Analysts Reiterate Overweight Rating on Abbott Laboratories following European Approval of Freestyle Libre 3
September 29, 2020 | technology | No Comments
On Monday, J.P. Morgan and Morgan Stanley reiterated their Overweight ratings on Abbott Laboratories (ABT). The company’s newest continuous glucose monitor (CGM), the Freestyle Libre 3, recently received a CE mark of approval. The system has shown to be a major evolutionary improvement over the current Libre 2 which leads analysts to believe that there are multiple long-term growth opportunities for Abbott.
The next-gen Libre CGM, Libre 3 will leverage Bluetooth technology to have continuous, real-time glucose readings automatically delivered to your smartphone every-minute (vs user scanning required in the past) allowing for unsurpassed 14-day accuracy and a ~70% size reduction from the Libre 1 & 2, becoming the world’s smallest and thinnest sensor.
The FreeStyle Libre 3 system was designed to fit perfectly into people’s everyday lives, allowing users to check their glucose as often as they like by just looking on their phones. This innovation allows the users