. COVID-19 carrying growth in the near term Abbott Labs is a healthcare company that designs and sells various products, including consumer products, generic drugs, medical devices, lab equipment, and supplies. |
31573.0 | 2022-06-19 00:00:00 UTC | Validea's Top Five Healthcare Stocks Based On John Neff - 6/19/2022 | ABT | https://www.nasdaq.com/articles/valideas-top-five-healthcare-stocks-based-on-john-neff-6-19-2022 | nan | nan | The following are the top rated Healthcare stocks according to Validea's Low PE Investor model based on the published strategy of John Neff. This strategy looks for firms with persistent earnings growth that trade at a discount relative to their earnings growth and dividend yield.
ABBOTT LABORATORIES (ABT) is a large-cap growth stock in the Medical Equipment & Supplies industry. The rating according to our strategy based on John Neff is 62% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Abbott Laboratories is engaged in the discovery, development, manufacture, and sale of a diversified line of health care products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. Its Established Pharmaceutical Products segment includes gastroenterology products, women's health products, cardiovascular and metabolic products, pain and central nervous system products and respiratory drugs and vaccines. Its Diagnostic Products segment includes core laboratory systems in the areas of immunoassay, clinical chemistry, hematology, and transfusion medicine; molecular diagnostics polymerase chain reaction (PCR) instrument systems; point of care systems; rapid diagnostics lateral flow testing products, and informatics and automation solutions. Its Nutritional Products segment includes various forms of infant formula and follow-on formula, adult and other pediatric nutritional products and others.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E RATIO: FAIL
EPS GROWTH: FAIL
FUTURE EPS GROWTH: PASS
SALES GROWTH: PASS
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: PASS
Detailed Analysis of ABBOTT LABORATORIES
Full Guru Analysis for ABT>
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AMERISOURCEBERGEN CORP. (ABC) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating according to our strategy based on John Neff is 62% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: AmerisourceBergen Corporation is a global pharmaceutical sourcing and distribution services company. The Company operates through two segments: U.S. Healthcare Solutions and International Healthcare Solutions. The U.S. Healthcare Solutions segment distributes an offering of brand-name, specialty brand-name and generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to a wide variety of healthcare providers, including acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers. The International Healthcare Solutions segment consists of businesses that focus on international pharmaceutical wholesale and related service operations and global commercialization services. This segment consists of Alliance Healthcare, World Courier, Innomar, Profarma, and Profarma Specialty.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E RATIO: FAIL
EPS GROWTH: FAIL
FUTURE EPS GROWTH: PASS
SALES GROWTH: PASS
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: PASS
Detailed Analysis of AMERISOURCEBERGEN CORP.
Full Guru Analysis for ABC>
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ENSIGN GROUP INC (ENSG) is a mid-cap growth stock in the Healthcare Facilities industry. The rating according to our strategy based on John Neff is 62% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: The Ensign Group, Inc. is a holding company, which provides skilled nursing, senior living, and rehabilitative services, as well as other ancillary businesses (including mobile diagnostics and medical transportation) through its subsidiaries. The Company operates through two segments: skilled services and real estate. The skilled services segment includes the operation of skilled nursing facilities and rehabilitation therapy services. The real estate segment primarily comprised of properties owned by the Company and leased to skilled nursing and senior living operations, including its own operating subsidiaries and third-party operators, and are subject to triple-net long-term leases. It offers skilled nursing, senior living and rehabilitative care services through approximately 245 skilled nursing and senior living facilities. Its real estate portfolio includes approximately 100 owned real estate properties located in Arizona, California, Colorado, Idaho, and Nebraska, among others.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E RATIO: FAIL
EPS GROWTH: FAIL
FUTURE EPS GROWTH: PASS
SALES GROWTH: PASS
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: PASS
Detailed Analysis of ENSIGN GROUP INC
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HCA HEALTHCARE INC (HCA) is a large-cap value stock in the Healthcare Facilities industry. The rating according to our strategy based on John Neff is 62% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: HCA Healthcare, Inc. is a holding company. The Company, through its subsidiaries, owns and operates hospitals and related healthcare entities. It owns and operates approximately 182 hospitals, comprised of 175 general, acute care hospitals; five psychiatric hospitals; and two rehabilitation hospitals. The Company also operates around 125 freestanding surgery centers and over 21 freestanding endoscopy centers. The Company operates in two geographically organized groups: The National and American Groups. The National Group includes 96 hospitals located in Alaska, California, Florida, Georgia, Idaho, Indiana, northern Kentucky, Nevada, New Hampshire, North Carolina, South Carolina, Utah and Virginia. The American Group includes approximately 79 hospitals located in Colorado, Kansas, southern Kentucky, Louisiana, Missouri, Tennessee and Texas. The Company also operates seven hospitals in England. Its facilities are located in over 20 states and England.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E RATIO: PASS
EPS GROWTH: FAIL
FUTURE EPS GROWTH: FAIL
SALES GROWTH: PASS
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: PASS
Detailed Analysis of HCA HEALTHCARE INC
Full Guru Analysis for HCA>
Full Factor Report for HCA>
NOVO NORDISK A/S (ADR) (NVO) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating according to our strategy based on John Neff is 62% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company's diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs. The Company's biopharmaceuticals segment covers the therapy areas of hemophilia care, growth hormone therapy and hormone replacement therapy. The Company also offers Saxenda product to treat obesity. It offers a range of products, including NovoLog/NovoRapid; NovoLog Mix/NovoMix; Prandin/NovoNorm; NovoSeven; Norditropin, and Vagifem. As of December 31, 2016, it marketed its products in over 180 countries. Its regional structure consists of two commercial units: North America and International Operations.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
P/E RATIO: FAIL
EPS GROWTH: PASS
FUTURE EPS GROWTH: PASS
SALES GROWTH: PASS
TOTAL RETURN/PE: FAIL
FREE CASH FLOW: PASS
EPS PERSISTENCE: PASS
Detailed Analysis of NOVO NORDISK A/S (ADR)
Full Guru Analysis for NVO>
Full Factor Report for NVO>
More details on Validea's John Neff strategy
About John Neff: While known as the manager with whom many top managers entrusted their own money, Neff was far from the smooth-talking, high-profile Wall Streeter you might expect. He was mild-mannered and low-key, and the same might be said of the Windsor Fund that he managed for more than three decades. In fact, Neff himself described the fund as "relatively prosaic, dull, [and] conservative." There was nothing dull about his results, however. From 1964 to 1995, Neff guided Windsor to a 13.7 percent average annual return, easily outpacing the S&P 500's 10.6 percent return during that time. That 3.1 percentage point difference is huge over time -- a $10,000 investment in Windsor (with dividends reinvested) at the start of Neff's tenure would have ended up as more than $564,000 by the time he retired, more than twice what the same investment in the S&P would have yielded (about $233,000). Considering the length of his tenure, that track record may be the best ever for a manager of such a large fund.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ABBOTT LABORATORIES (ABT) is a large-cap growth stock in the Medical Equipment & Supplies industry. Detailed Analysis of ABBOTT LABORATORIES Full Guru Analysis for ABT> Full Factor Report for ABT> AMERISOURCEBERGEN CORP. (ABC) is a large-cap growth stock in the Biotechnology & Drugs industry. The following are the top rated Healthcare stocks according to Validea's Low PE Investor model based on the published strategy of John Neff. | Detailed Analysis of ABBOTT LABORATORIES Full Guru Analysis for ABT> Full Factor Report for ABT> AMERISOURCEBERGEN CORP. (ABC) is a large-cap growth stock in the Biotechnology & Drugs industry. ABBOTT LABORATORIES (ABT) is a large-cap growth stock in the Medical Equipment & Supplies industry. Detailed Analysis of HCA HEALTHCARE INC Full Guru Analysis for HCA> Full Factor Report for HCA> NOVO NORDISK A/S (ADR) (NVO) is a large-cap growth stock in the Biotechnology & Drugs industry. | ABBOTT LABORATORIES (ABT) is a large-cap growth stock in the Medical Equipment & Supplies industry. Detailed Analysis of ABBOTT LABORATORIES Full Guru Analysis for ABT> Full Factor Report for ABT> AMERISOURCEBERGEN CORP. (ABC) is a large-cap growth stock in the Biotechnology & Drugs industry. Its Established Pharmaceutical Products segment includes gastroenterology products, women's health products, cardiovascular and metabolic products, pain and central nervous system products and respiratory drugs and vaccines. | ABBOTT LABORATORIES (ABT) is a large-cap growth stock in the Medical Equipment & Supplies industry. Detailed Analysis of ABBOTT LABORATORIES Full Guru Analysis for ABT> Full Factor Report for ABT> AMERISOURCEBERGEN CORP. (ABC) is a large-cap growth stock in the Biotechnology & Drugs industry. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. |
31574.0 | 2022-06-19 00:00:00 UTC | 2 Top Healthcare Stocks Near 52-Week Lows to Buy | ABT | https://www.nasdaq.com/articles/2-top-healthcare-stocks-near-52-week-lows-to-buy | nan | nan | Are interest rates going higher, or will the latest bump tame inflation? In uncertain times like these, it's a good idea to bolster your portfolio with shares of successful businesses you can expect to deliver steadily rising cash flows long into the future.
These healthcare stocks recently tumbled to new 52-week lows and it wasn't due to poor performance from the businesses themselves. In fact, these industry giants appear to be at the top of their game.
The road ahead could get rockier, especially if dramatic interest rate increases don't tame runaway inflation. With products many of us literally can not live without, though, these healthcare stocks have a better than average chance to produce positive returns for investors if rates rise further, fall, or stay the same.
Abbott Laboratories
Abbott Laboratories (NYSE: ABT) probably received more attention over the past two years than it has at any point in its 134-year history. Rapidly developing, manufacturing, and distributing COVID-19 tests in 2020 drove demand through the roof for Abbott's diagnostics segment. More recently, parents are learning just how little competition there is for the company's specialty baby formulas.
U.S. nutrition sales are responsible for less than 6% of total revenue at the moment, so the manufacturing plant closure that has parents scrambling isn't a disaster for the company as a whole. The nutrition segment's setback didn't stop Abbott from reporting first-quarter revenue that rose 17.5% year over year to $11.9 billion.
Abbott shares have had the rug yanked out from under them along with most stocks that outperformed during the pandemic's early days. Now you can buy the stock for around 20.8 times management's earnings expectations for 2022, which is more than fair for a company growing at this pace. On an adjusted basis, first quarter earnings soared 31% year over year.
Sales of COVID tests reached $3.3 billion during the first three months of 2022 and this isn't the only big growth driver pushing earnings higher. The FDA cleared the company's next-generation continuous glucose monitoring (CGM) system, called Freestyle Libre 3 in May. As one of the largest companies in the CGM space, Abbott is able to market its new device at a price point its competitors have a hard time matching.
Right now, Abbott Laboratories stock offers a 1.8% dividend yield. The company raised its payout by 77% over the past five years and its dividend program is as reliable as they get. Abbott recently made its 394th consecutive quarterly payout and it's raised that payout every year since 1972.
Doximity
Many investors gladly will gladly give up steady reliable growth from mature businesses, and dividend payments, for a chance to realize larger gains. If this sounds like you, consider Doximity (NYSE: DOCS), a one-of-a-kind social media stock.
If you aren't a healthcare professional, Doximity probably isn't like any social medial site you're familiar with. For starters, members can comment on curated news that Doximity adds to their feeds, but they can't post their own content.
The stock has fallen around 39% from its post-IPO price to about 45 times forward earnings expectations. That's a very high multiple but this company is expanding fast enough to grow into its valuation. During Doximity's fiscal year ended March 31, 2022, total revenue rocketed 66% higher.
Nobody's going viral on Doximity but it's still keeping physicians engaged with extremely useful tools, including the Doximity Dialer. This is a way for physicians to use their own smartphones to contact a patient with video or just voice in a setting that complies with complex privacy laws.
This is a high-growth stock but it's already generating positive cash flows it can use to bolster its offerings. For example, the company recently acquired a physician scheduling business called Amion. Now, the Doximilty app lets physicians know who's on call, and reach them directly instead of stopping to call the front desk and have someone paged.
With operations generating a profit in the present, and multiple ways to keep healthcare providers engaged, Doximity has what it needs to stay ahead of any potential competitors for the foreseeable future.
10 stocks we like better than Abbott Laboratories
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) probably received more attention over the past two years than it has at any point in its 134-year history. In uncertain times like these, it's a good idea to bolster your portfolio with shares of successful businesses you can expect to deliver steadily rising cash flows long into the future. With products many of us literally can not live without, though, these healthcare stocks have a better than average chance to produce positive returns for investors if rates rise further, fall, or stay the same. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) probably received more attention over the past two years than it has at any point in its 134-year history. The nutrition segment's setback didn't stop Abbott from reporting first-quarter revenue that rose 17.5% year over year to $11.9 billion. Right now, Abbott Laboratories stock offers a 1.8% dividend yield. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) probably received more attention over the past two years than it has at any point in its 134-year history. 10 stocks we like better than Abbott Laboratories When our award-winning analyst team has a stock tip, it can pay to listen. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Abbott Laboratories wasn't one of them! | Abbott Laboratories Abbott Laboratories (NYSE: ABT) probably received more attention over the past two years than it has at any point in its 134-year history. The nutrition segment's setback didn't stop Abbott from reporting first-quarter revenue that rose 17.5% year over year to $11.9 billion. For example, the company recently acquired a physician scheduling business called Amion. |
31575.0 | 2022-06-18 00:00:00 UTC | 3 Dividend Stocks to Double Up on Right Now | ABT | https://www.nasdaq.com/articles/3-dividend-stocks-to-double-up-on-right-now | nan | nan | With the market tumbling and dividend yields rising, now is a great time to be loading up on great, cash-yielding stocks. If you can find the right businesses to invest in today, you stand to gain a considerable amount on your purchase in the long run, when the current turbulence is just a distant memory.
In this vein, there are three stocks that are particularly attractive at the moment thanks to their evergreen business models, strong financial performance, and perpetually rising dividend payouts. All three of these stocks have outperformed the market in the last 12 months, and they also have a history of hiking their dividends over time, including recently.
And to sweeten the pot even more, one of the trio even distributes special dividends once in a while, so let's take a look at each in detail.
1. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) makes everything from baby formula to coronavirus tests and even medical devices, and it's one of the most reliable companies around when it comes to paying out dividends.
Its forward dividend yield is nearly 1.8%, but more importantly, Abbott has raised its dividend every year without fail for the last 50 years, making it a member of the elite Dividend King club of stocks. Its massive and diverse catalog of products means that its base of revenue is nearly impermeable to sharp drops, and it's also a consistent grower over time.
In the last five years, Abbott's quarterly net income exploded by 764%, and management is always looking for new growth opportunities. What's more, it's making steady progress to reduce its debt load over time, which only solidifies its long-term appeal.
2. AbbVie
As a spinoff of Abbott Labs, AbbVie (NYSE: ABBV) is dedicated to developing and commercializing new prescription medicines. It's also a Dividend King, and its forward yield is currently nearly 4.1%, which is worlds above the market's average yield of around 1.7%.
Part of the reason its yield is so high is that revenue from its best-selling drug Humira is starting to ebb as a result of competition from generics, which might be keeping its share price depressed. But the company has a pair of replacement drugs that it thinks should be able to make up for the revenue it expects to lose, so its future is still bright.
And it isn't as though AbbVie is struggling despite falling income from Humira; its quarterly revenue is up by more than 49% over the last three years, and its quarterly free cash flow (FCF) has gained 195% in the same period. Beyond that, its pipeline of drugs in development is among the largest in the world, and it's not uncommon for the company to have multiple regulatory submissions waiting for action from regulators at once.
Even if one of its candidates fails to make it to commercialization, many more will be in line for their chance at bat, and that's just one more reason it's a company with a lot of staying power in the long term.
3. Costco
In case you aren't familiar, Costco Wholesale (NASDAQ: COST) is a discount warehouse that sells everything from groceries to gasoline, and it's also the world's third-largest retailer.
Its forward dividend yield of close to 0.8% isn't about to make anyone rich, but management consistently increases its payout while also issuing special dividends from time to time. Over the last 10 years, Costco issued four special dividends while also growing its yearly dividend by more than 277%, which is quite a feat.
To accomplish that, Costco simply executed its business model at a larger and larger scale over time. It collects membership fees from people, and then sells them vast quantities of household products at a low price and a narrow margin. Each year, 92.3% of people who buy memberships choose to renew their subscription, which yielded the company trailing 12-month (TTM) revenue of more than $4.1 billion. But even that sum pales in comparison to its total TTM sales of more than $217.5 billion.
With so many consumers flocking to Costco and spending so much, it's hard to see how shareholders will come up short.
