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Abbott (ABT) Teams Up With the ADA to Evaluate CGM Systems
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Abbott (ABT - Free Report) recently teamed up with the American Diabetes Association (“ADA”) to launch a therapeutic nutrition program for people with diabetes. The first-of-its-kind project will evaluate how diabetes technology like continuous glucose monitoring (CGM) systems can help people living with diabetes make informed decisions about their food and activity.
For more than 20 years, Abbott and the ADA have collaborated with a shared mission to fight for all those affected by diabetes. By partnering with the ADA, Abbott expects to gather evidence on the potential of its FreeStyle Libre technology providing personalized insights to people about their dietary habits.
News in Detail
An individual’s dietary habits play a pivotal role in glucose control. Nonetheless, person-to-person variations in glycemic response to the same foods make it very challenging to prescribe a universal nutritional plan for diabetes management. Clinical studies have shown that keeping glucose levels steady over time leads to better outcomes for people with diabetes.
Image Source: Zacks Investment Research
Abbott’s CGM systems offer personalized, real-time data on how food and activity affect glucose levels. Over time, research has shown that the data from CGMs allows people with diabetes to learn patterns and create a personalized nutritional plan. This holds the potential to revolutionize diabetes management by providing steady glucose levels in the plan and reducing the risk of diabetes-related complications.
More on the News
Under the collaboration, Abbott is providing a $2.65 million grant over the next three years to the Association. The funds will allow the ADA to engage with healthcare professionals and key opinion leaders to evaluate existing clinical evidence on the use of CGM systems for personalized, therapeutic nutrition.
Other activities will include launching two pilot programs targeted at adults with Type 2 diabetes and conducting roundtable discussions with renowned health care experts to review and evaluate the existing clinical evidence.
Industry Prospects
Per a Research report, the global CGM devices market was valued at $7.82 billion in 2022 and is expected to witness a CAGR of 4.4% by 2030.
Recent Highlights
Of late, Abbott has been reaching headlines for a number of achievements. Its FreeStyle Libre 2 system is the first and only CGM system to be nationally reimbursed in France for people who use basal insulin as part of their diabetes management. ABT’s TactiFlex Ablation Catheter has been approved by the FDA for the treatment of abnormal heart rhythm.
The company’s latest addition to the connected health devices portfolio, Assert-IQ Insertable Cardiac Monitor, received FDA clearance in May.
Price Performance
In the past six months, ABT shares have declined 2% against the industry’s rise of 5.2%.
Penumbra’s stock has surged 170.8% in the past year. The Zacks Consensus Estimate for the company’s earnings per share (EPS) has remained constant at $1.56 for 2023 and $2.56 for 2024 in the past 30 days.
PEN’s earnings beat the consensus mark in all the trailing four quarters, the average surprise being 109.42%. In the last reported quarter, the company registered an earnings surprise of 109.09%.
The Zacks Consensus Estimate for Lantheus’ 2023 EPS has remained constant at $5.60 in the past 30 days. Shares of the company have rallied 30.7% in the past year against the industry’s 22.2% decline.
LNTH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.77%. In the last reported quarter, the company recorded an earnings surprise of 13.95%.
Estimates for Haemonetics’ EPS for 2023 have increased from $3.55 to $3.56 in the past 30 days. Shares of the company have surged 26.1% in the past year against the industry’s 22.2% decline.
HAE’s earnings beat estimates in all the trailing four quarters, the average surprise being 12.21%. In the last reported quarter, Haemonetics delivered an earnings surprise of 13.2%.
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Abbott (ABT) Teams Up With the ADA to Evaluate CGM Systems
Abbott (ABT - Free Report) recently teamed up with the American Diabetes Association (“ADA”) to launch a therapeutic nutrition program for people with diabetes. The first-of-its-kind project will evaluate how diabetes technology like continuous glucose monitoring (CGM) systems can help people living with diabetes make informed decisions about their food and activity.
For more than 20 years, Abbott and the ADA have collaborated with a shared mission to fight for all those affected by diabetes. By partnering with the ADA, Abbott expects to gather evidence on the potential of its FreeStyle Libre technology providing personalized insights to people about their dietary habits.
News in Detail
An individual’s dietary habits play a pivotal role in glucose control. Nonetheless, person-to-person variations in glycemic response to the same foods make it very challenging to prescribe a universal nutritional plan for diabetes management. Clinical studies have shown that keeping glucose levels steady over time leads to better outcomes for people with diabetes.
Image Source: Zacks Investment Research
Abbott’s CGM systems offer personalized, real-time data on how food and activity affect glucose levels. Over time, research has shown that the data from CGMs allows people with diabetes to learn patterns and create a personalized nutritional plan. This holds the potential to revolutionize diabetes management by providing steady glucose levels in the plan and reducing the risk of diabetes-related complications.
More on the News
Under the collaboration, Abbott is providing a $2.65 million grant over the next three years to the Association. The funds will allow the ADA to engage with healthcare professionals and key opinion leaders to evaluate existing clinical evidence on the use of CGM systems for personalized, therapeutic nutrition.
Other activities will include launching two pilot programs targeted at adults with Type 2 diabetes and conducting roundtable discussions with renowned health care experts to review and evaluate the existing clinical evidence.
Industry Prospects
Per a Research report, the global CGM devices market was valued at $7.82 billion in 2022 and is expected to witness a CAGR of 4.4% by 2030.
Recent Highlights
Of late, Abbott has been reaching headlines for a number of achievements. Its FreeStyle Libre 2 system is the first and only CGM system to be nationally reimbursed in France for people who use basal insulin as part of their diabetes management. ABT’s TactiFlex Ablation Catheter has been approved by the FDA for the treatment of abnormal heart rhythm.
The company’s latest addition to the connected health devices portfolio, Assert-IQ Insertable Cardiac Monitor, received FDA clearance in May.
Price Performance
In the past six months, ABT shares have declined 2% against the industry’s rise of 5.2%.
Zacks Rank and Key Picks
Abbott currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the overall healthcare sector are Penumbra (PEN - Free Report) , Lantheus (LNTH - Free Report) and Haemonetics (HAE - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Penumbra’s stock has surged 170.8% in the past year. The Zacks Consensus Estimate for the company’s earnings per share (EPS) has remained constant at $1.56 for 2023 and $2.56 for 2024 in the past 30 days.
PEN’s earnings beat the consensus mark in all the trailing four quarters, the average surprise being 109.42%. In the last reported quarter, the company registered an earnings surprise of 109.09%.
The Zacks Consensus Estimate for Lantheus’ 2023 EPS has remained constant at $5.60 in the past 30 days. Shares of the company have rallied 30.7% in the past year against the industry’s 22.2% decline.
LNTH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.77%. In the last reported quarter, the company recorded an earnings surprise of 13.95%.
Estimates for Haemonetics’ EPS for 2023 have increased from $3.55 to $3.56 in the past 30 days. Shares of the company have surged 26.1% in the past year against the industry’s 22.2% decline.
HAE’s earnings beat estimates in all the trailing four quarters, the average surprise being 12.21%. In the last reported quarter, Haemonetics delivered an earnings surprise of 13.2%.