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Abbott Laboratories

5/24/2013, 3:01 AM ET

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Monday, May 20, 4:33 AM Goldman upgrades Abbott Laboratories (ABT) to Buy from Neutral saying H2 business pressures have "resolved into a more positive trajectory" and valuation has become relatively more compelling thanks to the rally in the S&P and increased peer multiples. Price target: $44 from $38. Comment! [Healthcare]
Wednesday, May 15, 6:03 PM Third Point discloses new positions in: Anadarko Petroleum (APC), BE Aerospace (BEAV), Cabot Oil (COG), Chimera Investment (CIM), Hess (HES), Hilshire Brands (HSH), Tiffany (TIF), Thermo Fisher (TMO), and Virgin Media (MMED). It raises stakes in: AbbVie (ABBV) and International Paper (IP), and exits Abbott Labs (ABT), Capital One (COF), Coca-Cola Enterprises (CCE), Herbalife (HLF), Illumina (ILMN), MetLife (MET), Morgan Stanley (MS) and Tesoro (TSO). (13-F) 4 Comments
Monday, May 6, 1:36 PM Merck (MRK -1.3%) gets no love today from the FDA's approval of Liptruxet late Friday, as the stock is likely dragged down with the rest of the big pharma names on the back of a CNBC report that criticizes their earnings so far. The article points to the fact that pharmaceutical companies have seen a 4.7% contraction in earnings, and a 3.2% drop in revenue this quarter. Why? Morningstar's Damien Cover says there are two primary reasons: FX impact, especially from the yen, and intensified generic competition from patent losses. Comment! [Healthcare, On the Move]
Thursday, April 18, 10:25 AM Fresh off Wednesday's earnings call, Abbott Labs (ABT -1.3%) receives FDA approval for its intraocular lens for cataract patients with pre-existing astigmatism. The company says it will launch the lens soon. Comment!
Wednesday, April 17, 8:59 AM More on Abbott Labs (ABT -0.8%) Q1: net profit falls 56% to $544M following its split from AbbVie, which contributed $891M to the bottom line in Q1 2012. Adjusted Q1 2013 EPS from continuing ops +3%. Revenue +1.8% and excluding forex fluctuations +3.5%, boosted by a "strong performance in nutrition and diagnostics, as well as...emerging markets." Forecasts Q2 EPS of $0.43-0.45 vs consensus of $0.44 and FY EPS of $1.98-2.04 vs $2.01. Comment! [Healthcare, Earnings]
Wednesday, April 17, 7:46 AM Abbott Labs (ABT): Q1 EPS of $0.42 beats by $0.02. Revenue of $5.38B misses by $0.04B. (PR) Comment! [Earnings, Breaking News, Healthcare]
Wednesday, April 17, 12:05 AM Notable earnings before Wednesday’s open: ABT, ASML, BAC, BK, DGX, DOV, FCFS, HBAN, MAT, PNC, STJ, TXT Comment! [Earnings]
Tuesday, April 16, 5:30 PM Notable earnings before Wednesday’s open: ABT, ASML, BAC, BK, DGX, DOV, FCFS, HBAN, MAT, PNC, STJ, TXT Comment! [Earnings]
Monday, April 15, 9:25 AM Abbott Laboratories (ABT) recalls FreeStyle InsuLinx Blood Glucose meters, saying that for blood glucose levels of 1,024 milligrams per deciliter or higher, the meter will read far lower than it should which "can lead to a delay in identifying the problem or incorrect treatment." Shares -0.35% premarket. Comment! [Healthcare]
Friday, April 12, 3:00 PM Abbott Laboratories (ABT -0.8%) slips on a tepid Neutral intitiation at Credit Suisse with a price target of $40. The firm says the stock trades in line with its peers, with only modest upside potential relative to its DCF-based target price. Comment! [Healthcare]
Wednesday, April 10, 1:37 PM Jefferies raises its price targets on big pharma names Pfizer (PFE +2.6%) ($33), Merck (MRK +2.7%) ($48), Johnson & Johnson (JNJ +0.7%) ($85), Eli Lilly (LLY +1.4%) ($44), Bristol-Myers Squibb (BMY +0.5%) ($45), AbbVie (ABBV +1.2%) ($50), and Abbot Laboratories (ABT +1.1%) ($42). "We remain positive on pharmaceuticals," Jefferies says, "valuation is attractive for most stocks." 6 Comments [Healthcare]
Wednesday, April 10, 10:31 AM BG Medicine (BGMD +3.6%) trades up after announcing earlier that partner Abbott (ABT +0.2%) has obtained a CE Mark for its Galectin-3 assay run on the Architect immunochemistry platform. The Galectin-3 assay is an indicator that assesses the risk for readmission in heart failure. BGMD is partnering with four diagnostic instrument manufacturers to commercialize automated versions of the test, making it available in several European countries, pending country registration. Comment! [Healthcare, On the Move, Global & FX]
Tuesday, April 2, 4:12 PM Pfizer (PFE), Abbott Labs (ABT) and Novartis (NVS) are preparing to enter second-round bids for for Brazil's Ache Laboratorios Farmaceuticos in an auction that may value the group at over $5B. The bids are due in the second half of April, but divisions among certain families controlling the company still remain, fomenting uncertainty as to whether the deal will go ahead. Comment! [Healthcare, Global & FX]
Monday, March 25, 5:29 AM The Supreme Court is due to hear a "pay for delay" a case today over whether it's legal for drug companies to pay generic rivals tens of millions of dollars to hold off from launching copycat versions of medicines. The case is the FTC vs Actavis (ACT) and involves Abbott Labs' (ABT) AndroGel testosterone treatment. The FTC says the practice costs customers $3.5B a year, while drug firms argue that it protects innovation.
7 Comments [Healthcare, Top Stories]
Thursday, March 21, 8:10 AM An FDA advisory panel has given qualified approval to Abbott's (ABT) minimally invasive MitraClip device for closing up leaky heart valves. The committee voted unanimously that the implant is safe, but only 5-3 that the benefits outweigh the risks and 5-4 against the product being effective. On Monday, FDA staff said there's not enough data to prove MitraClip's effectiveness or safety. Comment! [Healthcare]
Monday, March 18, 10:00 AM Data on Abbott Labs' (ABT) minimally invasive MitraClip for closing up leaky heart valves doesn't prove the safety or effectiveness of the device, FDA staff say ahead of a meeting of an advisory panel on Wednesday. Another trial may provide better data that could support authorization, but the study isn't due to be completed until mid-2019. Comment! [Healthcare]

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