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Alex Carchidi has positions in Abbott Laboratories and Costco Wholesale. The Motley Fool has positions in and recommends Costco Wholesale. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) makes everything from baby formula to coronavirus tests and even medical devices, and it's one of the most reliable companies around when it comes to paying out dividends. If you can find the right businesses to invest in today, you stand to gain a considerable amount on your purchase in the long run, when the current turbulence is just a distant memory. In this vein, there are three stocks that are particularly attractive at the moment thanks to their evergreen business models, strong financial performance, and perpetually rising dividend payouts. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) makes everything from baby formula to coronavirus tests and even medical devices, and it's one of the most reliable companies around when it comes to paying out dividends. With the market tumbling and dividend yields rising, now is a great time to be loading up on great, cash-yielding stocks. Its forward dividend yield of close to 0.8% isn't about to make anyone rich, but management consistently increases its payout while also issuing special dividends from time to time. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) makes everything from baby formula to coronavirus tests and even medical devices, and it's one of the most reliable companies around when it comes to paying out dividends. Its forward dividend yield is nearly 1.8%, but more importantly, Abbott has raised its dividend every year without fail for the last 50 years, making it a member of the elite Dividend King club of stocks. Its forward dividend yield of close to 0.8% isn't about to make anyone rich, but management consistently increases its payout while also issuing special dividends from time to time. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) makes everything from baby formula to coronavirus tests and even medical devices, and it's one of the most reliable companies around when it comes to paying out dividends. Its forward dividend yield of close to 0.8% isn't about to make anyone rich, but management consistently increases its payout while also issuing special dividends from time to time. Each year, 92.3% of people who buy memberships choose to renew their subscription, which yielded the company trailing 12-month (TTM) revenue of more than $4.1 billion. |
31576.0 | 2022-06-18 00:00:00 UTC | Stock Market Drop: 3 Cheap Healthcare Stocks to Buy Right Now | ABT | https://www.nasdaq.com/articles/stock-market-drop%3A-3-cheap-healthcare-stocks-to-buy-right-now | nan | nan | With the S&P 500 falling into bear market territory, you might wonder if investing right now is a good idea. It's impossible to predict when the market will hit bottom and then rebound. But one thing is for sure: After tough times, the market has always bounced back. So that means the best thing to do during a market downturn is actually to invest. You'll reap the rewards down the road.
Here, I'll talk about three healthcare stocks that are incredibly cheap right now. They've each posted double-digit declines since the start of the year. Let's take a closer look at why they're smart stocks to buy.
1. Abbott Laboratories
What I like most about Abbott Laboratories (NYSE: ABT) is its diversification. The company has four solid businesses: Medical devices, diagnostics, pharmaceuticals, and nutrition. Traditionally, the medical devices business has contributed most to revenue. At certain stages of the pandemic, though, device sales dipped as hospitals postponed procedures. At the same time, Abbott's vast array of coronavirus tests drove gains in the diagnostics business.
As the pandemic eases, coronavirus testing sales may slip -- but that's OK. Fewer coronavirus cases in hospitals results in hospitals doing business as usual. And that means filling up the calendar with surgeries. In that scenario, we can expect Abbott's medical device sales to strengthen. So, Abbott is able to deliver solid revenue whether the health crisis persists or the situation returns to normal.
A look at Abbott's financial situation shows earnings as well as return on invested capital and free cash flow have generally been on the rise over the past few years.
ABT Net Income (Annual) data by YCharts
And since the beginning of the year, while valuation has fallen, revenue continues to rise. All of this means Abbott shares look cheap considering today's picture and future prospects.
2. Pfizer
Pfizer (NYSE: PFE) not only dominates the coronavirus vaccine market -- it is also the leader in the treatment market. The company sells the Comirnaty vaccine, and the coronavirus treatment pill Paxlovid. Comirnaty brought in more than $36 billion in sales last year. And the company predicts $32 billion in Comirnaty sales and $22 billion in Paxlovid sales for this year.
Of course, once the pandemic is over, these levels may decline. But they still may remain significant. Here's why. Experts say the coronavirus will stick around. And we've seen that the virus has mutated, resulting in new variants. Pfizer aims to update its vaccine/booster as needed to address this. It could become part of many people's fall vaccination ritual, just like a flu vaccine.
Pfizer is trading at only seven times forward earnings estimates -- down from more than 12 at the start of the year. Some might say that drop makes sense, considering coronavirus program revenue may slip.
Importantly, though, Pfizer doesn't depend on the coronavirus vaccine. The company has eight other blockbuster products. Some of these are set to face generic competition by the end of the decade. But Pfizer has a good chance of compensating for that over the long term.
That's because it has 29 candidates in late-stage clinical development. At least some of them could represent revenue in the not-too-distant future. And that means Pfizer's price today looks like a deal.
3. Teladoc Health
Teladoc Health's (NYSE: TDOC) business soared during the early stages of the pandemic. People opted for virtual medical visits rather than visits to doctors' offices. But this wasn't just a short-term trend. Revenue and medical visits already were climbing at Teladoc prior to the pandemic. Those metrics continue to climb now in the double digits -- when people are no longer isolating.
Teladoc offers a broad range of services that address the "whole person" -- from physical to mental health. It's gaining in membership numbers and spend per member. These are both key in the company's ability to grow revenue. Teladoc predicts about 20% revenue growth for this year.
Why have Teladoc shares dropped? Some investors worry because the company isn't yet profitable. But the lack of profitability isn't surprising at this point in Teladoc's story. Shares fell further when the company posted an enormous non-cash goodwill impairment charge in the first quarter. That was linked to its purchase of Livongo.
Yes, Teladoc paid too much for Livongo. But Livongo's chronic care portfolio could represent an important part of the picture over the long term. That's because chronic care represents a major growth area -- and Teladoc hasn't yet finished integrating Livongo products.
Today, Teladoc trades for only two times forward sales estimates. That's down from more than six at the start of the year. This looks cheap considering that Teladoc is still in the early stages of its growth story.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ABT Net Income (Annual) data by YCharts And since the beginning of the year, while valuation has fallen, revenue continues to rise. Abbott Laboratories What I like most about Abbott Laboratories (NYSE: ABT) is its diversification. A look at Abbott's financial situation shows earnings as well as return on invested capital and free cash flow have generally been on the rise over the past few years. | Abbott Laboratories What I like most about Abbott Laboratories (NYSE: ABT) is its diversification. ABT Net Income (Annual) data by YCharts And since the beginning of the year, while valuation has fallen, revenue continues to rise. And the company predicts $32 billion in Comirnaty sales and $22 billion in Paxlovid sales for this year. | Abbott Laboratories What I like most about Abbott Laboratories (NYSE: ABT) is its diversification. ABT Net Income (Annual) data by YCharts And since the beginning of the year, while valuation has fallen, revenue continues to rise. Pfizer Pfizer (NYSE: PFE) not only dominates the coronavirus vaccine market -- it is also the leader in the treatment market. | Abbott Laboratories What I like most about Abbott Laboratories (NYSE: ABT) is its diversification. ABT Net Income (Annual) data by YCharts And since the beginning of the year, while valuation has fallen, revenue continues to rise. Pfizer Pfizer (NYSE: PFE) not only dominates the coronavirus vaccine market -- it is also the leader in the treatment market. |
31577.0 | 2022-06-16 00:00:00 UTC | Interesting ABT Put And Call Options For February 2023 | ABT | https://www.nasdaq.com/articles/interesting-abt-put-and-call-options-for-february-2023 | nan | nan | Investors in Abbott Laboratories (Symbol: ABT) saw new options become available today, for the February 2023 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 246 days until expiration the newly available contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABT options chain for the new February 2023 contracts and identified one put and one call contract of particular interest.
The put contract at the $100.00 strike price has a current bid of $8.40. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $100.00, but will also collect the premium, putting the cost basis of the shares at $91.60 (before broker commissions). To an investor already interested in purchasing shares of ABT, that could represent an attractive alternative to paying $101.83/share today.
Because the $100.00 strike represents an approximate 2% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 8.40% return on the cash commitment, or 12.46% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Abbott Laboratories, and highlighting in green where the $100.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $105.00 strike price has a current bid of $8.35. If an investor was to purchase shares of ABT stock at the current price level of $101.83/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $105.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 11.31% if the stock gets called away at the February 2023 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if ABT shares really soar, which is why looking at the trailing twelve month trading history for Abbott Laboratories, as well as studying the business fundamentals becomes important. Below is a chart showing ABT's trailing twelve month trading history, with the $105.00 strike highlighted in red:
Considering the fact that the $105.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 8.20% boost of extra return to the investor, or 12.16% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 253 trading day closing values as well as today's price of $101.83) to be 23%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of Stocks Analysts Like »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if ABT shares really soar, which is why looking at the trailing twelve month trading history for Abbott Laboratories, as well as studying the business fundamentals becomes important. Below is a chart showing ABT's trailing twelve month trading history, with the $105.00 strike highlighted in red: Considering the fact that the $105.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Abbott Laboratories (Symbol: ABT) saw new options become available today, for the February 2023 expiration. | Below is a chart showing ABT's trailing twelve month trading history, with the $105.00 strike highlighted in red: Considering the fact that the $105.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in Abbott Laboratories (Symbol: ABT) saw new options become available today, for the February 2023 expiration. | Below is a chart showing ABT's trailing twelve month trading history, with the $105.00 strike highlighted in red: Considering the fact that the $105.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Abbott Laboratories (Symbol: ABT) saw new options become available today, for the February 2023 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABT options chain for the new February 2023 contracts and identified one put and one call contract of particular interest. | At Stock Options Channel, our YieldBoost formula has looked up and down the ABT options chain for the new February 2023 contracts and identified one put and one call contract of particular interest. Below is a chart showing ABT's trailing twelve month trading history, with the $105.00 strike highlighted in red: Considering the fact that the $105.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Abbott Laboratories (Symbol: ABT) saw new options become available today, for the February 2023 expiration. |
31578.0 | 2022-06-15 00:00:00 UTC | FOCUS-Baby formula makers raced for FDA approval. They may be waiting a while | ABT | https://www.nasdaq.com/articles/focus-baby-formula-makers-raced-for-fda-approval.-they-may-be-waiting-a-while-0 | nan | nan | By Jessica DiNapoli
NEW YORK, June 15 (Reuters) - To ease the U.S. shortage of baby formula, Nature's One and Holle are poised to ship hundreds of thousands of pounds, if not millions of pounds, of additional formula into stores, company executives told Reuters.
They may be waiting a while.
Despite the Biden administration's pledge to end formula shortages, slow responses and requests for more information from the U.S. Food and Drug Administration (FDA) have led to weeks-long delays for baby formula makers seeking U.S. approval, the two companies told Reuters.
The FDA said in a statement that it is working "as quickly as possible" to address the current supply challenges. It said it is reviewing a number of applications under a program that relaxes the standards for formulas not already approved here.
The agency said it is working carefully to ensure the safety of the products and is also prioritizing the largest formula providers.
The FDA has approved formula from Bubs Australia Ltd BUB.AX, UK-based Kendamil, Nestle SA NESN.S and Danone SA DANO.PA under the new program, but Holle and Nature’s One are among many still waiting, Reuters reporting has found.
In May, both Holle, a Swiss brand sold throughout Europe, and Ohio-based Nature's One sought FDA approval after the agency said it would allow formula sold in other countries into the United States under the temporary program.
"This should be easy," said Jay Highman, CEO of Nature's One, which is sold in China. "We're ready to go to feed babies." Highman has also been seeking permanent FDA approval since 2020.
Highman said that last he heard from the FDA the regulator told him it was reviewing his applications.
The FDA requested funding for four more infant formula staff in June 2021, and received approval this March, according to an FDA timeline of its response to the shortage. The regulator has permitted 15 different products totalling more than 6 million cans in less than a month, it said.
The FDA must use extreme caution with formula standards as impurities or substandard nutrition could cause permanent disability or death in babies.
Tim Morck, a consultant who helps companies including baby formula makers navigate FDA regulations, described the regulator's infant formula team as "way understaffed." FDA Commissioner Robert Califf said in a hearing in late May there are nine people reviewing applications, which totaled 26 at that time.
Health and Happiness International Holdings Ltd 1112.HK, China's fourth-biggest infant formula supplier, and three Antipodean formula companies have applied, Reuters has reported.
Israeli company MyOr has also applied to sell its AlphaCare formula, made in Mexico, in the United States, said co-founder Michael Brandwein in an interview.
SCARCE SUPPLY
A shortage of formula due to pandemic supply chain issues escalated into a crisis after Abbott Laboratories ABT.N, the maker of Similac and specialty hypoallergenic formulas, shut its Michigan plant in February after reports of bacterial infection in children who consumed its products. The plant opened again June 4 but Abbott said it needs six to eight weeks to restock its products.
About 78% of formula across the United States was in stock in early June, roughly the same as the end of May, according to data from IRI, an independent research firm.
Thorben Nilewski, the managing director of Organic-Family GmbH, a subsidiary of Holle, said in an email that the FDA earlier this month asked for clarification related to statements on the formula's label about "biodynamic milk" and the Demeter standard, which both describe European organic food criteria.
Nilewski said he has an exclusive agreement with a distributor that will deliver Holle to Amazon.com Inc's AMZN.O Whole Foods Market and natural grocers.
Nature's One, which already manufacturers a toddler formula for the U.S. market, plans to distribute its infant formula to Walmart Inc WMT.N, Target Corp TGT.N, Meijer, Publix and others, the company said in an email. Nature's One plans to submit a new application to the FDA this week for a specialty formula for lactose-sensitive babies, Highman said.
Highman said he completed a study on infant growth that showed babies eating Nature's One exclusively grew the same amount as infants consuming competing formulas or breastfeeding, as required for permanent approval.
The FDA asked for an extra 60 days to evaluate Highman's formula in January 2021, citing a "high number" of new submissions, according to a copy of a letter reviewed by Reuters.
The FDA then in July 2021 asked Nature's One questions on its growth study, Highman said. He resubmitted this April, just as the formula shortage was escalating into a crisis.
At that time, the FDA told him that it would need as much as six months to respond due to the "continued high number" of infant formula submissions, "many of which are extremely complex," according to a copy of the letter viewed by Reuters.
Australia in talks with U.S. to supply infant formula
H&H working with FDA to up U.S. baby formula supplies
(Reporting by Jessica DiNapoli in New York; Editing by Caroline Humer, Vanessa O'Connell and Lisa Shumaker)
((Jessica.DiNapoli@thomsonreuters.com; 646-223-4678;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A shortage of formula due to pandemic supply chain issues escalated into a crisis after Abbott Laboratories ABT.N, the maker of Similac and specialty hypoallergenic formulas, shut its Michigan plant in February after reports of bacterial infection in children who consumed its products. Thorben Nilewski, the managing director of Organic-Family GmbH, a subsidiary of Holle, said in an email that the FDA earlier this month asked for clarification related to statements on the formula's label about "biodynamic milk" and the Demeter standard, which both describe European organic food criteria. The FDA asked for an extra 60 days to evaluate Highman's formula in January 2021, citing a "high number" of new submissions, according to a copy of a letter reviewed by Reuters. | A shortage of formula due to pandemic supply chain issues escalated into a crisis after Abbott Laboratories ABT.N, the maker of Similac and specialty hypoallergenic formulas, shut its Michigan plant in February after reports of bacterial infection in children who consumed its products. Despite the Biden administration's pledge to end formula shortages, slow responses and requests for more information from the U.S. Food and Drug Administration (FDA) have led to weeks-long delays for baby formula makers seeking U.S. approval, the two companies told Reuters. Tim Morck, a consultant who helps companies including baby formula makers navigate FDA regulations, described the regulator's infant formula team as "way understaffed." | A shortage of formula due to pandemic supply chain issues escalated into a crisis after Abbott Laboratories ABT.N, the maker of Similac and specialty hypoallergenic formulas, shut its Michigan plant in February after reports of bacterial infection in children who consumed its products. By Jessica DiNapoli NEW YORK, June 15 (Reuters) - To ease the U.S. shortage of baby formula, Nature's One and Holle are poised to ship hundreds of thousands of pounds, if not millions of pounds, of additional formula into stores, company executives told Reuters. Despite the Biden administration's pledge to end formula shortages, slow responses and requests for more information from the U.S. Food and Drug Administration (FDA) have led to weeks-long delays for baby formula makers seeking U.S. approval, the two companies told Reuters. | A shortage of formula due to pandemic supply chain issues escalated into a crisis after Abbott Laboratories ABT.N, the maker of Similac and specialty hypoallergenic formulas, shut its Michigan plant in February after reports of bacterial infection in children who consumed its products. It said it is reviewing a number of applications under a program that relaxes the standards for formulas not already approved here. Highman has also been seeking permanent FDA approval since 2020. |
31579.0 | 2022-06-15 00:00:00 UTC | Abbott pauses baby formula production in Michigan after heavy rains | ABT | https://www.nasdaq.com/articles/abbott-pauses-baby-formula-production-in-michigan-after-heavy-rains | nan | nan | Changes dateline, adds FDA Commissioner's tweet
June 16 (Reuters) - Abbott Laboratories ABT.N said late Wednesday it has stopped production of its EleCare specialty formula after severe storms and heavy rains in southwestern Michigan flooded areas of its plant in Sturgis.
The company, which has notified the U.S. Food and Drug Administration (FDA), said the incident will likely delay production and distribution of the infant formula for a few weeks.
The temporary closure of the plant comes a week after Abbott reopened its Sturgis plant to alleviate an acute nationwide shortage of baby formula that sent parents scrambling for supplies.
The plant shutdown and Abbott's recall of infant formula products in February deepened the supply shortage in the United States, with global companies like Neocate maker Danone SA DANO.PA bringing baby formula products into the U.S.
