Abbott Raises Guidance, Closes Exact Sciences Deal, Hits Key Milestones
ABT sits 21% above its 52-week low of $81.97 on elevated volume (2.4× avg).
Summary
Abbott raised its full-year adjusted EPS guidance after a Q2 beat, driven by strong diagnostics and diabetes care. The company also closed its $21B Exact Sciences acquisition, adding cancer diagnostics revenue. Enrollment completed for the TECTONIC IVL trial, and regulatory submissions advanced with CE Mark for Libre Duo and FDA submission for Amulet 360. Nutrition sales dipped 3.1% YoY, with US pediatric down 10.7%, but sequential improvement of $127M suggests stabilization. The raised outlook and deal closure signal confidence in the growth pipeline.
At the time of this announcement, ABT was trading at $98.80 on NYSE in the Life Sciences sector, with a market capitalization of approximately $172.1B. The 52-week trading range was $81.97 to $137.49. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.