Latest news with #MarieThibault
Reuters
5 days ago
- Business
- Reuters
Abbott beats estimates on medical devices demand as forecast hits shares
July 17 (Reuters) - Abbott (ABT.N), opens new tab beat Wall Street estimates for second-quarter profit on Thursday, driven by strong demand for its medical devices, including continuous glucose monitors. However, its shares fell 5% premarket after the company's third-quarter earnings forecast fell short of expectations. Abbott projected a profit of between $1.28 and $1.32 per share for the current quarter, below expectation of $1.34. With Abbott shares one of the best year-to-date performers in large and mega-cap medtech, its print needed to be nearly spotless to keep shares moving higher, BTIG analyst Marie Thibault said. In April, Abbott had said it expects President Donald Trump's tariffs to begin impacting results in the third quarter, with an anticipated annual cost of "a few hundred million dollars." Investors will likely watch for any comments on tariffs from executives during the post-earnings call after larger rival Johnson & Johnson (JNJ.N), opens new tab on Wednesday halved its expectations for such costs this year to about $200 million. analyst Robbie Marcus said the company's results balance strong underlying growth trends in diabetes care and heart devices against a muted forecast update. Meanwhile, Abbott said on Thursday it planned to build a manufacturing facility in Georgia by 2028 to support its cardiovascular business, as companies seek to mitigate the tariff impact by moving manufacturing to the U.S. This follows the company's April announcements for manufacturing and research projects in Illinois and Texas, which are expected to go live by the end of the year. Sales of Abbott's continuous glucose monitoring (CGM) devices, which include the FreeStyle Libre series and Lingo, jumped 21.4% to $1.9 billion in the second quarter. CGM makers such as Abbott, Dexcom (DXCM.O), opens new tab and Medtronic (MDT.N), opens new tab are riding a surge in demand as diabetes awareness rises, insurance coverage expands, and patients embrace finger-prick-free technology. Abbott's quarterly revenue came in at $11.14 billion, beating expectations of $11.07 billion, according to data compiled by LSEG. On an adjusted basis, the company reported a profit of $1.26 per share for the second quarter, compared with analysts' average estimate of $1.25.
Business Insider
15-07-2025
- Business
- Business Insider
BTIG maintains iRhythm estimates after CMS fee schedule proposal
BTIG analyst Marie Thibault reiterated a Buy rating and $165 price target on iRhythm (IRTC) Technologies after the Centers for Medicare & Medicaid published its CY26 Physician Fee Schedule Proposal, under which payment rates would be flat for long-term monitoring mobile cardiac telemetry reimbursement would get a low-single digit 'boost.' The proposed payment rate for CPT code 93229 for Zio AT mobile cardiac telemetry in the San Francisco geography was set at $1,083, a 2.7% boost compared to CY25, the analyst tells investors in a research note. The firm said this is a positive surprise since this code has been subject to relatively large cuts in recent years, adding that while the proposed rates are still subject to change, it does not make any changes to its estimates at this time. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with , delivered to your inbox every week.
Yahoo
13-07-2025
- Business
- Yahoo
BTIG Lowers PT on Embecta Corp. (EMBC) to $25, Keeps a Buy Rating
Embecta Corp. (NASDAQ:EMBC) is one of the best cheap stocks with huge upside potential. On May 23, BTIG analyst Marie Thibault lowered the firm's price target on Embecta Corp. (NASDAQ:EMBC) to $25 from $26, keeping a Buy rating on the shares. The rating followed its Investor Day presentation. An assembly line of medical devices being packed for distribution. The analyst told investors in a research note that Embecta Corp. (NASDAQ:EMBC) reaffirmed its FY2025 guidance, with long-range targets offered through fiscal year 2028. In addition, Embecta Corp.'s (NASDAQ:EMBC) lower margin outlook compared to fiscal year 2025 reflects pricing pressure, inflationary headwinds, and incremental tariffs. The firm added that these factors are partially offset by cost improvement programs. Embecta Corp. (NASDAQ:EMBC) provides medical devices used to treat diabetes. The company's offerings include syringes, pen needles, and safety devices fitted with a digital application. While we acknowledge the potential of EMBC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