The company began a recall after reports of bacterial infections in children who had consumed the formula made at the plant.
But Abbott, the biggest U.S. supplier of powder infant formula, including Similac, said it has enough existing supply of the baby formula until new products are available.
"Abbott has ample existing supply of EleCare and most of its specialty and metabolic formulas to meet needs for these products until new product is available," it said in a statement.
In a series of tweets on Wednesday night, FDA Commissioner Robert Califf said Abbott and other producers continue to make formula at "higher-than-average rates".
"This means that the total amount of formula available, even before the Sturgis plant is back in production, exceeds the demand for formula prior to the recall," Califf tweeted.
Abbott said it will resume production of EleCare once the plant is re-sanitized and added that it will work to restart production of Similac "as soon as possible".
FDA's Califf said once Abbott establishes a plan, the agency will be back in the facility to ensure the company can restart quickly.
(Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Shailesh Kuber)
((Abinaya.V@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Changes dateline, adds FDA Commissioner's tweet June 16 (Reuters) - Abbott Laboratories ABT.N said late Wednesday it has stopped production of its EleCare specialty formula after severe storms and heavy rains in southwestern Michigan flooded areas of its plant in Sturgis. The company, which has notified the U.S. Food and Drug Administration (FDA), said the incident will likely delay production and distribution of the infant formula for a few weeks. In a series of tweets on Wednesday night, FDA Commissioner Robert Califf said Abbott and other producers continue to make formula at "higher-than-average rates". | Changes dateline, adds FDA Commissioner's tweet June 16 (Reuters) - Abbott Laboratories ABT.N said late Wednesday it has stopped production of its EleCare specialty formula after severe storms and heavy rains in southwestern Michigan flooded areas of its plant in Sturgis. The plant shutdown and Abbott's recall of infant formula products in February deepened the supply shortage in the United States, with global companies like Neocate maker Danone SA DANO.PA bringing baby formula products into the U.S. In a series of tweets on Wednesday night, FDA Commissioner Robert Califf said Abbott and other producers continue to make formula at "higher-than-average rates". | Changes dateline, adds FDA Commissioner's tweet June 16 (Reuters) - Abbott Laboratories ABT.N said late Wednesday it has stopped production of its EleCare specialty formula after severe storms and heavy rains in southwestern Michigan flooded areas of its plant in Sturgis. The plant shutdown and Abbott's recall of infant formula products in February deepened the supply shortage in the United States, with global companies like Neocate maker Danone SA DANO.PA bringing baby formula products into the U.S. But Abbott, the biggest U.S. supplier of powder infant formula, including Similac, said it has enough existing supply of the baby formula until new products are available. | Changes dateline, adds FDA Commissioner's tweet June 16 (Reuters) - Abbott Laboratories ABT.N said late Wednesday it has stopped production of its EleCare specialty formula after severe storms and heavy rains in southwestern Michigan flooded areas of its plant in Sturgis. But Abbott, the biggest U.S. supplier of powder infant formula, including Similac, said it has enough existing supply of the baby formula until new products are available. "Abbott has ample existing supply of EleCare and most of its specialty and metabolic formulas to meet needs for these products until new product is available," it said in a statement. |
31580.0 | 2022-06-15 00:00:00 UTC | Bubs Australia shares surge on infant formula supply deal with Walmart | ABT | https://www.nasdaq.com/articles/bubs-australia-shares-surge-on-infant-formula-supply-deal-with-walmart | nan | nan | June 16 (Reuters) - Shares of Bubs Australia BUB.AX jumped on Thursday after the company signed a deal to supply its infant formula products to U.S. retail giant Walmart amid a baby food shortage in the world's largest economy.
Walmart plans to buy a shipment of six Bubs Infant Formula and two Aussie Bubs Toddler Formula products, which would be delivered to about 800 Walmart stores across the United States, Bubs Australia said, adding that the new supply built on its existing online product sales on Walmart.com channel.
Shares of Bubs Australia rose as much as 10.6% to A$0.625 in morning trade, valuing the company at about A$383 million ($268.94 million).
"The addition of Walmart will increase our bricks and mortar exposure in the United States over the coming days and weeks to around 4,800 stores across 35 states," Chief Executive Officer Kristy Carr said.
The 4,800-store footprint includes the first Bubs Australia consignment bought by retailers Kroger KR.N and Albertsons ACI.N.
Bubs Australia recently signed a deal with the U.S. government to supply more than a million tins of infant formula to help the country address the baby food supply crisis.
The crisis was triggered when Abbott Laboratories ABT.N recalled dozens of its brands in February after consumers complained of infants contracting bacterial infections.
($1 = 1.4241 Australian dollars)
(Reporting by Riya Sharma in Bengaluru; Editing by Subhranshu Sahu)
((Riya.Sharma@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The crisis was triggered when Abbott Laboratories ABT.N recalled dozens of its brands in February after consumers complained of infants contracting bacterial infections. June 16 (Reuters) - Shares of Bubs Australia BUB.AX jumped on Thursday after the company signed a deal to supply its infant formula products to U.S. retail giant Walmart amid a baby food shortage in the world's largest economy. The 4,800-store footprint includes the first Bubs Australia consignment bought by retailers Kroger KR.N and Albertsons ACI.N. | The crisis was triggered when Abbott Laboratories ABT.N recalled dozens of its brands in February after consumers complained of infants contracting bacterial infections. June 16 (Reuters) - Shares of Bubs Australia BUB.AX jumped on Thursday after the company signed a deal to supply its infant formula products to U.S. retail giant Walmart amid a baby food shortage in the world's largest economy. Walmart plans to buy a shipment of six Bubs Infant Formula and two Aussie Bubs Toddler Formula products, which would be delivered to about 800 Walmart stores across the United States, Bubs Australia said, adding that the new supply built on its existing online product sales on Walmart.com channel. | The crisis was triggered when Abbott Laboratories ABT.N recalled dozens of its brands in February after consumers complained of infants contracting bacterial infections. June 16 (Reuters) - Shares of Bubs Australia BUB.AX jumped on Thursday after the company signed a deal to supply its infant formula products to U.S. retail giant Walmart amid a baby food shortage in the world's largest economy. Walmart plans to buy a shipment of six Bubs Infant Formula and two Aussie Bubs Toddler Formula products, which would be delivered to about 800 Walmart stores across the United States, Bubs Australia said, adding that the new supply built on its existing online product sales on Walmart.com channel. | The crisis was triggered when Abbott Laboratories ABT.N recalled dozens of its brands in February after consumers complained of infants contracting bacterial infections. June 16 (Reuters) - Shares of Bubs Australia BUB.AX jumped on Thursday after the company signed a deal to supply its infant formula products to U.S. retail giant Walmart amid a baby food shortage in the world's largest economy. Walmart plans to buy a shipment of six Bubs Infant Formula and two Aussie Bubs Toddler Formula products, which would be delivered to about 800 Walmart stores across the United States, Bubs Australia said, adding that the new supply built on its existing online product sales on Walmart.com channel. |
31581.0 | 2022-06-15 00:00:00 UTC | FOCUS-Baby formula makers raced for FDA approval. They may be waiting a while | ABT | https://www.nasdaq.com/articles/focus-baby-formula-makers-raced-for-fda-approval.-they-may-be-waiting-a-while | nan | nan | By Jessica DiNapoli
NEW YORK, June 15 (Reuters) - To ease the U.S. shortage of baby formula, Nature's One and Holle are poised to ship hundreds of thousands of pounds, if not millions of pounds, of additional formula into stores, company executives told Reuters.
They may be waiting a while.
Despite the Biden administration's pledge to end formula shortages, slow responses and requests for more information from the U.S. Food and Drug Administration (FDA) have led to weeks-long delays for baby formula makers seeking U.S. approval, the two companies told Reuters.
In May, both Holle, a Swiss brand sold throughout Europe, and Ohio-based Nature's One sought FDA approval after the agency said it would allow formula sold in other countries into the United States under a temporary program with relaxed standards. The U.S. government has also flown in formula from overseas plants.
"This should be easy," said Jay Highman, CEO of Nature's One, which is sold in China. "We're ready to go to feed babies." Highman has also been seeking permanent FDA approval since 2020.
Highman said that last he heard from the FDA the regulator told him it was "reviewing" his applications.
An FDA spokesperson said in a statement that it "continues to work to address current supply challenges by reviewing a number of requests for enforcement discretion as quickly as possible, including many that would involve the import of infant formula from outside of the U.S."
The FDA requested funding for four more infant formula staff in June 2021, and received approval this March, according to an FDA timeline of its response to the shortage. The regulator has permitted 15 different products totalling more than 6 million cans in less than a month, it said.
The FDA has to use extreme caution with formula standards as impurities or substandard nutrition could cause permanent disability or death in babies.
The FDA has approved formula from Bubs Australia Ltd BUB.AX, UK-based Kendamil, Nestle SA NESN.S and Danone SA DANO.PA under the program, but Holle and Nature’s One are among many still waiting, Reuters reporting has found.
Tim Morck, a consultant who helps companies including baby formula makers navigate FDA regulations, described the regulator's infant formula team as "way understaffed." FDA Commissioner Robert Califf said in a hearing in late May there are nine people reviewing applications, which totaled 26 at that time.
Health and Happiness International Holdings Ltd 1112.HK, China's fourth-biggest infant formula supplier, and three Antipodean formula companies have applied, Reuters has reported.
Israeli company MyOr has also applied to sell its AlphaCare formula, made in Mexico, in the United States, said co-founder Michael Brandwein in an interview.
SCARCE SUPPLY
A shortage of formula due to pandemic supply chain issues escalated into a crisis after Abbott Laboratories ABT.N, the maker of Similac and specialty hypoallergenic formulas, shut its Michigan plant in February after reports of bacterial infection in children who consumed its products. The plant opened again June 4 but Abbott said it needs six to eight weeks to restock its products.
About 78% of formula across the United States was in stock in early June, roughly the same as the end of May, according to data from IRI, an independent research firm.
Thorben Nilewski, the managing director of Organic-Family GmbH, a subsidiary of Holle, said in an email that the FDA earlier this month asked for clarification related to statements on the formula's label about "biodynamic milk" and the Demeter standard, which both describe European organic food criteria.
Nilewski said he has an exclusive agreement with a distributor that will deliver Holle to Amazon.com Inc's AMZN.O Whole Foods Market and natural grocers.
Nature's One, which already manufacturers a toddler formula for the U.S. market, plans to distribute its infant formula to Walmart Inc WMT.N, Target Corp TGT.N, Meijer, Publix and others, the company said in an email. Nature's One plans to submit a new application to the FDA this week for a specialty formula for lactose-sensitive babies, Highman said.
Highman said he completed a study on infant growth that showed babies eating Nature's One exclusively grew the same amount as infants consuming competing formulas or breastfeeding, as required for permanent approval.
The FDA asked for an extra 60 days to evaluate Highman's formula in January 2021, citing a "high number" of new submissions, according to a copy of a letter reviewed by Reuters.
The FDA then in July 2021 asked Nature's One questions on its growth study, Highman said. He resubmitted this April, just as the formula shortage was escalating into a crisis.
At that time, the FDA told him that it would need as much as six months to respond due to the "continued high number" of infant formula submissions, "many of which are extremely complex," according to a copy of the letter viewed by Reuters.
Australia in talks with U.S. to supply infant formula
H&H working with FDA to up U.S. baby formula supplies
(Reporting by Jessica DiNapoli in New York; Editing by Caroline Humer, Vanessa O'Connell and Lisa Shumaker)
((Jessica.DiNapoli@thomsonreuters.com; 646-223-4678;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A shortage of formula due to pandemic supply chain issues escalated into a crisis after Abbott Laboratories ABT.N, the maker of Similac and specialty hypoallergenic formulas, shut its Michigan plant in February after reports of bacterial infection in children who consumed its products. Thorben Nilewski, the managing director of Organic-Family GmbH, a subsidiary of Holle, said in an email that the FDA earlier this month asked for clarification related to statements on the formula's label about "biodynamic milk" and the Demeter standard, which both describe European organic food criteria. The FDA asked for an extra 60 days to evaluate Highman's formula in January 2021, citing a "high number" of new submissions, according to a copy of a letter reviewed by Reuters. | A shortage of formula due to pandemic supply chain issues escalated into a crisis after Abbott Laboratories ABT.N, the maker of Similac and specialty hypoallergenic formulas, shut its Michigan plant in February after reports of bacterial infection in children who consumed its products. Despite the Biden administration's pledge to end formula shortages, slow responses and requests for more information from the U.S. Food and Drug Administration (FDA) have led to weeks-long delays for baby formula makers seeking U.S. approval, the two companies told Reuters. Tim Morck, a consultant who helps companies including baby formula makers navigate FDA regulations, described the regulator's infant formula team as "way understaffed." | A shortage of formula due to pandemic supply chain issues escalated into a crisis after Abbott Laboratories ABT.N, the maker of Similac and specialty hypoallergenic formulas, shut its Michigan plant in February after reports of bacterial infection in children who consumed its products. By Jessica DiNapoli NEW YORK, June 15 (Reuters) - To ease the U.S. shortage of baby formula, Nature's One and Holle are poised to ship hundreds of thousands of pounds, if not millions of pounds, of additional formula into stores, company executives told Reuters. Despite the Biden administration's pledge to end formula shortages, slow responses and requests for more information from the U.S. Food and Drug Administration (FDA) have led to weeks-long delays for baby formula makers seeking U.S. approval, the two companies told Reuters. | A shortage of formula due to pandemic supply chain issues escalated into a crisis after Abbott Laboratories ABT.N, the maker of Similac and specialty hypoallergenic formulas, shut its Michigan plant in February after reports of bacterial infection in children who consumed its products. Highman has also been seeking permanent FDA approval since 2020. Highman said that last he heard from the FDA the regulator told him it was "reviewing" his applications. |
31582.0 | 2022-06-15 00:00:00 UTC | Abbott (ABT) Outpaces Stock Market Gains: What You Should Know | ABT | https://www.nasdaq.com/articles/abbott-abt-outpaces-stock-market-gains%3A-what-you-should-know-1 | nan | nan | Abbott (ABT) closed at $104.80 in the latest trading session, marking a +1.81% move from the prior day. This change outpaced the S&P 500's 1.46% gain on the day. At the same time, the Dow added 1%, and the tech-heavy Nasdaq lost 0.17%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had lost 10.13% over the past month, lagging the Medical sector's loss of 3.17% and the S&P 500's loss of 6.94% in that time.
Investors will be hoping for strength from Abbott as it approaches its next earnings release. On that day, Abbott is projected to report earnings of $1.11 per share, which would represent a year-over-year decline of 5.13%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $10.36 billion, up 1.35% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.83 per share and revenue of $41.62 billion. These totals would mark changes of -7.29% and -3.38%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Abbott. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.42% higher. Abbott is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Abbott is holding a Forward P/E ratio of 21.32. Its industry sports an average Forward P/E of 20.57, so we one might conclude that Abbott is trading at a premium comparatively.
