10 High Profit Margin Stocks to Buy Now

7. Abbott Laboratories (NYSE:ABT)

TTM Net Profit Margin: 31.89%

Number of Hedge Fund Holders: 70

Abbott Laboratories (NYSE:ABT) is one of the high profit margin stocks to buy now. On June 19, Beta Bionics Inc. (NASDAQ:BBNX) announced its plan to integrate its iLet Bionic Pancreas automated insulin delivery/AID system with Abbott’s future dual glucose-ketone sensor in the US. The collaboration aims to enhance real-time decision-making support for individuals with diabetes.

The iLet Bionic Pancreas received FDA clearance in May 2023 and is distinguished as the first and only AID system that autonomously makes 100% of insulin dosing decisions. This eliminates the need for carb counting or manual insulin correction calculations for users, though they still need to be “carb aware.” The system currently supports Abbott’s FreeStyle Libre 3 Plus continuous glucose monitoring sensor, and the new agreement deepens the ongoing partnership between Beta Bionics and Abbott.

The new dual sensor is currently under development and is built on the same form factor as Abbott’s FreeStyle Libre 3 Plus and will continuously monitor both glucose and ketone levels. Ketone monitoring is a crucial advancement as it can help detect early signs of diabetic ketoacidosis, which is a serious complication of diabetes. Abbott’s dual glucose-ketone sensor has received FDA breakthrough device designation.

Abbott Laboratories (NYSE:ABT) discovers, develops, manufactures, and sells health care products. Beta Bionics Inc. (NASDAQ:BBNX) is a commercial-stage medical device company.