Name of opportunity: 👀
Abbott Laboratories
Blood sugar levels - without the blood test: 🩸
Abbott Laboratories’ new continuous glucose monitor device, Lingo, is set to be launched as a tool for health conscious people to monitor their blood sugar, for better sleep, alertness, mood and to help them track their metabolism. Abbott’s tool Libre is a very similar device, except marketed towards people with Type 2 diabetes who do not use insulin, and who use lifestyle to manage the condition. For the first time, Libre will be available over the counter without a prescription in the US - as will Lingo. These small wearable devices check your blood sugar without needing to test your blood.
How hot is this investment opportunity? 🔥🔥🔥
Analysts predict the price of Abbott Laboratories will increase from $107.17 to $125.03 in the next 12 months. If you invested $1000, you might profit $165.63. Part of the reason for this prediction is the strength of Abbott’s Q2 results, which exceeded predictions.
‘Lingo’ could be a major product for the company, and while analysts have noted that sales might be slow at first, they see a great deal of potential. In Abbott’s second quarter earnings, it was revealed that FreeStyle Libre (the version that does require a prescription) made $1.6 billion in global sales. Making this technology available over the counter will open it up to anyone who wants to monitor their blood sugar, whether they are a ‘biohacker’ seeking to optimise their health, or whether they want to improve their sports performance.
Abbott also provides dividends, at a dividend yield of 2.08%, paying $2.12 per share in dividends over the last year. If you invested $1000, you would be paid $20.80 a year in dividends. The company has increased its dividend payout for 51 consecutive years, meaning that investors can expect a high chance for it to continue to increase.
In the healthcare and pharmaceuticals industry for 135 years:⚕️
Abbott Laboratories makes products in the fields of diagnostics, medical devices, nutrition and branded generic pharmaceuticals, which are available in over 160 countries. During the pandemic, Abbott was one of the United States’ major producers of COVID-19 Rapid Test Devices. The company has 114,000 employees.
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