Investors should also note that ABT has a PEG ratio of 3.72 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ABT's industry had an average PEG ratio of 1.48 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This group has a Zacks Industry Rank of 193, putting it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott (ABT) closed at $104.80 in the latest trading session, marking a +1.81% move from the prior day. Investors should also note that ABT has a PEG ratio of 3.72 right now. ABT's industry had an average PEG ratio of 1.48 as of yesterday's close. | Abbott (ABT) closed at $104.80 in the latest trading session, marking a +1.81% move from the prior day. Investors should also note that ABT has a PEG ratio of 3.72 right now. ABT's industry had an average PEG ratio of 1.48 as of yesterday's close. | Abbott (ABT) closed at $104.80 in the latest trading session, marking a +1.81% move from the prior day. Investors should also note that ABT has a PEG ratio of 3.72 right now. ABT's industry had an average PEG ratio of 1.48 as of yesterday's close. | Abbott (ABT) closed at $104.80 in the latest trading session, marking a +1.81% move from the prior day. Investors should also note that ABT has a PEG ratio of 3.72 right now. ABT's industry had an average PEG ratio of 1.48 as of yesterday's close. |
31583.0 | 2022-06-14 00:00:00 UTC | ACWI, BAC, ABT, WMT: Large Inflows Detected at ETF | ABT | https://www.nasdaq.com/articles/acwi-bac-abt-wmt%3A-large-inflows-detected-at-etf | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI ETF (Symbol: ACWI) where we have detected an approximate $233.6 million dollar inflow -- that's a 1.4% increase week over week in outstanding units (from 196,600,000 to 199,400,000). Among the largest underlying components of ACWI, in trading today Bank of America Corp (Symbol: BAC) is up about 0.2%, Abbott Laboratories (Symbol: ABT) is off about 2.2%, and Walmart Inc (Symbol: WMT) is lower by about 0.5%. For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average:
Looking at the chart above, ACWI's low point in its 52 week range is $83.12 per share, with $107.46 as the 52 week high point — that compares with a last trade of $83.23. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of ACWI, in trading today Bank of America Corp (Symbol: BAC) is up about 0.2%, Abbott Laboratories (Symbol: ABT) is off about 2.2%, and Walmart Inc (Symbol: WMT) is lower by about 0.5%. For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average: Looking at the chart above, ACWI's low point in its 52 week range is $83.12 per share, with $107.46 as the 52 week high point — that compares with a last trade of $83.23. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of ACWI, in trading today Bank of America Corp (Symbol: BAC) is up about 0.2%, Abbott Laboratories (Symbol: ABT) is off about 2.2%, and Walmart Inc (Symbol: WMT) is lower by about 0.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI ETF (Symbol: ACWI) where we have detected an approximate $233.6 million dollar inflow -- that's a 1.4% increase week over week in outstanding units (from 196,600,000 to 199,400,000). For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average: Looking at the chart above, ACWI's low point in its 52 week range is $83.12 per share, with $107.46 as the 52 week high point — that compares with a last trade of $83.23. | Among the largest underlying components of ACWI, in trading today Bank of America Corp (Symbol: BAC) is up about 0.2%, Abbott Laboratories (Symbol: ABT) is off about 2.2%, and Walmart Inc (Symbol: WMT) is lower by about 0.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI ETF (Symbol: ACWI) where we have detected an approximate $233.6 million dollar inflow -- that's a 1.4% increase week over week in outstanding units (from 196,600,000 to 199,400,000). For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average: Looking at the chart above, ACWI's low point in its 52 week range is $83.12 per share, with $107.46 as the 52 week high point — that compares with a last trade of $83.23. | Among the largest underlying components of ACWI, in trading today Bank of America Corp (Symbol: BAC) is up about 0.2%, Abbott Laboratories (Symbol: ABT) is off about 2.2%, and Walmart Inc (Symbol: WMT) is lower by about 0.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI ETF (Symbol: ACWI) where we have detected an approximate $233.6 million dollar inflow -- that's a 1.4% increase week over week in outstanding units (from 196,600,000 to 199,400,000). For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average: Looking at the chart above, ACWI's low point in its 52 week range is $83.12 per share, with $107.46 as the 52 week high point — that compares with a last trade of $83.23. |
31584.0 | 2022-06-13 00:00:00 UTC | ESLOY vs. ABT: Which Stock Is the Better Value Option? | ABT | https://www.nasdaq.com/articles/esloy-vs.-abt%3A-which-stock-is-the-better-value-option | nan | nan | Investors looking for stocks in the Medical - Products sector might want to consider either EssilorLuxottica Unsponsored ADR (ESLOY) or Abbott (ABT). But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits.
EssilorLuxottica Unsponsored ADR has a Zacks Rank of #2 (Buy), while Abbott has a Zacks Rank of #3 (Hold) right now. This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that ESLOY is likely seeing its earnings outlook improve to a greater extent. But this is only part of the picture for value investors.
Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels.
The Style Score Value grade factors in a variety of key fundamental metrics, including the popular P/E ratio, P/S ratio, earnings yield, cash flow per share, and a number of other key stats that are commonly used by value investors.
ESLOY currently has a forward P/E ratio of 22.04, while ABT has a forward P/E of 22.71. We also note that ESLOY has a PEG ratio of 1.05. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ABT currently has a PEG ratio of 3.95.
Another notable valuation metric for ESLOY is its P/B ratio of 1.55. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, ABT has a P/B of 5.39.
These are just a few of the metrics contributing to ESLOY's Value grade of B and ABT's Value grade of C.
ESLOY stands above ABT thanks to its solid earnings outlook, and based on these valuation figures, we also feel that ESLOY is the superior value option right now.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Investors looking for stocks in the Medical - Products sector might want to consider either EssilorLuxottica Unsponsored ADR (ESLOY) or Abbott (ABT). ESLOY currently has a forward P/E ratio of 22.04, while ABT has a forward P/E of 22.71. ABT currently has a PEG ratio of 3.95. | Investors looking for stocks in the Medical - Products sector might want to consider either EssilorLuxottica Unsponsored ADR (ESLOY) or Abbott (ABT). ESLOY currently has a forward P/E ratio of 22.04, while ABT has a forward P/E of 22.71. ABT currently has a PEG ratio of 3.95. | Investors looking for stocks in the Medical - Products sector might want to consider either EssilorLuxottica Unsponsored ADR (ESLOY) or Abbott (ABT). These are just a few of the metrics contributing to ESLOY's Value grade of B and ABT's Value grade of C. ESLOY stands above ABT thanks to its solid earnings outlook, and based on these valuation figures, we also feel that ESLOY is the superior value option right now. ESLOY currently has a forward P/E ratio of 22.04, while ABT has a forward P/E of 22.71. | ABT currently has a PEG ratio of 3.95. These are just a few of the metrics contributing to ESLOY's Value grade of B and ABT's Value grade of C. ESLOY stands above ABT thanks to its solid earnings outlook, and based on these valuation figures, we also feel that ESLOY is the superior value option right now. Investors looking for stocks in the Medical - Products sector might want to consider either EssilorLuxottica Unsponsored ADR (ESLOY) or Abbott (ABT). |
31585.0 | 2022-06-12 00:00:00 UTC | Will Medtronic Stock See Higher Levels? | ABT | https://www.nasdaq.com/articles/will-medtronic-stock-see-higher-levels | nan | nan | Medtronic stock (NYSE: MDT) has fallen 9% in a month, underperforming the broader markets, with the S&P500 rising 3%. The company recently reported its Q4 FY22 results, which fell short of expectations. Medtronic’s revenue of $8.1 billion was down 1% y-o-y and fell short of the $8.4 billion consensus estimate. Global supply chain disruptions and lockdowns in China weighed on the revenue growth. The company’s earnings of $1.52 on a per share and adjusted basis were up 2% y-o-y but were below the $1.56 consensus estimate. Medtronic expects its fiscal 2023 revenue to rise in the mid-single digits and adjusted earnings to be up in the low-single digits.
Now that Medtronic stock has seen a fall of 9% in a month, will it continue its downward trajectory, or is a rise imminent? Going by historical performance, there is a high chance of a rise for MDT stock over the next month. Of 84 instances in the last ten years that MDT stock saw a twenty-one-day fall of 9% or more, 63 resulted in MDT stock rising over the subsequent one-month period (twenty-one trading days). This historical pattern reflects 63 out of 84, or about a 75% chance of a rise in MDT stock over the next month. See our analysis of Medtronic Stock Chance of Rise for more details.
Calculation of ‘Event Probability‘ and ‘Chance of Rise‘ using the last ten years’ data
After moving -4% or more over five days, the stock rose on 62% of the occasions in the next five days.
After moving -7% or more over ten days, the stock rose on 54% of the occasions in the next ten days.
After moving -9% or more over a twenty-one-day period, the stock rose on 75% of the occasions in the next twenty-one days.
This pattern suggests a higher chance of a rise in MDT stock over the next five days, next ten days, and next month.
Medtronic (MDT) Stock Return (Recent) Comparison With Peers
Five-Day Return: ABT highest at -0.2%; ISRG lowest at -5.6%
Ten-Day Return: ABT highest at 2.8%; MDT lowest at -6.9%
Twenty-One Day Return: ABT highest at 3.0%; MDT lowest at -8.7%
may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. For example, you'll be surprised how counter-intuitive the stock valuation is for Pfizer vs Merck. \n\nBased on article theme, variations to \"While may have moved\" can be (a) While may be overvalued (or undervalued) (b) While can move (c) Although may not be attractive (d) While is worth considering"}" data-sheets-userformat="{"2":1049345,"3":{"1":0},"11":4,"12":0,"23":1}" data-sheets-textstyleruns="{"1":0}{"1":210,"2":{"2":{"1":2,"2":1136076},"5":1,"9":1}}{"1":225}{"1":229,"2":{"4":8}}{"1":267,"2":{"4":8,"6":1}}{"1":299,"2":{"4":8}}" data-sheets-hyperlinkruns="{"1":210,"2":"https://dashboards.trefis.com/data/companies/PFE/no-login-required/HMIwIvym/Pfizer-vs-Merck-PFE-stock-s-similar-valuation-vs-MRK-stock-is-counter-intuitive"}{"1":225}">While MDT stock may see higher levels, the Covid-19 crisis has created many pricing discontinuities, which can offer attractive trading opportunities. For example, you’ll be surprised how counter-intuitive the stock valuation is for TeleTech vs. Emergent Biosolutions.
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Returns Jun 2022
MTD [1] 2022
YTD [1] 2017-22
Total [2]
MDT Return -4% -7% 35%
S&P 500 Return 1% -13% 86%
Trefis Multi-Strategy Portfolio 2% -18% 224%
[1] Month-to-date and year-to-date as of 6/9/2022
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Medtronic (MDT) Stock Return (Recent) Comparison With Peers Five-Day Return: ABT highest at -0.2%; ISRG lowest at -5.6% Ten-Day Return: ABT highest at 2.8%; MDT lowest at -6.9% Twenty-One Day Return: ABT highest at 3.0%; MDT lowest at -8.7% may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. Medtronic stock (NYSE: MDT) has fallen 9% in a month, underperforming the broader markets, with the S&P500 rising 3%. Global supply chain disruptions and lockdowns in China weighed on the revenue growth. | Medtronic (MDT) Stock Return (Recent) Comparison With Peers Five-Day Return: ABT highest at -0.2%; ISRG lowest at -5.6% Ten-Day Return: ABT highest at 2.8%; MDT lowest at -6.9% Twenty-One Day Return: ABT highest at 3.0%; MDT lowest at -8.7% may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. Of 84 instances in the last ten years that MDT stock saw a twenty-one-day fall of 9% or more, 63 resulted in MDT stock rising over the subsequent one-month period (twenty-one trading days). Total [2] MDT Return -4% -7% 35% S&P 500 Return 1% -13% 86% Trefis Multi-Strategy Portfolio 2% -18% 224% [1] Month-to-date and year-to-date as of 6/9/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Medtronic (MDT) Stock Return (Recent) Comparison With Peers Five-Day Return: ABT highest at -0.2%; ISRG lowest at -5.6% Ten-Day Return: ABT highest at 2.8%; MDT lowest at -6.9% Twenty-One Day Return: ABT highest at 3.0%; MDT lowest at -8.7% may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. Of 84 instances in the last ten years that MDT stock saw a twenty-one-day fall of 9% or more, 63 resulted in MDT stock rising over the subsequent one-month period (twenty-one trading days). Total [2] MDT Return -4% -7% 35% S&P 500 Return 1% -13% 86% Trefis Multi-Strategy Portfolio 2% -18% 224% [1] Month-to-date and year-to-date as of 6/9/2022 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market-Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Medtronic (MDT) Stock Return (Recent) Comparison With Peers Five-Day Return: ABT highest at -0.2%; ISRG lowest at -5.6% Ten-Day Return: ABT highest at 2.8%; MDT lowest at -6.9% Twenty-One Day Return: ABT highest at 3.0%; MDT lowest at -8.7% may have moved, 2020 has created many pricing discontinuities which can offer attractive trading opportunities. Of 84 instances in the last ten years that MDT stock saw a twenty-one-day fall of 9% or more, 63 resulted in MDT stock rising over the subsequent one-month period (twenty-one trading days). This pattern suggests a higher chance of a rise in MDT stock over the next five days, next ten days, and next month. |
31586.0 | 2022-06-10 00:00:00 UTC | White House says Delta to ship UK baby formula starting June 20 | ABT | https://www.nasdaq.com/articles/white-house-says-delta-to-ship-uk-baby-formula-starting-june-20 | nan | nan | Adds details from FDA statement
WASHINGTON, June 10 (Reuters) - Delta Air Lines Inc DAL.N will start transporting 3.2 million bottles of Kendamil baby formula on June 20, the White House said on Friday in announcing the sixth shipment of overseas formula to help quell a U.S. shortage.
Delta will ship about 212,000 pounds of the British formula maker's product from London to Boston and Detroit, where it will then get to retailers, the White House said in a statement.
Separately, the U.S. Food and Drug Administration said Abbott Laboratories ABT.N would have 16.5 million bottles of its Similac infant formula ready to be shipped from Spain this month.
It did not say when the bottles would be shipped into the United States, but said the government was looking at options to get the product to the U.S. "as quickly as possible".
The shipments are the latest in a string of Operation Fly Formula flights aimed at restocking U.S. shelves after Abbott, a major U.S. infant formula supplier, saw a key factory in Michigan shut down earlier this year and recalled its product.
U.S. President Joe Biden this week said nearly 10 million bottles of safe infant formula would be brought into the country to be sold nationwide in the next two weeks.
His administration is also securing overseas formula made by Nestle SA NESN.S and Bubs Australia BUB.AX.
The bay formula shortage comes as Biden grapples with high inflation, gun violence and other issues before November congressional elections.
FACTBOX-Global baby formula makers send products to restock U.S. shelves
(Reporting by Susan Heavey in Washington; additional reporting by Manas Mishra in Bengaluru; Editing by Doina Chiacu and David Gregorio)
((sheavey@thomsonreuters.com; +1-202-898-8300;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Separately, the U.S. Food and Drug Administration said Abbott Laboratories ABT.N would have 16.5 million bottles of its Similac infant formula ready to be shipped from Spain this month. Delta will ship about 212,000 pounds of the British formula maker's product from London to Boston and Detroit, where it will then get to retailers, the White House said in a statement. FACTBOX-Global baby formula makers send products to restock U.S. shelves (Reporting by Susan Heavey in Washington; additional reporting by Manas Mishra in Bengaluru; Editing by Doina Chiacu and David Gregorio) ((sheavey@thomsonreuters.com; +1-202-898-8300;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Separately, the U.S. Food and Drug Administration said Abbott Laboratories ABT.N would have 16.5 million bottles of its Similac infant formula ready to be shipped from Spain this month. Adds details from FDA statement WASHINGTON, June 10 (Reuters) - Delta Air Lines Inc DAL.N will start transporting 3.2 million bottles of Kendamil baby formula on June 20, the White House said on Friday in announcing the sixth shipment of overseas formula to help quell a U.S. shortage. U.S. President Joe Biden this week said nearly 10 million bottles of safe infant formula would be brought into the country to be sold nationwide in the next two weeks. | Separately, the U.S. Food and Drug Administration said Abbott Laboratories ABT.N would have 16.5 million bottles of its Similac infant formula ready to be shipped from Spain this month. Adds details from FDA statement WASHINGTON, June 10 (Reuters) - Delta Air Lines Inc DAL.N will start transporting 3.2 million bottles of Kendamil baby formula on June 20, the White House said on Friday in announcing the sixth shipment of overseas formula to help quell a U.S. shortage. The shipments are the latest in a string of Operation Fly Formula flights aimed at restocking U.S. shelves after Abbott, a major U.S. infant formula supplier, saw a key factory in Michigan shut down earlier this year and recalled its product. | Separately, the U.S. Food and Drug Administration said Abbott Laboratories ABT.N would have 16.5 million bottles of its Similac infant formula ready to be shipped from Spain this month. Adds details from FDA statement WASHINGTON, June 10 (Reuters) - Delta Air Lines Inc DAL.N will start transporting 3.2 million bottles of Kendamil baby formula on June 20, the White House said on Friday in announcing the sixth shipment of overseas formula to help quell a U.S. shortage. Delta will ship about 212,000 pounds of the British formula maker's product from London to Boston and Detroit, where it will then get to retailers, the White House said in a statement. |
31587.0 | 2022-06-10 00:00:00 UTC | Daily Dividend Report: AMAT,CARR,ABT,CL,UTZ | ABT | https://www.nasdaq.com/articles/daily-dividend-report%3A-amatcarrabtclutz | nan | nan | Applied Materials today announced that its Board of Directors has approved a quarterly cash dividend of $0.26 per share payable on the company's common stock. The dividend is payable on Sept. 15, 2022 to shareholders of record as of Aug. 25, 2022. The quarterly cash dividend is a key component of Applied's capital allocation strategy. In the second quarter of fiscal 2022, Applied returned $2.01 billion to shareholders through dividends and share repurchases. The company had approximately $7.4 billion remaining in its share buyback authorization at the end of that period.
Carrier Global, the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, announced today that its Board of Directors declared a quarterly dividend of $0.15 per outstanding share of Carrier common stock. The dividend will be payable on August 10, 2022, to shareowners of record at the close of business on June 23, 2022.
The board of directors of Abbott today declared a quarterly common dividend of 47 cents per share. This marks the 394th consecutive quarterly dividend to be paid by Abbott since 1924. The cash dividend is payable Aug. 15, 2022, to shareholders of record at the close of business on July 15, 2022. Abbott has increased its dividend payout for 50 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have increased dividends annually for at least 25 consecutive years.
The Board of Directors of Colgate-Palmolive today declared a quarterly cash dividend of $0.47 per common share, payable on August 15, 2022, to shareholders of record on July 21, 2022. The Company has paid uninterrupted dividends on its common stock since 1895.
Utz Brands, a leading U.S. manufacturer of branded salty snacks, today announced that its Board of Directors declared a regular quarterly cash dividend of approximately $0.054 per share on the Company's Class A Common Stock. Payment is expected to be made by the Company on July 7, 2022, to stockholders of record at the close of business on June 20, 2022.
