Abbott Laboratories (NYSE:ABT) posted strong Q2 device growth—medical devices up 9%, electrophysiology +14 and Diabetes Care +11—while advancing key studies and approvals (TECTONIC IVL enrollment, PFA/CSP data, Libre Duo CE Mark, Amulet 360 FDA filing) as JPMorgan raises its target.
Previous Week Recap
- Abbott TECTONIC IVL Progress: Abbott (ABT): completed U.S. enrollment in pivotal TECTONIC IVL trial, presented late-breaking PFA/CSP data at HRS, received CE Mark for Libre Duo sensor, submitted Amulet 360 LAA device to FDA.
- Abbott Core Lab, Diagnostics Growth: Abbott (ABT): U.S. core lab sales +7.5%; cancer diagnostics +~13% driven by Cologuard and intl expansion; rapid & molecular diagnostics -8% from weak respiratory season; nutrition modestly beat.
- Abbott Q2 Med_Device Growth: Abbott (ABT) Q2 Medical Devices revenue up 9% reported. Electrophysiology sales rose 14%, aided by pulsed field ablation. Diabetes Care, driven by CGM, grew about 11%.
- JPMorgan Boosts Abbott Outlook: JPMorgan kept Abbott Laboratories (ABT) Overweight and raised its price target from $110 to $120, updating the near-term valuation for the stock.
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