Market Overview

Deutsche Bank Reiterates Hold on Abbott Laboratories Following Release of MitraClip FDA Panel Documents

Share:
Related ABT
10 Technical Levels Discussed On Monday's PreMarket Prep
Mid-Afternoon Market Update: Dow Gains 160 Points; Akari Therapeutics Shares Plummet

In a report published Monday, Deutsche Bank analyst Kristen Stewart reiterated a Hold rating and $33.00 price target on Abbott Laboratories (NYSE: ABT).

In the report, Stewart noted, “The FDA has released panel documents for MitraClip, which will be evaluated by an FDA Circulatory Systems Devices Panel on March 20. The MitraClip device is a minimally invasive catheter-based device used to treat mitral regurgitation. The device received CE Mark in 2008 with sales annualizing ~$120M and has been pending FDA panel review for several years. We've had low expectations for MitraClip in the US and as such, the panel docs do not change our view on the stock. Maintain Hold.”

Abbott Laboratories closed on Friday at $34.14.

Latest Ratings for ABT

DateFirmActionFromTo
Oct 2017BarclaysMaintainsOverweight
Oct 2017CitigroupMaintainsNeutral
Oct 2017Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for ABT
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Reiteration Analyst Ratings

 

Related Articles (ABT)

View Comments and Join the Discussion!

Partner Center