VIDEO: Daily Dividend Report: AMAT,CARR,ABT,CL,UTZ
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | VIDEO: Daily Dividend Report: AMAT,CARR,ABT,CL,UTZ The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Applied Materials today announced that its Board of Directors has approved a quarterly cash dividend of $0.26 per share payable on the company's common stock. Carrier Global, the leading global provider of healthy, safe, sustainable and intelligent building and cold chain solutions, announced today that its Board of Directors declared a quarterly dividend of $0.15 per outstanding share of Carrier common stock. | VIDEO: Daily Dividend Report: AMAT,CARR,ABT,CL,UTZ The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Applied Materials today announced that its Board of Directors has approved a quarterly cash dividend of $0.26 per share payable on the company's common stock. The Board of Directors of Colgate-Palmolive today declared a quarterly cash dividend of $0.47 per common share, payable on August 15, 2022, to shareholders of record on July 21, 2022. | VIDEO: Daily Dividend Report: AMAT,CARR,ABT,CL,UTZ The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Applied Materials today announced that its Board of Directors has approved a quarterly cash dividend of $0.26 per share payable on the company's common stock. The Board of Directors of Colgate-Palmolive today declared a quarterly cash dividend of $0.47 per common share, payable on August 15, 2022, to shareholders of record on July 21, 2022. | VIDEO: Daily Dividend Report: AMAT,CARR,ABT,CL,UTZ The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Applied Materials today announced that its Board of Directors has approved a quarterly cash dividend of $0.26 per share payable on the company's common stock. The Board of Directors of Colgate-Palmolive today declared a quarterly cash dividend of $0.47 per common share, payable on August 15, 2022, to shareholders of record on July 21, 2022. |
31588.0 | 2022-06-10 00:00:00 UTC | Is Abbott Laboratories Stock a Buy Now? | ABT | https://www.nasdaq.com/articles/is-abbott-laboratories-stock-a-buy-now | nan | nan | Abbott Laboratories (NYSE: ABT) is a top healthcare stock that's been in the news recently for its role in the U.S. baby formula shortage. It's the biggest supplier of Similac, and manufacturing challenges have affected consumers across the country. But the company is now restarting its operations at its Michigan plant. And there's more good news -- it recently obtained approval from the Food and Drug Administration for its next-generation glucose monitor.
The healthcare stock is down more than 17% this year, worse than the S&P 500's 13% drop. Could Abbott be a good buy right now, in light of these recent developments?
Image source: Getty Images.
Pediatric nutrition sales fell more than 20%
When Abbott reported its results for the first three months of the year, it noted that it initiated a voluntary recall of infant formula products in February. The result was a troubling result for its nutrition segment, where sales of $1.9 billion declined by 7% year over year. Pediatric nutrition sales were the driving force behind the decline, as they fell 21% worldwide and 34% in the U.S. market.
Lagging nutrition revenue, however, wasn't enough to drag down the company's results. Strong growth in all of Abbott's other businesses, including diagnostics and medical devices, made up for declines in nutrition. The company's sales of $11.9 billion across all of its segments meant the business still grew at a rate of 14% year over year.
Earlier this month, however, the company resumed its operations at its plant in Michigan, where it makes baby formula. Months earlier, it was shut down amid concerns about contamination and infants who were getting sick, which led to the recall. The news will come as a relief to consumers struggling to find baby formula, and it will also help stop the bleeding for the company's nutrition segment.
And that's not the only piece of good news for Abbott investors.
FDA approves the FreeStyle Libre 3
On May 31, Abbott announced that the FDA cleared the company's continuous glucose monitor (CGM), the FreeStyle Libre 3, for any diabetic aged 4 and older. The company calls it a "game changer" and says that people with diabetes will "be able to manage their health minute-by-minute with the world's smallest and thinnest sensor and most accurate 14-day continuous glucose monitoring system."
The company's diabetes care segment contributed $1.1 billion in revenue last quarter, with sales rising by 15% year over year. The company noted that its FreeStyle Libre products accounted for $1 billion of that revenue and rose by more than 20% year over year. Introducing a newer, thinner, and more accurate product in the Libre 3 could help generate even more growth for that area of its operations. Of Abbott's medical-device revenue, which totaled $3.6 billion in Q1, diabetes care accounted for close to one-third of that total.
Should you invest in Abbott Labs?
Abbott's Q1 results demonstrated the company's resilience and strong diversification in being able to deliver strong numbers despite adversity in its nutrition segment. Now that those issues look to be resolving themselves, and with the company getting a nod from the FDA for a new CGM for the U.S. market, there are catalysts that could help drive better numbers in future quarters.
And that could be key as Abbott will see a slowdown in testing revenue. COVID-19 testing sales still contributed a hefty $3.3 billion to the top line last quarter, and that number is likely to be much smaller in future periods. The company said in its Q1 earnings report that it expects the bulk of the $4.5 billion it forecast in COVID-19 testing revenue for 2022 to come in the first part of the year.
The big question is how all these pieces play out. Even with a resumption in baby formula manufacturing and a potential boost from a new Libre device, it seems unlikely that Abbott's quarterly revenue will be higher in subsequent quarters than it was in Q1 as the loss in COVID-19 testing sales could leave too large of a hole to fill.
That makes it even more difficult to justify the stock's valuation, as Abbott trades at a forward price-to-earnings multiple of 24. That's much higher than the S&P 500's forward earnings multiple of 18. Although Abbott is a solid long-term buy, I'd wait for more of a decline before buying the stock, as there are much better deals out there for investors right now.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (NYSE: ABT) is a top healthcare stock that's been in the news recently for its role in the U.S. baby formula shortage. Pediatric nutrition sales fell more than 20% When Abbott reported its results for the first three months of the year, it noted that it initiated a voluntary recall of infant formula products in February. The company calls it a "game changer" and says that people with diabetes will "be able to manage their health minute-by-minute with the world's smallest and thinnest sensor and most accurate 14-day continuous glucose monitoring system." | Abbott Laboratories (NYSE: ABT) is a top healthcare stock that's been in the news recently for its role in the U.S. baby formula shortage. FDA approves the FreeStyle Libre 3 On May 31, Abbott announced that the FDA cleared the company's continuous glucose monitor (CGM), the FreeStyle Libre 3, for any diabetic aged 4 and older. The company's diabetes care segment contributed $1.1 billion in revenue last quarter, with sales rising by 15% year over year. | Abbott Laboratories (NYSE: ABT) is a top healthcare stock that's been in the news recently for its role in the U.S. baby formula shortage. Pediatric nutrition sales fell more than 20% When Abbott reported its results for the first three months of the year, it noted that it initiated a voluntary recall of infant formula products in February. The company's diabetes care segment contributed $1.1 billion in revenue last quarter, with sales rising by 15% year over year. | Abbott Laboratories (NYSE: ABT) is a top healthcare stock that's been in the news recently for its role in the U.S. baby formula shortage. The result was a troubling result for its nutrition segment, where sales of $1.9 billion declined by 7% year over year. And that's not the only piece of good news for Abbott investors. |
31589.0 | 2022-06-10 00:00:00 UTC | Abbott (ABT) Medical Devices Arm Gains Traction, FX Woe Stays | ABT | https://www.nasdaq.com/articles/abbott-abt-medical-devices-arm-gains-traction-fx-woe-stays | nan | nan | Abbott Laboratories ABT is well poised for growth in the coming quarters, backed by its progress in the diabetes business. Yet, the business environment continues to be challenging. Slow growth in the nutrition business continues to dampen the top line. Abbott currently carries a Zacks Rank #3 (Hold).
Over the past year, Abbott has been outperforming the industry it belongs to. The stock has gained 4.1% against the industry’s 25.1% fall. The company posted better-than-expected earnings and revenue numbers for the first quarter of 2022. Overall, year-over-year improvements were robust. Barring Nutrition, the company registered organic sales growth across all its core operating segments. Organic sales increased 17.5% in the quarter, led by double-digit growth in medical devices, EPD as well as diagnostics, both with and without COVID testing-related sales.
Within EPD, Abbott achieved double-digit organic sales growth led by double-digit growth across several countries and core therapeutic areas, including gastroenterology, respiratory and CNS pain management.
In Diagnostics, in the reported quarter, COVID test sales were $3.3 billion. Excluding COVID testing sales, worldwide diagnostic sales grew over 12% on the successful rollout of the Alinity suite.
Within medical devices, sales grew 11.5% in the quarter led by double-digit growth in diabetes care, structural heart, heart failure and electrophysiology. In diabetes care, sales of FreeStyle Libre grew more than 25% on an organic basis and till the Q1 earnings announcement, the user base reached approximately 4 million users globally.
Abbott Laboratories Price
Abbott Laboratories price | Abbott Laboratories Quote
Within cardiovascular devices, despite the adverse procedure volume-related scenario in Q1 on elevated COVID case rates early in the year, Abbott saw a steady improvement in procedure trends as the case rates came down in the second half of the quarter and the trend continued into April. In terms of product development, the company received FDA approval for Aveir, its leadless pacemaker to treat patients with slow heart rhythms. Added to this, CardioMEMS received an expanded indication in the United States to treat more patients suffering from earlier stages of heart failure. Abbott also received FDA clearance for the latest generation of the company’s EnSite X system, which provides a 360-degree view of the heart for improved cardiac mapping.
Within Nutrition, while the pediatric nutrition business witnessed a drag, the adult nutrition business continued to perform well with global organic sales growth of 11.5%, led by the company’s Ensure and Glucerna brands.
On the flip side, within Abbott’s Nutrition business, worldwide Nutrition sales decreased 7% on a reported basis and 4.4% on an organic basis in the first quarter. During the quarter, sales were negatively impacted by a voluntary recall of certain powder formulas manufactured at one of Abbott's U.S. plants. Accordingly, worldwide Pediatric Nutrition sales decreased 20.6% on a reported basis and 18.8% on an organic basis. Internationally, Pediatric Nutrition sales were unfavorably impacted, primarily by challenging market conditions in China.
Further, during the first half of Q1, for cardiovascular devices, procedure volumes were negatively impacted by elevated COVID case rates. This hampered overall sales growth within this business.
Added to this, in Q1, the U.S. dollar continued to strengthen versus several currencies, which resulted in a more unfavorable impact on sales compared to exchange rates at the time of the Q4earnings callin January. Abbott reported a 3.7% unfavorable year-over-year impact of foreign exchange in the first quarter.
Key Picks
A few better-ranked stocks in the broader medical space are UnitedHealth Group Incorporated UNH, Medpace Holdings, Inc. MEDP and Alkermes plc ALKS.
UnitedHealth, having a Zacks Rank #2 (Buy), reported first-quarter 2022 earnings per share (EPS) of $5.49, which beat the Zacks Consensus Estimate by 1.7%. Revenues of $80.1 billion outpaced the consensus mark by 14.2%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
UnitedHealth has an estimated long-term growth rate of 14.8%. UNH’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.7%.
Medpace reported first-quarter 2022 adjusted EPS of $1.69, which surpassed the Zacks Consensus Estimate by 34.1%. Revenues of $330.9 million outpaced the Zacks Consensus Estimate by 1.1%. It currently has a Zacks Rank #2.
Medpace has a historical growth rate of 27.3%. MEDP’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%.
Alkermes reported first-quarter 2022 adjusted EPS of 12 cents, which surpassed the Zacks Consensus Estimate of a penny. Revenues of $278.6 million outpaced the Zacks Consensus Estimate by 6.2%. It currently sports a Zacks Rank #1.
Alkermes has an estimated long-term growth rate of 25.1%. ALKS’ earnings surpassed estimates in the trailing four quarters, the average surprise being 350.5%.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Abbott Laboratories (ABT): Free Stock Analysis Report
UnitedHealth Group Incorporated (UNH): Free Stock Analysis Report
Alkermes plc (ALKS): Free Stock Analysis Report
Medpace Holdings, Inc. (MEDP): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories ABT is well poised for growth in the coming quarters, backed by its progress in the diabetes business. Abbott Laboratories (ABT): Free Stock Analysis Report In terms of product development, the company received FDA approval for Aveir, its leadless pacemaker to treat patients with slow heart rhythms. | Abbott Laboratories ABT is well poised for growth in the coming quarters, backed by its progress in the diabetes business. Abbott Laboratories (ABT): Free Stock Analysis Report Within medical devices, sales grew 11.5% in the quarter led by double-digit growth in diabetes care, structural heart, heart failure and electrophysiology. | Abbott Laboratories ABT is well poised for growth in the coming quarters, backed by its progress in the diabetes business. Abbott Laboratories (ABT): Free Stock Analysis Report Abbott Laboratories Price Abbott Laboratories price | Abbott Laboratories Quote Within cardiovascular devices, despite the adverse procedure volume-related scenario in Q1 on elevated COVID case rates early in the year, Abbott saw a steady improvement in procedure trends as the case rates came down in the second half of the quarter and the trend continued into April. | Abbott Laboratories ABT is well poised for growth in the coming quarters, backed by its progress in the diabetes business. Abbott Laboratories (ABT): Free Stock Analysis Report Abbott also received FDA clearance for the latest generation of the company’s EnSite X system, which provides a 360-degree view of the heart for improved cardiac mapping. |
31590.0 | 2022-06-10 00:00:00 UTC | The Zacks Analyst Blog Highlights Novo Nordisk, Toyota Motor, Salesforce, Abbott Laboratories, Raytheon Technologies, and Equinor | ABT | https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-novo-nordisk-toyota-motor-salesforce-abbott-laboratories | nan | nan | For Immediate Release
Chicago, IL – June 10, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Novo Nordisk A/S NVO, Toyota Motor Corp. TM, Salesforce, Inc. CRM, Abbott Laboratories ABT,Raytheon Technologies Corporation RTX, and Equinor ASA EQNR.
Here are highlights from Thursday’s Analyst Blog:
Top Research Reports for Novo Nordisk, Toyota and salesforce.com
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Novo Nordisk A/S, Toyota Motor Corp., and Salesforce, Inc.. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today's research reports here >>>
Novo Nordisk shares have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+36.9% vs. +19.3%) on the back of the company's promising diabetes drug, Ozempic, which is off to a solid start since its launch. The launch of Rybelsus also looks impressive. Novo Nordisk has one of the broadest diabetes portfolios in the industry. Ozempic, Rybelsus, Xultophy and Saxenda have been helping the company maintain momentum. Label expansion of these existing drugs is expected to boost sales.
However, lower realized prices in the United States, loss of exclusivity for products and stiff competition affect sales. Also, sales are being negatively impacted by the COVID-19 pandemic. Also, the supply challenges for Wegovy have hurt the stock. The patent expiry on some of the products in Novo Nordisk's portfolio is a concern.
(You can read the full research report on Novo Nordisk here >>>)
Toyota shares have declined -7.0% over the past year against the Zacks Automotive - Foreign industry's decline of -27.3%. The Zacks analyst believes that the company is also reeling under severe chip crunch compounded by the Russia-Ukraine war. The Japanese auto biggie has warned of unprecedented commodity inflation. It expects a sharp increase in material costs to adversely impact the fiscal 2023 income to the tune of ¥1.45 trillion. Supply-chain disruptions, tough labor market, logistical challenges and manufacturing inefficiencies will play spoilsports.
In the light of such headwinds, the company expects its operating income to decline around 20% on a year-over-year basis in fiscal 2023. High Capex and R&D expenses on advanced technologies are also likely to dent near-term margins and cash flows of the company. Further, Toyota's rising debt levels play a spoilsport. Consequently, the stock warrants a bearish stance now.
(You can read the full research report on Toyota here >>>)
Salesforce shares have declined -25.7% over the year-to-date basis against the Zacks Computer - Software industry's decline of -21.1%. The Zacks analyst believes the stiff competition faced by the company is a concern. Besides, unfavorable currency fluctuations along with increasing investments in international expansions and data centers are an overhang on near-term profitability. Nevertheless, Salesforce is benefiting from a robust demand environment as customers are undergoing a major digital transformation.
The rapid adoption of its cloud-based solutions is driving demand for its products. Salesforce's sustained focus on introducing more aligned products as per customer needs is driving its top-line. Continued deal wins in the international market is another growth driver. Furthermore, the recent acquisition of Slack would position the company to be a leader in the enterprise team collaboration solution space and better compete with Microsoft's Teams product.
