Abbott Laboratories May Soon Launch a Game-Changing New Device in the U.S.
Abbott Laboratories (NYSE: ABT) has been a disappointing investment in recent years. While COVID-19 testing gave the business a boost, this has largely been a slow-growing company. And since 2020, the stock is up only 11%, as it offered little to investors beyond just safety and a modest dividend. However, the company's growth prospects could soon get an upgrade, as Abbott Laboratories is looking to offer a product that may appeal to healthy people.
Abbott Laboratories plans to file for approval from the U.S. Food and Drug Administration for a new device, Lingo, which could open up some exciting opportunities for the business. Lingo is a wearable device that tracks glucose levels, and it can also work with an app to give people personalized recommendations related to diet and exercise.
CEO Robert Ford sees this as an opportunity to be proactive and market not only to people who already have health issues, but to those who want to get preventative care and stay on top of their health: "We're going to continue to solve medical problems, but I think we also need to look at the healthy that want to stay healthy and develop products and solutions and services for them."
Source Fool.com
Abbott Laboratories Stock
With 19 Buy predictions and not the single Sell prediction the community is currently very high on Abbott Laboratories.
As a result the target price of 116 € shows a slightly positive potential of 19.38% compared to the current price of 97.17 € for Abbott Laboratories.
