Abbott raises 2026 profit forecast on heart device strength
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Abbott Laboratories ABT | 0.00 | |
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July 16 (Reuters) - Abbott ABT.N raised its annual profit forecast on Thursday, as it expects strong demand for its heart devices in the second half of the year.
The company expects an adjusted profit in the range of $5.45 to $5.60 per share for 2026, compared with its previous forecast between $5.38 and $5.58 per share.
Analysts on average were expecting its annual profit to be $5.49 per share, according to data compiled by LSEG.
Investor confidence in medical device makers has climbed in recent quarters, underpinned by steady demand for heart and diabetes devices.
The company continues to expect sales growth to be between 6.5% and 7.5% for the year.
The medical device maker reported quarterly adjusted profit per share of $1.31, beating analysts' estimate of $1.28.
Total revenue came in at $12.6 billion for the second quarter, compared with expectations of $12.5 billion.