(You can read the full research report on Salesforce here >>>)
Other noteworthy reports we are featuring today include Abbott Laboratories, Raytheon Technologies Corporation, and Equinor.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Abbott Laboratories (ABT): Free Stock Analysis Report
Salesforce Inc. (CRM): Free Stock Analysis Report
Toyota Motor Corporation (TM): Free Stock Analysis Report
Novo Nordisk AS (NVO): Free Stock Analysis Report
Equinor ASA (EQNR): Free Stock Analysis Report
Raytheon Technologies Corporation (RTX): Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks recently featured in the blog include: Novo Nordisk A/S NVO, Toyota Motor Corp. TM, Salesforce, Inc. CRM, Abbott Laboratories ABT,Raytheon Technologies Corporation RTX, and Equinor ASA EQNR. Abbott Laboratories (ABT): Free Stock Analysis Report You can see all of today's research reports here >>> Novo Nordisk shares have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+36.9% vs. +19.3%) on the back of the company's promising diabetes drug, Ozempic, which is off to a solid start since its launch. | Stocks recently featured in the blog include: Novo Nordisk A/S NVO, Toyota Motor Corp. TM, Salesforce, Inc. CRM, Abbott Laboratories ABT,Raytheon Technologies Corporation RTX, and Equinor ASA EQNR. Abbott Laboratories (ABT): Free Stock Analysis Report Today's Research Daily features new research reports on 16 major stocks, including Novo Nordisk A/S, Toyota Motor Corp., and Salesforce, Inc.. | Stocks recently featured in the blog include: Novo Nordisk A/S NVO, Toyota Motor Corp. TM, Salesforce, Inc. CRM, Abbott Laboratories ABT,Raytheon Technologies Corporation RTX, and Equinor ASA EQNR. Abbott Laboratories (ABT): Free Stock Analysis Report Here are highlights from Thursday’s Analyst Blog: Top Research Reports for Novo Nordisk, Toyota and salesforce.com The Zacks Research Daily presents the best research output of our analyst team. | Stocks recently featured in the blog include: Novo Nordisk A/S NVO, Toyota Motor Corp. TM, Salesforce, Inc. CRM, Abbott Laboratories ABT,Raytheon Technologies Corporation RTX, and Equinor ASA EQNR. Abbott Laboratories (ABT): Free Stock Analysis Report Here are highlights from Thursday’s Analyst Blog: Top Research Reports for Novo Nordisk, Toyota and salesforce.com The Zacks Research Daily presents the best research output of our analyst team. |
31591.0 | 2022-06-09 00:00:00 UTC | Abbott (ABT) Stock Moves -1.73%: What You Should Know | ABT | https://www.nasdaq.com/articles/abbott-abt-stock-moves-1.73%3A-what-you-should-know | nan | nan | In the latest trading session, Abbott (ABT) closed at $112.71, marking a -1.73% move from the previous day. This change was narrower than the S&P 500's daily loss of 2.38%. Meanwhile, the Dow lost 1.94%, and the Nasdaq, a tech-heavy index, lost 0.64%.
Heading into today, shares of the maker of infant formula, medical devices and drugs had gained 8.36% over the past month, outpacing the Medical sector's gain of 1.41% and the S&P 500's loss of 0.07% in that time.
Wall Street will be looking for positivity from Abbott as it approaches its next earnings report date. The company is expected to report EPS of $1.11, down 5.13% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $10.36 billion, up 1.35% from the year-ago period.
ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.62 billion. These results would represent year-over-year changes of -7.29% and -3.38%, respectively.
Any recent changes to analyst estimates for Abbott should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.65% higher. Abbott is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Abbott is holding a Forward P/E ratio of 23.76. Its industry sports an average Forward P/E of 22.99, so we one might conclude that Abbott is trading at a premium comparatively.
It is also worth noting that ABT currently has a PEG ratio of 4.13. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Products industry currently had an average PEG ratio of 1.68 as of yesterday's close.
The Medical - Products industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Abbott Laboratories (ABT): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the latest trading session, Abbott (ABT) closed at $112.71, marking a -1.73% move from the previous day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.62 billion. It is also worth noting that ABT currently has a PEG ratio of 4.13. | ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.62 billion. In the latest trading session, Abbott (ABT) closed at $112.71, marking a -1.73% move from the previous day. It is also worth noting that ABT currently has a PEG ratio of 4.13. | In the latest trading session, Abbott (ABT) closed at $112.71, marking a -1.73% move from the previous day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.62 billion. It is also worth noting that ABT currently has a PEG ratio of 4.13. | In the latest trading session, Abbott (ABT) closed at $112.71, marking a -1.73% move from the previous day. ABT's full-year Zacks Consensus Estimates are calling for earnings of $4.83 per share and revenue of $41.62 billion. It is also worth noting that ABT currently has a PEG ratio of 4.13. |
31592.0 | 2022-06-09 00:00:00 UTC | Top Research Reports for Novo Nordisk, Toyota & Salesforce | ABT | https://www.nasdaq.com/articles/top-research-reports-for-novo-nordisk-toyota-salesforce | nan | nan | Thursday, June 9, 2022
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Novo Nordisk A/S (NVO), Toyota Motor Corporation (TM), and Salesforce, Inc. (CRM). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Novo Nordisk shares have outperformed the Zacks Large Cap Pharmaceuticals industry over the past year (+36.9% vs. +19.3%) on the back of the company’s promising diabetes drug, Ozempic, which is off to a solid start since its launch. The launch of Rybelsus also looks impressive. Novo Nordisk has one of the broadest diabetes portfolios in the industry. Ozempic, Rybelsus, Xultophy and Saxenda have been helping the company maintain momentum. Label expansion of these existing drugs is expected to boost sales.
However, lower realized prices in the United States, loss of exclusivity for products and stiff competition affect sales. Also, sales are being negatively impacted by the COVID-19 pandemic. Also, the supply challenges for Wegovy have hurt the stock. The patent expiry on some of the products in Novo Nordisk’s portfolio is a concern.
(You can read the full research report on Novo Nordisk here >>>)
Toyota shares have declined -7.0% over the past year against the Zacks Automotive - Foreign industry’s decline of -27.3%. The Zacks analyst believes that the company is also reeling under severe chip crunch compounded by the Russia-Ukraine war. The Japanese auto biggie has warned of unprecedented commodity inflation. It expects a sharp increase in material costs to adversely impact the fiscal 2023 income to the tune of ¥1.45 trillion. Supply-chain disruptions, tough labor market, logistical challenges and manufacturing inefficiencies will play spoilsports.
In the light of such headwinds, the company expects its operating income to decline around 20% on a year-over-year basis in fiscal 2023. High Capex and R&D expenses on advanced technologies are also likely to dent near-term margins and cash flows of the company. Further, Toyota's rising debt levels play a spoilsport. Consequently, the stock warrants a bearish stance now.
(You can read the full research report on Toyota here >>>)
Salesforce shares have declined -25.7% over the year-to-date basis against the Zacks Computer - Software industry’s decline of -21.1%. The Zacks analyst believes the stiff competition faced by the company is a concern. Besides, unfavorable currency fluctuations along with increasing investments in international expansions and data centers are an overhang on near-term profitability. Nevertheless, Salesforce is benefiting from a robust demand environment as customers are undergoing a major digital transformation.
The rapid adoption of its cloud-based solutions is driving demand for its products. Salesforce’s sustained focus on introducing more aligned products as per customer needs is driving its top-line. Continued deal wins in the international market is another growth driver. Furthermore, the recent acquisition of Slack would position the company to be a leader in the enterprise team collaboration solution space and better compete with Microsoft’s Teams product.
(You can read the full research report on Salesforce here >>>)
Other noteworthy reports we are featuring today include Abbott Laboratories (ABT), Raytheon Technologies Corporation (RTX), and Equinor ASA (EQNR).
Sheraz Mian
Director of Research
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Novo Nordisk's (NVO) Diabetes Drugs Aid Growth Amid Rivalry
Supply Chain Troubles & Escalating R&D Costs Ail Toyota (TM)
Digital Transformation and Acquisitions Aid Salesforce (CRM)
Featured Reports
Abbott's (ABT) Diabetes Care Business Grows amid Forex Woes
The Zacks analyst is impressed with Abbott's diabetes business arm performance in the first quarter 2022 led by strong growth in FreeStyle Libre. Yet, foreign exchange woes remain a concern.
Order Growth Aids Raytheon (RTX) Amid Purchase Oder Fall
Per the Zacks analyst, a solid order flow from the Pentagon and its foreign allies should boost Raytheon. Yet, purchase order declines due to OEM order cancellation might hurt the stock.
Strong Backlog to Support Caterpillar (CAT) Amid High Costs
Per the Zacks analyst, improving demand in its end markets and robust backlog levels will support Caterpillar's top-line performance and help negate the impact of inflated input costs on its margins.
Intuit (INTU) Rides on Product Refresh, Higher Subscriptions
Per the Zacks analyst, Intuit is benefiting from frequent product refreshes, which help it to gain customers. Moreover, increase in subscriptions is driving stable revenue growth for the company.
Inflows Aid Blackstone's (BX) Asset Growth, High Costs a Woe
Per the Zacks analyst, net inflows, diversified products and revenue mix will likely drive Blackstone's assets under management growth. Higher costs due to investments in franchise might hurt profits.
New Product Development, Wide Market Reach Aid Eaton (ETN)
Per the Zacks analyst Eaton's operations in 175 countries across the world and development of new products through ongoing R&D investments will continue to drive demand and boost profitability.
Wynn Resorts (WYNN) Banks on Non-Gaming Revenues, Traffic Low
Per the Zacks analyst, Wynn Resorts is likely to gain from robust non-gaming business and expansion efforts in domestic markets. However, coronavirus-induced lower visitation in Macau is a concern.
New Upgrades
Equinor (EQNR) to Benefit From Rising Clean Energy Demand
The Zacks analyst is impressed by Equinor's massive investments in renewable projects, comprising solar and wind energy. This makes it well-poised to capitalize on the rising clean energy demand.
Freight Demand, Dividends, Buybacks Aid C.H. Robinson (CHRW)
The Zacks analyst is encouraged by C.H. Robinson's top-line growth owing to strong freight demand. The company's efforts to reward shareholders through dividends and buybacks are also impressive.
Arrow Electronics (ARW) Rides on Solid Product Portfolio
Per the Zacks Analyst, Arrow Electronics' expanding product portfolio across the infrastructure software, next-generation hardware and hybrid cloud architectures spaces, is a key driver.
New Downgrades
Supply Chain Troubles & Higher Costs to Hurt Ciena (CIEN)
Per the Zacks analyst, pandemic induced global supply chain troubles and component shortages is a major concern for Ciena. Higher operating costs are weighing down on margin expansion
Inflation & High Freight Cost to Mar Gap's (GPS) Performance
Per the Zacks analyst, Gap has been witnessing higher freight expense, headwinds at the Old Navy brand, inflationary pressures and sluggishness in China. Due to this, Gap slashed fiscal 2022 view.
Forex Volatility, High Debt Concern Manulife Financial (MFC)
Per the Zacks analyst, Manulife Financial has been witnessing increase in financial leverage over the last few years. Foreign exchange volatility raises financial risk.
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Abbott Laboratories (ABT): Free Stock Analysis Report
Salesforce Inc. (CRM): Free Stock Analysis Report
Toyota Motor Corporation (TM): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Novo Nordisk's (NVO) Diabetes Drugs Aid Growth Amid Rivalry Supply Chain Troubles & Escalating R&D Costs Ail Toyota (TM) Digital Transformation and Acquisitions Aid Salesforce (CRM) Featured Reports Abbott's (ABT) Diabetes Care Business Grows amid Forex Woes The Zacks analyst is impressed with Abbott's diabetes business arm performance in the first quarter 2022 led by strong growth in FreeStyle Libre. (You can read the full research report on Salesforce here >>>) Other noteworthy reports we are featuring today include Abbott Laboratories (ABT), Raytheon Technologies Corporation (RTX), and Equinor ASA (EQNR). Abbott Laboratories (ABT): Free Stock Analysis Report | (You can read the full research report on Salesforce here >>>) Other noteworthy reports we are featuring today include Abbott Laboratories (ABT), Raytheon Technologies Corporation (RTX), and Equinor ASA (EQNR). If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Novo Nordisk's (NVO) Diabetes Drugs Aid Growth Amid Rivalry Supply Chain Troubles & Escalating R&D Costs Ail Toyota (TM) Digital Transformation and Acquisitions Aid Salesforce (CRM) Featured Reports Abbott's (ABT) Diabetes Care Business Grows amid Forex Woes The Zacks analyst is impressed with Abbott's diabetes business arm performance in the first quarter 2022 led by strong growth in FreeStyle Libre. Abbott Laboratories (ABT): Free Stock Analysis Report | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Novo Nordisk's (NVO) Diabetes Drugs Aid Growth Amid Rivalry Supply Chain Troubles & Escalating R&D Costs Ail Toyota (TM) Digital Transformation and Acquisitions Aid Salesforce (CRM) Featured Reports Abbott's (ABT) Diabetes Care Business Grows amid Forex Woes The Zacks analyst is impressed with Abbott's diabetes business arm performance in the first quarter 2022 led by strong growth in FreeStyle Libre. (You can read the full research report on Salesforce here >>>) Other noteworthy reports we are featuring today include Abbott Laboratories (ABT), Raytheon Technologies Corporation (RTX), and Equinor ASA (EQNR). Abbott Laboratories (ABT): Free Stock Analysis Report | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Novo Nordisk's (NVO) Diabetes Drugs Aid Growth Amid Rivalry Supply Chain Troubles & Escalating R&D Costs Ail Toyota (TM) Digital Transformation and Acquisitions Aid Salesforce (CRM) Featured Reports Abbott's (ABT) Diabetes Care Business Grows amid Forex Woes The Zacks analyst is impressed with Abbott's diabetes business arm performance in the first quarter 2022 led by strong growth in FreeStyle Libre. (You can read the full research report on Salesforce here >>>) Other noteworthy reports we are featuring today include Abbott Laboratories (ABT), Raytheon Technologies Corporation (RTX), and Equinor ASA (EQNR). Abbott Laboratories (ABT): Free Stock Analysis Report |
31593.0 | 2022-06-09 00:00:00 UTC | 7 Monkeypox Stocks That May Take Off in Q2 | ABT | https://www.nasdaq.com/articles/7-monkeypox-stocks-that-may-take-off-in-q2 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Once a problem confined to just one continent, Monkeypox is spreading and threatens to become a global issue. Since the United Kingdom first reported a confirmed Monkeypox case on May 7, many more cases have been reported in countries where the virus hasn’t been originally known to be present. Nearly 800 cases have been detected so far, and investors are rightfully researching Monkeypox stocks to buy to position themselves for a potential upside during the second quarter of 2022.
According to the World Health Organization (WHO), Monkeypox is a rare viral disease similar to smallpox but considered clinically less severe. It has been endemic in West Africa and Central Africa. Since it’s a viral disease, vaccination is the best front-line defense. It is widely believed that Smallpox vaccines are adequate for Monkeypox immunity.
Unlike the Covid-19 scenario, when the world was vastly unprepared for a coronavirus outbreak, vaccines are already available for every American citizen should there be a Smallpox outbreak. The vast availability of smallpox vaccines that offer immunity to the Monkeypox virus should limit the upside for Monkeypox stocks in 2022.
However, the resurgence of the disease could activate routine vaccinations across the globe, and Monkeypox vaccine manufacturers could significantly benefit. Routine vaccination against smallpox stopped in 1972 in the United States when the disease was considered eradicated. An individual could require a vaccine once every three years if routine Smallpox/Monkeypox vaccination programs are reactivated.
In a recent Bloomberg interview on the sidelines of the World Economic Forum’s annual meeting in Davos, Moderna’s (NASDAQ:MRNA) CEO was quoted saying the scenario for Monkeypox developing into a pandemic is “close to zero percent.” I hope so, but his company is investigating potential vaccines for the virus. Countries globally are already placing huge orders on one of the Monkeypox vaccine producers identified below, and the company’s stock could continue to surge.
7 High-Yielding Monthly Dividend Stocks to Buy in June
Let’s jump into the list of Monkeypox stocks that may still rise if the outbreak continues this year.
SIGA SIGA Technologies, Inc. $10.90
EBS Emergent BioSolutions Inc. $31.78
CMRX Chimerix, Inc. $1.79
BVNRY Bavarian Nordic A/S $9.80
ABT Abott Laboratories $114.50
INO Inovio Pharmaceuticals, Inc. $1.79
TNXP Tonix Pharmaceuticals Holding Corp. $2.22
Monkeypox Stocks to Watch: SIGA Technologies Inc. (SIGA)
Source: Shutterstock
SIGA Technologies (NASDAQ:SIGA) produces the Tecovirimat SIGA, or TPOXX smallpox vaccine as it’s known in the U.S., SIGA’s vaccine was approved in the United States for the treatment of smallpox in July 2018, and it received European approvals for the treatment of Smallpox, Monkeypox and Cowpox in January 2022.
Following a Monkeypox rally that saw SIGA stock price skyrocket between the first of May and May 27, shares are in consolidation mode after a 13% decline since May 27. Investors speculate on the company’s economic benefits from a potential Monkeypox outbreak, and any new vaccine orders could reignite the speculative rally this month.
Although it has been profitable historically, SIGA has a significantly volatile revenue history. That said, given its good working capital position, no debt in its capital structure and a positive free cash flow generation profile, SIGA stock could outperform if Monkeypox becomes a significant cause for concern enough for governments to increase orders for Tecovirimat and TPOXX.
Emergent BioSolutions Inc. (EBS)
Source: Shutterstock
Emergent BioSolutions (NASDAQ:EBS) produces public health products and therapies for the government and health institutions. It manufactures the ACAM2000 vaccine, one of the only three Smallpox vaccines approved in the United States.
Most of EBS’s revenue and earnings come from U.S. government vaccine purchases, and the company could be one of the best Monkeypox stocks to rise if the virus’ spread goes exponential.
However, the U.S. government claims it has stockpiled enough smallpox vaccines to cover the whole population should there be an outbreak.
Most noteworthy, ACAM2000 is believed to cause severe side effects. It’s possible that a Monkeypox problem in 2022 may not exactly result in a surge in demand for the company’s vaccine.
