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The Latest Breaking News from Abbott Laboratories

Lawmakers Seek Answers From FDA, Abbott On Nationwide Baby Formula Shortage

FDA officials appeared before a congressional panel to answer questions about the crisis after Abbott Laboratories (NYSE: ABT) recalled some baby formula products and closed its manufacturing plant in Sturgis, Michigan.

Benzinga

UK baby milk maker to fly formula to US to help ease shortages

Lake District-based Kendamil steps in after largest producer in US had nationwide recall

The Guardian - UK

Mother sues baby formula producer Abbott for child’s premature death

Suit claims Abbott Laboratories knew formula was risky for preterm infants

The Independent UK

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The baby formula scammers are here

Parents are being exploited by unscrupulous individuals, often in online spaces

Salon

Abbott's Troubled Baby Formula Michigan Plant To Reopen In 1-2 Weeks: Reuters

Abbott Laboratories (NYSE:ABT) and the FDA are reportedly on track to reopen the company's Sturgis, Michigan, baby formula manufacturing plant within one or two weeks, FDA Commissioner Robert Califf said. Abbott, the biggest U.S. supplier of powder infant formula, including Similac, agreed with the FDA on the steps needed to resume production at…

Benzinga

Viewpoint 3: To avoid the next infant formula crisis, make food safety a priority

The Food and Drug Administration has reached an agreement with Abbott Laboratories to resume production at the company’s Sturgis, Michigan, facility. The announcement gives hope of relief for the three-fourths of American parents who rely on infant formula, and have struggled to find the product in recent weeks.

Tribune News Service

How Is The Market Feeling About Abbott Laboratories?

Abbott Laboratories's (NYSE:ABT) short percent of float has risen 5.8% since its last report. The company recently reported that it has 12.79 million shares sold short, which is 0.73% of all regular shares that are available for trading.

Benzinga

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US Lawmakers Reveal FDA Emergency Funds Bill To Tackle Baby Formula Shortage: Reuters

U.S. House Democrats unveiled a bill to provide $28 million in emergency funds to the FDA to help it respond to a shortage of infant formula and strengthen supervision. A House Appropriations Committee said that the funds would provide the FDA with the resources to prevent fraudulent products from being placed on…

Benzinga

Where Abbott Laboratories Stands With Analysts

Analysts have provided the following ratings for Abbott Laboratories (NYSE:ABT) within the last quarter:

Benzinga

US Baby Formula Crisis Could See Some Relief As FDA, Abbott Agree On Deal

The baby formula shortage that has morphed into a crisis in the U.S. could soon see some relief following an agreement between market leader Abbott Laboratories (NYSE: ABT) and the Food and Drug Administration.

Benzinga

Abbott Spent $5B On Stock Buybacks Instead Of Fixing Its Baby Formula Factory

The fear of not knowing where your child’s next meal comes from is something that no parent should face. But, because of a recall of Abbott Laboratories’ (NYSE: ABT) Similac and other popular baby formula brands, stores throughout the nation are limiting how much formula parents can buy.

Benzinga

Baby-formula shortage spurs US to prod Abbott over access

WASHINGTON — The Biden administration on Friday urged Abbott Laboratories to do more to ensure low-income families on federal assistance have access to baby formula, amid a nationwide shortage.

Tribune News Service

Baby formula shortage fueling spike in milk bank interest

The U.S. baby formula shortage has sparked a surge of interest among moms who want to donate breast milk to help bridge the supply gap as well as those seeking to keep their babies fed

The Independent UK

After baby formula recall, Abbott says it can restart production at Michigan site within 2 weeks of FDA approval

Abbott Laboratories said it could have some of its recalled infant formulas back on store shelves within eight to 10 weeks after the U.S. Food and Drug Administration gives its approval, though it’s unclear when that approval may come.

Chicago Tribune

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Tribune News Service

Tainted baby-formula risk was seen months before Abbott’s recall

Federal inspectors spotted the potential for baby formula made at an Abbott Laboratories plant to become contaminated months before a recall that exacerbated a nationwide shortage, a government document shows.

Benzinga

Amid Baby Formula Shortage, Retailers Put Cap On Purchases: Report

The U.S. faced a nationwide shortage of the most popular baby formula brands in the week starting April 24, according to the latest figures from Datasembly, which tracks out-of-stock messages on retailers' websites and apps. An average rate is less than 10%. Reasons For The Shortage: Supply chain issues caused by the COVID-19…

StockNews.com

3 Large-Cap Stocks Rated 'Strong Buy' to Snatch-Up in May

Since the persistent Ukraine-Russia war, rising inflationary pressures, and Fed's upcoming interest rate hikes are expected to keep the stock market volatile in the near term, investors seek opportunities to invest in large-cap stocks, which hold the potential to generate relatively stable returns. So, we think it could be wise…

Benzinga

Here's How Much $100 Invested In Abbott Laboratories 5 Years Ago Would Be Worth Today

Abbott Laboratories (NYSE:ABT) has outperformed the market over the past 5 years by 8.78% on an annualized basis producing an average annual return of 20.13%. Currently, Abbott Laboratories has a market capitalization of $196.98 billion.

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Benzinga

Peering Into Abbott Laboratories's Recent Short Interest

Abbott Laboratories's (NYSE:ABT) short percent of float has fallen 9.21% since its last report. The company recently reported that it has 12.10 million shares sold short, which is 0.69% of all regular shares that are available for trading.

Benzinga

Expert Ratings for Abbott Laboratories

Abbott Laboratories (NYSE:ABT) has observed the following analyst ratings within the last quarter:

Benzinga

Abbott Clocks Q1 COVID-19 Test Sales Of $3.3B, Reaffirms FY22 EPS Outlook

Abbott Laboratories (NYSE:ABT) has reported Q1 FY22 adjusted EPS of $1.73, up 31.1% Y/Y, better than the consensus of $1.47 and the management guidance of $1.50. Q1 sales of $11.9 billion increased 13.8% on a reported basis and 17.5% on an organic basis, beating the consensus of $11.02 billion. Worldwide sales, excluding…

Benzinga

Abbott Laboratories: Q1 Earnings Insights

Abbott Laboratories (NYSE:ABT) reported its Q1 earnings results on Wednesday, April 20, 2022 at 07:30 AM. Here's what investors need to know about the announcement.

Benzinga

If You Invested $1000 In Abbott Laboratories 5 Years Ago, Here's How Much You Would Have Today

Abbott Laboratories (NYSE:ABT) has outperformed the market over the past 5 years by 8.67% on an annualized basis producing an average annual return of 21.94%. Currently, Abbott Laboratories has a market capitalization of $209.78 billion.

Benzinga

Earnings Preview: Abbott Laboratories

Abbott Laboratories (NYSE:ABT) is set to give its latest quarterly earnings report on Wednesday, 2022-04-20. Here's what investors need to know before the announcement. Analysts estimate that Abbott Laboratories will report an earnings per share (EPS) of $1.47.

StockNews.com

Abbott Laboratories vs. Zimmer Biomet Holdings: Which Medical Device Stock is a Better Buy?

The medical devices industry is thriving and the integration of advanced technologies position the industry well for growth. Therefore, prominent players in this space, Abbott Laboratories (ABT) and Zimmer Biomet Holdings (ZBH), should benefit. But which of these stocks is a better buy now? Read more to find out.

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