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Abbott (ABT) Unveils Connected Diabetes App With New Pact
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Abbott Laboratories, Inc. (ABT - Free Report) and WW International (WW - Free Report) announced the release of a linked app to help patients with diabetes understand how food and activity affect their glucose levels. Members of the WeightWatchers Diabetes-Tailored Plan can now get critical glucose data from Abbott's FreeStyle Libre 2 system via the WW app.
The recent development will bolster Abbott’s Diabetes business.
More on the News
WeightWatchers is the most popular weight-loss program doctors recommend. The WW Diabetes-Tailored Plan has been shown to lower members' haemoglobin A1c by 0.76 points and their diabetes discomfort by 9.8%.
The WW Diabetes-Tailored Plan, created by a team of nutrition and behavioral science specialists at WW, aids people with Type 2 diabetes in developing helpful habits and achieving their health objectives for long-term transformation.
New WW members can link the WW app with the FreeStyle Libre 2 system and take advantage of a free month of the WeightWatchers Diabetes-Tailored Plan until Dec 31, 2023.
Strategic Efforts
Clinical evidence demonstrates that healthy weight loss lowers average glucose, which is crucial for people with diabetes. Both WeightWatchers and Abbott have a long history of promoting healthier lifestyles. Through this collaboration, users of the WW Diabetes-Tailored Plan may use one app to view information backed by the FreeStyle Libre 2 system about how food and activity affect their glucose levels, enabling them to make good lifestyle decisions.
According to the Centers for Disease Control and Prevention, more than 37 million Americans have diabetes, with Type 2 diabetes accounting for almost 90% of those cases. Together, the two reliable brands empower people with Type 2 diabetes to better understand and take charge of their chronic disease, take charge of their health, and still eat the foods they love.
Industry Prospects
Per a Research report, the global continuous glucose monitoring (CGM) devices market was valued at $7.82 billion in 2022 and is expected to witness a CAGR of 4.4% by 2030. Growing cases of diabetes, coupled with the increasing adoption of CGM devices, have been driving the market.
Progress Within CGM System
Of late, Abbott has been reaching the headlines for several achievements. The FreeStyle Libre portfolio is the top sensor-based glucose monitoring system in the world, changing the lives of over 5 million people across more than 60 countries by providing breakthrough technology that is accessible and affordable.
In September 2023, Abbott entered into a definitive agreement to acquire Bigfoot -- a developer of intelligent insulin management systems for people with diabetes. The acquisition will unite two industry leaders in several facets of diabetes care, Support for CGM and insulin injection.
In June 2023, Abbott partnered 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 with diabetes make informed decisions about their food and activity.
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days. It currently carries Zacks Rank #1.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%. It currently carries Zacks Rank #2.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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Abbott (ABT) Unveils Connected Diabetes App With New Pact
Abbott Laboratories, Inc. (ABT - Free Report) and WW International (WW - Free Report) announced the release of a linked app to help patients with diabetes understand how food and activity affect their glucose levels. Members of the WeightWatchers Diabetes-Tailored Plan can now get critical glucose data from Abbott's FreeStyle Libre 2 system via the WW app.
The recent development will bolster Abbott’s Diabetes business.
More on the News
WeightWatchers is the most popular weight-loss program doctors recommend. The WW Diabetes-Tailored Plan has been shown to lower members' haemoglobin A1c by 0.76 points and their diabetes discomfort by 9.8%.
The WW Diabetes-Tailored Plan, created by a team of nutrition and behavioral science specialists at WW, aids people with Type 2 diabetes in developing helpful habits and achieving their health objectives for long-term transformation.
New WW members can link the WW app with the FreeStyle Libre 2 system and take advantage of a free month of the WeightWatchers Diabetes-Tailored Plan until Dec 31, 2023.
Strategic Efforts
Clinical evidence demonstrates that healthy weight loss lowers average glucose, which is crucial for people with diabetes. Both WeightWatchers and Abbott have a long history of promoting healthier lifestyles. Through this collaboration, users of the WW Diabetes-Tailored Plan may use one app to view information backed by the FreeStyle Libre 2 system about how food and activity affect their glucose levels, enabling them to make good lifestyle decisions.
According to the Centers for Disease Control and Prevention, more than 37 million Americans have diabetes, with Type 2 diabetes accounting for almost 90% of those cases. Together, the two reliable brands empower people with Type 2 diabetes to better understand and take charge of their chronic disease, take charge of their health, and still eat the foods they love.
Industry Prospects
Per a Research report, the global continuous glucose monitoring (CGM) devices market was valued at $7.82 billion in 2022 and is expected to witness a CAGR of 4.4% by 2030. Growing cases of diabetes, coupled with the increasing adoption of CGM devices, have been driving the market.
Progress Within CGM System
Of late, Abbott has been reaching the headlines for several achievements. The FreeStyle Libre portfolio is the top sensor-based glucose monitoring system in the world, changing the lives of over 5 million people across more than 60 countries by providing breakthrough technology that is accessible and affordable.
In September 2023, Abbott entered into a definitive agreement to acquire Bigfoot -- a developer of intelligent insulin management systems for people with diabetes. The acquisition will unite two industry leaders in several facets of diabetes care, Support for CGM and insulin injection.
Abbott Laboratories Price
Abbott Laboratories price | Abbott Laboratories Quote
In June 2023, Abbott partnered 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 with diabetes make informed decisions about their food and activity.
Zacks Rank and Other Key Picks
Abbott currently carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) and SiBone (SIBN - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’ stock has risen 19.9% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 in 2023 and $3.96 to $4.07 in 2024 in the past 30 days. It currently carries Zacks Rank #1.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%
Estimates for SiBone’s2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 31% in the past year compared with the industry’s rise of 1.9%. It currently carries Zacks Rank #2.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.