Interestingly though, Emergent BioSolutions is in the process of acquiring a direct competitor’s smallpox vaccine, TEMBEXA, which was recently approved in 2021. After the acquisition deal, EBS stock will offer investors economic upside exposure to two of three approved Monkeypox vaccines in the United States.
7 Oversold Value Stocks to Buy for June
That said, EBS stock has significantly underperformed the broader market during a market sell-off so far in 2022. Emergent BioSolutions is yet to shrug off investor concerns about its quality controls at production facilities after its $628 million Covid-19 vaccine contract was canceled by President Joe Biden’s Administration recently.
Monkeypox Stocks to Watch: Chimerix Inc. (CMRX)
Source: Mongkolchon Akesin / Shutterstock.com
Chimerix Inc. (NASDAQ:CMRX) developed a smallpox drug, TEMBEXA, that received FDA approval in June last year. It’s currently a Strong Buy-rated biotech stock, but Chimerix stock sold off in May after news broke out that the company is selling its antiviral treatment for smallpox and Monkeypox to Emergent BioSolutions for $225 million, with a potential $100 million worth of milestone payments.
The company’s disposal of its Monkeypox drug assets spooked investors who believe the company has given away a potential cash cow that could have been valuable during a Monkeypox outbreak globally.
On the brighter side, Chimerix will receive 20% royalties on Emergent’s gross profit on U.S. sales of TEMBEXA if EBS sells more than 1.7 million treatment courses before exclusive patents expire, and 15% royalties on international sales.
Most noteworthy, Chimerix’s sale of its Monkeypox asset will boost its poor cash flow position and help finance its Phase 3 study on ONC201, a drug for the treatment of brain tumors.
Bavarian Nordic (BVNRY)
Source: Shutterstock
Danish biotech firm Bavarian Nordic (OTCMKTS:BVNRY) produces a newer type of smallpox vaccine named Jynneos, a potentially safer alternative to Emergent BioSolutions’s ACAM2000 and Chimerix’s TEMBEXA vaccines, which can have severe side effects.
Bavarian Nordic’s smallpox vaccine is approved for smallpox and Monkeypox in the U.S. as JYNNEOS and in Canada as IMVAMUNE. The vaccine is approved in Europe as IMVANEX for smallpox, but has been previously provided for off-label use in Monkeypox cases.
The company is obtaining significantly large orders for its Monkeypox vaccine globally. Since receiving an order from a European government on May 19, Bavarian Nordic subsequently announced a significant contract on May 25 and a number of new contracts on May 30.
Subsequently, management increased the company’s revenue guidance for 2022 by 20% from 1,100-1,400 million DKK ($158-201 million) originally to 1,400-1,600 million DKK ($201-230 million) as Monkeypox vaccine orders accumulate. The company expects narrower losses for 2022 and its cash and cash equivalents guidance has been increased by 14% to 1,200-1,300 million DKK ($172-187 million) at year-end 2022.
The company says it is “ currently in dialogue with several other governments concerning supply of the vaccine to mitigate the current monkeypox outbreak and to explore opportunities for longer term collaboration to build stockpiles for future preparedness.”
7 Cheap Growth Stocks That Won't Stay That Way for Long
There could be more Monkeypox orders in the pipeline.
Monkeypox Stocks to Watch: Abbott Laboratories (ABT)
Source: testing / Shutterstock.com
After reporting a strong 18% organic sales growth during the first quarter, and a 31% adjusted earnings growth, medical devices manufacturer Abbott Laboratories (NYSE:ABT) could see its business sustain double-digit growth rates into the future, and the latest Monkeypox outbreak could offer a new target market.
Abbott Laboratories is working on a polymerase chain reaction (PCR) test to detect the presence of Monkeypox. The company is busy developing a test for Monkeypox that could help the world in the early detection of the disease to contain its spread. It will provide test kits to partners in the Pandemic Defense Coalition (a network of scientific and public health partnerships to identify future pandemic threats).
Although Abbott’s diagnostics division has been the biggest revenue growth contributor accounting for 35% of sales growth in the first quarter of 2022, it’s too early to tell how big a market the PCR test for Monkeypox will become, so attaching a growth estimate from the Monkeypox market opportunity could be speculative guesswork.
That said, the company’s innovative heart health technology, leadership position in global diabetes care and multi-billion-dollar diagnostics unit all combine to generate huge profits and strong positive cash flow to support dividend growth and acquisitions.
Inovio Pharmaceuticals Inc. (INO)
Source: 89stocker / Shutterstock
Inovio Pharmaceuticals Inc. (NASDAQ:INO) is a nano-cap biotechnology stock that could benefit if its smallpox vaccine ever finds its way into the mainstream licensed market. The small company developed a vaccine for smallpox and Monkeypox that showed impressive efficacy in non-human test subjects way back in 2010.
Claims that INO’s smallpox vaccine study offered 100% protection against smallpox in non-human primates could have made investors hopeful that perhaps the vaccine candidate could be worth something as Monkeypox becomes a topical threat to global health. Unfortunately, it appears that Inovio’s Smallpox studies were discontinued.
Nothing has become of Inovio’s pre-clinical vaccine candidate for smallpox and Monkeypox yet. That said, given the speed at which DNA vaccines can come to market, investor interest could be kindled if INO were to resume its Monkeypox and Smallpox vaccine studies.
7 Overlooked Value Stocks to Buy Before Wall Street Catches On
INO stock has plummeted since the company lost the race to a Covid-19 vaccine and the U.S. government withdrew funding. Chances remain, though somewhat slim, for the company’s INO-4800 Covid-19 vaccine candidate to gain traction towards booster status if Covid-19 becomes an endemic disease.
Monkeypox Stocks to Watch: Tonix Pharmaceuticals Holdings Group (TNXP)
Source: motorolka / Shutterstock.com
Tonix Pharmaceuticals Holdings Corp. (NASDAQ:TNXP) is a clinical-stage biopharmaceutical company that is developing potential Smallpox and Monkeypox vaccines based on synthetic biology. The company recently announced the issuance of a U.S. patent for its preclinical-stage vaccine candidate, TNX-801, which could be effective in preventing Smallpox and Monkeypox.
The vaccine was developed in collaboration with the University of Alberta. The U.S patent should provide Tonix with local market exclusivity until 2037. TNX-801 may have lower side effects than current Monkeypox vaccines.
TNXP stock is a highly speculative play on Smallpox and Monkeypox vaccine upside. Although TNXP stock is rated a buy by three Wall Street analysts, the company is a pre-revenue stage pharma stock with no proven track record and an above-average investment risk profile.
Shares have lost 81% of their value so far this year.
On the date of publication, Brian Paradza did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
The post 7 Monkeypox Stocks That May Take Off in Q2 appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | SIGA SIGA Technologies, Inc. $10.90 EBS Emergent BioSolutions Inc. $31.78 CMRX Chimerix, Inc. $1.79 BVNRY Bavarian Nordic A/S $9.80 ABT Abott Laboratories $114.50 INO Inovio Pharmaceuticals, Inc. $1.79 TNXP Tonix Pharmaceuticals Holding Corp. $2.22 Monkeypox Stocks to Watch: SIGA Technologies Inc. (SIGA) Source: Shutterstock SIGA Technologies (NASDAQ:SIGA) produces the Tecovirimat SIGA, or TPOXX smallpox vaccine as it’s known in the U.S., SIGA’s vaccine was approved in the United States for the treatment of smallpox in July 2018, and it received European approvals for the treatment of Smallpox, Monkeypox and Cowpox in January 2022. Monkeypox Stocks to Watch: Abbott Laboratories (ABT) Source: testing / Shutterstock.com After reporting a strong 18% organic sales growth during the first quarter, and a 31% adjusted earnings growth, medical devices manufacturer Abbott Laboratories (NYSE:ABT) could see its business sustain double-digit growth rates into the future, and the latest Monkeypox outbreak could offer a new target market. In a recent Bloomberg interview on the sidelines of the World Economic Forum’s annual meeting in Davos, Moderna’s (NASDAQ:MRNA) CEO was quoted saying the scenario for Monkeypox developing into a pandemic is “close to zero percent.” I hope so, but his company is investigating potential vaccines for the virus. | SIGA SIGA Technologies, Inc. $10.90 EBS Emergent BioSolutions Inc. $31.78 CMRX Chimerix, Inc. $1.79 BVNRY Bavarian Nordic A/S $9.80 ABT Abott Laboratories $114.50 INO Inovio Pharmaceuticals, Inc. $1.79 TNXP Tonix Pharmaceuticals Holding Corp. $2.22 Monkeypox Stocks to Watch: SIGA Technologies Inc. (SIGA) Source: Shutterstock SIGA Technologies (NASDAQ:SIGA) produces the Tecovirimat SIGA, or TPOXX smallpox vaccine as it’s known in the U.S., SIGA’s vaccine was approved in the United States for the treatment of smallpox in July 2018, and it received European approvals for the treatment of Smallpox, Monkeypox and Cowpox in January 2022. Monkeypox Stocks to Watch: Abbott Laboratories (ABT) Source: testing / Shutterstock.com After reporting a strong 18% organic sales growth during the first quarter, and a 31% adjusted earnings growth, medical devices manufacturer Abbott Laboratories (NYSE:ABT) could see its business sustain double-digit growth rates into the future, and the latest Monkeypox outbreak could offer a new target market. Emergent BioSolutions Inc. (EBS) Source: Shutterstock Emergent BioSolutions (NASDAQ:EBS) produces public health products and therapies for the government and health institutions. | SIGA SIGA Technologies, Inc. $10.90 EBS Emergent BioSolutions Inc. $31.78 CMRX Chimerix, Inc. $1.79 BVNRY Bavarian Nordic A/S $9.80 ABT Abott Laboratories $114.50 INO Inovio Pharmaceuticals, Inc. $1.79 TNXP Tonix Pharmaceuticals Holding Corp. $2.22 Monkeypox Stocks to Watch: SIGA Technologies Inc. (SIGA) Source: Shutterstock SIGA Technologies (NASDAQ:SIGA) produces the Tecovirimat SIGA, or TPOXX smallpox vaccine as it’s known in the U.S., SIGA’s vaccine was approved in the United States for the treatment of smallpox in July 2018, and it received European approvals for the treatment of Smallpox, Monkeypox and Cowpox in January 2022. Monkeypox Stocks to Watch: Abbott Laboratories (ABT) Source: testing / Shutterstock.com After reporting a strong 18% organic sales growth during the first quarter, and a 31% adjusted earnings growth, medical devices manufacturer Abbott Laboratories (NYSE:ABT) could see its business sustain double-digit growth rates into the future, and the latest Monkeypox outbreak could offer a new target market. Claims that INO’s smallpox vaccine study offered 100% protection against smallpox in non-human primates could have made investors hopeful that perhaps the vaccine candidate could be worth something as Monkeypox becomes a topical threat to global health. | SIGA SIGA Technologies, Inc. $10.90 EBS Emergent BioSolutions Inc. $31.78 CMRX Chimerix, Inc. $1.79 BVNRY Bavarian Nordic A/S $9.80 ABT Abott Laboratories $114.50 INO Inovio Pharmaceuticals, Inc. $1.79 TNXP Tonix Pharmaceuticals Holding Corp. $2.22 Monkeypox Stocks to Watch: SIGA Technologies Inc. (SIGA) Source: Shutterstock SIGA Technologies (NASDAQ:SIGA) produces the Tecovirimat SIGA, or TPOXX smallpox vaccine as it’s known in the U.S., SIGA’s vaccine was approved in the United States for the treatment of smallpox in July 2018, and it received European approvals for the treatment of Smallpox, Monkeypox and Cowpox in January 2022. Monkeypox Stocks to Watch: Abbott Laboratories (ABT) Source: testing / Shutterstock.com After reporting a strong 18% organic sales growth during the first quarter, and a 31% adjusted earnings growth, medical devices manufacturer Abbott Laboratories (NYSE:ABT) could see its business sustain double-digit growth rates into the future, and the latest Monkeypox outbreak could offer a new target market. The company is busy developing a test for Monkeypox that could help the world in the early detection of the disease to contain its spread. |
31594.0 | 2022-06-06 00:00:00 UTC | U.S. organizes flight from Germany to Texas with Nestle baby formula | ABT | https://www.nasdaq.com/articles/u.s.-organizes-flight-from-germany-to-texas-with-nestle-baby-formula | nan | nan | WASHINGTON, June 6 (Reuters) - The United States has organized a flight to deliver 110,000 pounds of Nestlé infant formula from Germany to Texas on June 9, the White House said on Monday.
The formula, an equivalent of roughly 1.6 million 8-ounce bottles, will be made available nationwide and further announcements of deliveries of Nestle formula would be made in the coming days, it said.
"We aren’t letting up until we solve this problem, and we are working to ensure more safe formula is available on store shelves nationwide," President Joe Biden said in a statement given to Reuters.
(Reporting by Jeff Mason)
((jeff.mason@thomsonreuters.com; +1 202 898 8300; On Twitter: @jeffmason1; Reuters Messaging: jeff.mason.thomsonreuters.com@thomsonreuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, June 6 (Reuters) - The United States has organized a flight to deliver 110,000 pounds of Nestlé infant formula from Germany to Texas on June 9, the White House said on Monday. "We aren’t letting up until we solve this problem, and we are working to ensure more safe formula is available on store shelves nationwide," President Joe Biden said in a statement given to Reuters. (Reporting by Jeff Mason) ((jeff.mason@thomsonreuters.com; +1 202 898 8300; On Twitter: @jeffmason1; Reuters Messaging: jeff.mason.thomsonreuters.com@thomsonreuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, June 6 (Reuters) - The United States has organized a flight to deliver 110,000 pounds of Nestlé infant formula from Germany to Texas on June 9, the White House said on Monday. The formula, an equivalent of roughly 1.6 million 8-ounce bottles, will be made available nationwide and further announcements of deliveries of Nestle formula would be made in the coming days, it said. (Reporting by Jeff Mason) ((jeff.mason@thomsonreuters.com; +1 202 898 8300; On Twitter: @jeffmason1; Reuters Messaging: jeff.mason.thomsonreuters.com@thomsonreuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, June 6 (Reuters) - The United States has organized a flight to deliver 110,000 pounds of Nestlé infant formula from Germany to Texas on June 9, the White House said on Monday. The formula, an equivalent of roughly 1.6 million 8-ounce bottles, will be made available nationwide and further announcements of deliveries of Nestle formula would be made in the coming days, it said. (Reporting by Jeff Mason) ((jeff.mason@thomsonreuters.com; +1 202 898 8300; On Twitter: @jeffmason1; Reuters Messaging: jeff.mason.thomsonreuters.com@thomsonreuters.net)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | WASHINGTON, June 6 (Reuters) - The United States has organized a flight to deliver 110,000 pounds of Nestlé infant formula from Germany to Texas on June 9, the White House said on Monday. The formula, an equivalent of roughly 1.6 million 8-ounce bottles, will be made available nationwide and further announcements of deliveries of Nestle formula would be made in the coming days, it said. "We aren’t letting up until we solve this problem, and we are working to ensure more safe formula is available on store shelves nationwide," President Joe Biden said in a statement given to Reuters. |
31595.0 | 2022-06-06 00:00:00 UTC | U.S. organizes Germany-to-Texas flight with Nestle baby formula | ABT | https://www.nasdaq.com/articles/u.s.-organizes-germany-to-texas-flight-with-nestle-baby-formula | nan | nan | By Jeff Mason
WASHINGTON, June 6 (Reuters) - The United States has organized a flight to deliver 110,000 pounds of Nestlé infant formula from Germany to Texas on June 9, the White House said on Monday.
The formula, an equivalent of roughly 1.6 million 8-ounce bottles, will be made available nationwide and further announcements of deliveries of Nestle formula would be made in the coming days, it said.
"We aren’t letting up until we solve this problem, and we are working to ensure more safe formula is available on store shelves nationwide," President Joe Biden said in a statement given to Reuters.
Biden said nearly 10 million bottles of safe infant formula would be brought into the country to be sold nationwide in the next two weeks.
"There’s more work to do, but we’re making progress and in the past two weeks, infant formula sales broke post-pandemic records," he said.
The shortage of infant formula has become a potent political problem for Biden, who is also struggling to address concerns about high U.S. inflation ahead of the November mid-term elections.
Biden's Operation Fly Formula has delivered 1.5 million "bottle equivalents" of Nestle formula and has arranged to get 8.3 million from Bubs Australia and Kendamil, the White House said.
Families in the United States have struggled to get baby formula in recent months after a February recall of some formulas by one of the nation's main manufacturers, Abbott Laboratories.
(Reporting by Jeff Mason; Editing by David Gregorio)
((jeff.mason@thomsonreuters.com; +1 202 898 8300; On Twitter: @jeffmason1; Reuters Messaging: jeff.mason.thomsonreuters.com@thomsonreuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | "We aren’t letting up until we solve this problem, and we are working to ensure more safe formula is available on store shelves nationwide," President Joe Biden said in a statement given to Reuters. "There’s more work to do, but we’re making progress and in the past two weeks, infant formula sales broke post-pandemic records," he said. The shortage of infant formula has become a potent political problem for Biden, who is also struggling to address concerns about high U.S. inflation ahead of the November mid-term elections. | By Jeff Mason WASHINGTON, June 6 (Reuters) - The United States has organized a flight to deliver 110,000 pounds of Nestlé infant formula from Germany to Texas on June 9, the White House said on Monday. Biden said nearly 10 million bottles of safe infant formula would be brought into the country to be sold nationwide in the next two weeks. Biden's Operation Fly Formula has delivered 1.5 million "bottle equivalents" of Nestle formula and has arranged to get 8.3 million from Bubs Australia and Kendamil, the White House said. | By Jeff Mason WASHINGTON, June 6 (Reuters) - The United States has organized a flight to deliver 110,000 pounds of Nestlé infant formula from Germany to Texas on June 9, the White House said on Monday. The formula, an equivalent of roughly 1.6 million 8-ounce bottles, will be made available nationwide and further announcements of deliveries of Nestle formula would be made in the coming days, it said. Biden's Operation Fly Formula has delivered 1.5 million "bottle equivalents" of Nestle formula and has arranged to get 8.3 million from Bubs Australia and Kendamil, the White House said. | Biden said nearly 10 million bottles of safe infant formula would be brought into the country to be sold nationwide in the next two weeks. The shortage of infant formula has become a potent political problem for Biden, who is also struggling to address concerns about high U.S. inflation ahead of the November mid-term elections. Biden's Operation Fly Formula has delivered 1.5 million "bottle equivalents" of Nestle formula and has arranged to get 8.3 million from Bubs Australia and Kendamil, the White House said. |
31596.0 | 2022-06-06 00:00:00 UTC | The Health Care Select Sector SPDR Fund Experiences Big Inflow | ABT | https://www.nasdaq.com/articles/the-health-care-select-sector-spdr-fund-experiences-big-inflow-0 | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Health Care Select Sector SPDR Fund (Symbol: XLV) where we have detected an approximate $908.7 million dollar inflow -- that's a 2.4% increase week over week in outstanding units (from 292,170,000 to 299,170,000). Among the largest underlying components of XLV, in trading today AbbVie Inc (Symbol: ABBV) is trading flat, Abbott Laboratories (Symbol: ABT) is up about 0.9%, and Danaher Corp (Symbol: DHR) is higher by about 0.8%. For a complete list of holdings, visit the XLV Holdings page » The chart below shows the one year price performance of XLV, versus its 200 day moving average:
Looking at the chart above, XLV's low point in its 52 week range is $121.21 per share, with $143.42 as the 52 week high point — that compares with a last trade of $130.78. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of XLV, in trading today AbbVie Inc (Symbol: ABBV) is trading flat, Abbott Laboratories (Symbol: ABT) is up about 0.9%, and Danaher Corp (Symbol: DHR) is higher by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Health Care Select Sector SPDR Fund (Symbol: XLV) where we have detected an approximate $908.7 million dollar inflow -- that's a 2.4% increase week over week in outstanding units (from 292,170,000 to 299,170,000). These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of XLV, in trading today AbbVie Inc (Symbol: ABBV) is trading flat, Abbott Laboratories (Symbol: ABT) is up about 0.9%, and Danaher Corp (Symbol: DHR) is higher by about 0.8%. For a complete list of holdings, visit the XLV Holdings page » The chart below shows the one year price performance of XLV, versus its 200 day moving average: Looking at the chart above, XLV's low point in its 52 week range is $121.21 per share, with $143.42 as the 52 week high point — that compares with a last trade of $130.78. Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. | Among the largest underlying components of XLV, in trading today AbbVie Inc (Symbol: ABBV) is trading flat, Abbott Laboratories (Symbol: ABT) is up about 0.9%, and Danaher Corp (Symbol: DHR) is higher by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Health Care Select Sector SPDR Fund (Symbol: XLV) where we have detected an approximate $908.7 million dollar inflow -- that's a 2.4% increase week over week in outstanding units (from 292,170,000 to 299,170,000). For a complete list of holdings, visit the XLV Holdings page » The chart below shows the one year price performance of XLV, versus its 200 day moving average: Looking at the chart above, XLV's low point in its 52 week range is $121.21 per share, with $143.42 as the 52 week high point — that compares with a last trade of $130.78. | Among the largest underlying components of XLV, in trading today AbbVie Inc (Symbol: ABBV) is trading flat, Abbott Laboratories (Symbol: ABT) is up about 0.9%, and Danaher Corp (Symbol: DHR) is higher by about 0.8%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Health Care Select Sector SPDR Fund (Symbol: XLV) where we have detected an approximate $908.7 million dollar inflow -- that's a 2.4% increase week over week in outstanding units (from 292,170,000 to 299,170,000). For a complete list of holdings, visit the XLV Holdings page » The chart below shows the one year price performance of XLV, versus its 200 day moving average: Looking at the chart above, XLV's low point in its 52 week range is $121.21 per share, with $143.42 as the 52 week high point — that compares with a last trade of $130.78. |
31597.0 | 2022-06-06 00:00:00 UTC | U.S. organizes Germany-to-Texas flight with Nestle baby formula | ABT | https://www.nasdaq.com/articles/u.s.-organizes-germany-to-texas-flight-with-nestle-baby-formula-0 | nan | nan | By Jeff Mason
WASHINGTON, June 6 (Reuters) - The United States has organized a flight to deliver 110,000 pounds of Nestlé infant formula from Germany to Texas on June 9, the White House said on Monday.
The formula, an equivalent of roughly 1.6 million 8-ounce bottles, will be made available nationwide and further announcements of deliveries of Nestle formula would be made in the coming days, it said.
"We aren’t letting up until we solve this problem, and we are working to ensure more safe formula is available on store shelves nationwide," President Joe Biden said in a statement given to Reuters.
Biden said nearly 10 million bottles of safe infant formula would be brought into the country to be sold nationwide in the next two weeks.
"There’s more work to do, but we’re making progress and in the past two weeks, infant formula sales broke post-pandemic records," he said.
The shortage of infant formula has become a potent political problem for Biden, who is also struggling to address concerns about high U.S. inflation ahead of the November mid-term elections.
Biden's Operation Fly Formula has delivered 1.5 million "bottle equivalents" of Nestle formula and has arranged to get 8.3 million from Bubs Australia and Kendamil, the White House said.
Families in the United States have struggled to get baby formula in recent months after a February recall of some formulas by one of the nation's main manufacturers, Abbott Laboratories.
(Reporting by Jeff Mason; Editing by David Gregorio)
((jeff.mason@thomsonreuters.com; +1 202 898 8300; On Twitter: @jeffmason1; Reuters Messaging: jeff.mason.thomsonreuters.com@thomsonreuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | "We aren’t letting up until we solve this problem, and we are working to ensure more safe formula is available on store shelves nationwide," President Joe Biden said in a statement given to Reuters. "There’s more work to do, but we’re making progress and in the past two weeks, infant formula sales broke post-pandemic records," he said. The shortage of infant formula has become a potent political problem for Biden, who is also struggling to address concerns about high U.S. inflation ahead of the November mid-term elections. | By Jeff Mason WASHINGTON, June 6 (Reuters) - The United States has organized a flight to deliver 110,000 pounds of Nestlé infant formula from Germany to Texas on June 9, the White House said on Monday. Biden said nearly 10 million bottles of safe infant formula would be brought into the country to be sold nationwide in the next two weeks. Biden's Operation Fly Formula has delivered 1.5 million "bottle equivalents" of Nestle formula and has arranged to get 8.3 million from Bubs Australia and Kendamil, the White House said. | By Jeff Mason WASHINGTON, June 6 (Reuters) - The United States has organized a flight to deliver 110,000 pounds of Nestlé infant formula from Germany to Texas on June 9, the White House said on Monday. The formula, an equivalent of roughly 1.6 million 8-ounce bottles, will be made available nationwide and further announcements of deliveries of Nestle formula would be made in the coming days, it said. Biden's Operation Fly Formula has delivered 1.5 million "bottle equivalents" of Nestle formula and has arranged to get 8.3 million from Bubs Australia and Kendamil, the White House said. | Biden said nearly 10 million bottles of safe infant formula would be brought into the country to be sold nationwide in the next two weeks. The shortage of infant formula has become a potent political problem for Biden, who is also struggling to address concerns about high U.S. inflation ahead of the November mid-term elections. Biden's Operation Fly Formula has delivered 1.5 million "bottle equivalents" of Nestle formula and has arranged to get 8.3 million from Bubs Australia and Kendamil, the White House said. |
31598.0 | 2022-06-06 00:00:00 UTC | Abbott Restarts Baby Formula Production At Michigan Plant | ABT | https://www.nasdaq.com/articles/abbott-restarts-baby-formula-production-at-michigan-plant | nan | nan | (RTTNews) - Abbott Nutrition, the largest U.S. infant formula manufacturer, has reopened its baby formula plant in Sturgis, Michigan that was closed after reporting bacterial infections and related deaths in babies.
The resultant major recall of its most popular powder formulas, including Similac, Alimentum, and EleCare, had triggered the severe shortage for infant formula supplies in the United States.
Abbott tweeted, "We're restarting production of our specialty infant formula, EleCare, at our Michigan facility. We understand the urgent need for formula and our top priority is getting high-quality, safe formula in the hands of families."
The production of EleCare and other specialty and metabolic formulas at the plant was restarted after meeting initial requirements agreed to with the U.S. Food and Drug Administration as part of the consent decree entered into on May 16.
Initial EleCare product release to consumers will beginning on or about June 20. The company said it is working to restart production of Similac and other formulas as well.
Abbott had called back millions of powder formulas, including Similac, Alimentum, and EleCare, produced in its manufacturing facility in Sturgis, Michigan after four infants were diagnosed with Cronobacter sakazakii or Salmonella Newport, a rare bacterial infection, and two died.
The plant was closed down, and the investigation report by FDA noted that the facility failed to maintain sanitary conditions and procedures.
But, following the worst shortage of the baby formula products, the FDA in May agreed with Abbott to restart production at the plant, subject to court approval. Abbott then had confirmed that EleCare would be the first formula produced at the Sturgis facility when it restarts production, and other specialty metabolic formulas will closely follow.
The FDA also approved then the release of Abbott's about 300,000 cans of EleCare amino acid-based infant formula previously produced at Abbott Nutrition's Sturgis, Michigan, facility to individuals needing urgent, life-sustaining supplies of this specialty formula on a case-by-case basis. Before the release, the agency said these products would undergo enhanced microbiological testing.
Those EleCare products were not part of Abbott's recent recall, and were in different lots, have never been released and have been maintained in storage under control by Abbott Nutrition.
During the plant closure period, Abbott, in order to mitigate the supply issues, air shipped millions of cans of infant formula powder into the U.S. from FDA-registered facility in Cootehill, Ireland. The company also prioritized infant formula production at Columbus, Ohio, facility, converting other liquid manufacturing lines into manufacturing Similac liquid ready-to-feed.
The Biden Administration also has taken various steps to meet the shortage. Under the third Operation Fly Formula Mission arranged by the U.S. Government, the country is importing more than 8 million bottles of baby food from Australia and the United Kingdom this week.
The FDA, which urged infant formula manufacturers worldwide to import products to the U.S., recently announced the intended availability of around 39.5 million additional bottles of infant formula from Swiss food major Nestle SA starting June through October.
Earlier, British nutrition products maker Kendal Nutricare agreed to send about 2 million cans of infant formula under the Kendamil brand initially to U.S. beginning in June.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott had called back millions of powder formulas, including Similac, Alimentum, and EleCare, produced in its manufacturing facility in Sturgis, Michigan after four infants were diagnosed with Cronobacter sakazakii or Salmonella Newport, a rare bacterial infection, and two died. During the plant closure period, Abbott, in order to mitigate the supply issues, air shipped millions of cans of infant formula powder into the U.S. from FDA-registered facility in Cootehill, Ireland. Earlier, British nutrition products maker Kendal Nutricare agreed to send about 2 million cans of infant formula under the Kendamil brand initially to U.S. beginning in June. | (RTTNews) - Abbott Nutrition, the largest U.S. infant formula manufacturer, has reopened its baby formula plant in Sturgis, Michigan that was closed after reporting bacterial infections and related deaths in babies. Abbott had called back millions of powder formulas, including Similac, Alimentum, and EleCare, produced in its manufacturing facility in Sturgis, Michigan after four infants were diagnosed with Cronobacter sakazakii or Salmonella Newport, a rare bacterial infection, and two died. The FDA also approved then the release of Abbott's about 300,000 cans of EleCare amino acid-based infant formula previously produced at Abbott Nutrition's Sturgis, Michigan, facility to individuals needing urgent, life-sustaining supplies of this specialty formula on a case-by-case basis. | Abbott then had confirmed that EleCare would be the first formula produced at the Sturgis facility when it restarts production, and other specialty metabolic formulas will closely follow. The FDA also approved then the release of Abbott's about 300,000 cans of EleCare amino acid-based infant formula previously produced at Abbott Nutrition's Sturgis, Michigan, facility to individuals needing urgent, life-sustaining supplies of this specialty formula on a case-by-case basis. The FDA, which urged infant formula manufacturers worldwide to import products to the U.S., recently announced the intended availability of around 39.5 million additional bottles of infant formula from Swiss food major Nestle SA starting June through October. | Initial EleCare product release to consumers will beginning on or about June 20. Abbott had called back millions of powder formulas, including Similac, Alimentum, and EleCare, produced in its manufacturing facility in Sturgis, Michigan after four infants were diagnosed with Cronobacter sakazakii or Salmonella Newport, a rare bacterial infection, and two died. The FDA also approved then the release of Abbott's about 300,000 cans of EleCare amino acid-based infant formula previously produced at Abbott Nutrition's Sturgis, Michigan, facility to individuals needing urgent, life-sustaining supplies of this specialty formula on a case-by-case basis. |
31599.0 | 2022-06-05 00:00:00 UTC | Abbott Says Data Show FreeStyle Libre 3 System Most Accurate 14-Day Continuous Glucose Monitor | ABT | https://www.nasdaq.com/articles/abbott-says-data-show-freestyle-libre-3-system-most-accurate-14-day-continuous-glucose | nan | nan | (RTTNews) - Abbott (ABT) said late-breaking clinical data showed the FreeStyle Libre 3 system has an overall mean absolute relative difference (MARD) of 7.9%, making it the first and only 14-day continuous glucose monitoring or CGM system to achieve a sub-8% overall MARD.
MARD is considered the simplest measurement of sensor accuracy and represents the difference between a CGM system's glucose readings and a reference blood glucose measurement. The lower the MARD, the more accurate the CGM system.
Additional data show the positive impact of the FreeStyle Libre system and LibreView app in helping healthcare professionals make earlier treatment decisions and detecting hypoglycemic events.
The multi-center study evaluated the accuracy of the FreeStyle Libre 3 system in people with type 1 or type 2 diabetes, aged 4 or older, who were on insulin therapy. By age group, MARD values were 7.6% for adults (people ages 18 and up) and 8.7% for children ages 6-17.3 For children aged 4-5 years old, MARD value was 10.1%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott (ABT) said late-breaking clinical data showed the FreeStyle Libre 3 system has an overall mean absolute relative difference (MARD) of 7.9%, making it the first and only 14-day continuous glucose monitoring or CGM system to achieve a sub-8% overall MARD. MARD is considered the simplest measurement of sensor accuracy and represents the difference between a CGM system's glucose readings and a reference blood glucose measurement. Additional data show the positive impact of the FreeStyle Libre system and LibreView app in helping healthcare professionals make earlier treatment decisions and detecting hypoglycemic events. | (RTTNews) - Abbott (ABT) said late-breaking clinical data showed the FreeStyle Libre 3 system has an overall mean absolute relative difference (MARD) of 7.9%, making it the first and only 14-day continuous glucose monitoring or CGM system to achieve a sub-8% overall MARD. The multi-center study evaluated the accuracy of the FreeStyle Libre 3 system in people with type 1 or type 2 diabetes, aged 4 or older, who were on insulin therapy. By age group, MARD values were 7.6% for adults (people ages 18 and up) and 8.7% for children ages 6-17.3 For children aged 4-5 years old, MARD value was 10.1%. | (RTTNews) - Abbott (ABT) said late-breaking clinical data showed the FreeStyle Libre 3 system has an overall mean absolute relative difference (MARD) of 7.9%, making it the first and only 14-day continuous glucose monitoring or CGM system to achieve a sub-8% overall MARD. MARD is considered the simplest measurement of sensor accuracy and represents the difference between a CGM system's glucose readings and a reference blood glucose measurement. By age group, MARD values were 7.6% for adults (people ages 18 and up) and 8.7% for children ages 6-17.3 For children aged 4-5 years old, MARD value was 10.1%. | (RTTNews) - Abbott (ABT) said late-breaking clinical data showed the FreeStyle Libre 3 system has an overall mean absolute relative difference (MARD) of 7.9%, making it the first and only 14-day continuous glucose monitoring or CGM system to achieve a sub-8% overall MARD. The lower the MARD, the more accurate the CGM system. The multi-center study evaluated the accuracy of the FreeStyle Libre 3 system in people with type 1 or type 2 diabetes, aged 4 or older, who were on insulin therapy. |
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