Abbott forecasts in line annual profit on medical device sales

Edwards Lifesciences

22/01/2025 12:00

Jan 22 (Reuters) - Abbott Laboratories  ABT.N  on
Wednesday forecast annual profit in line with Wall Street
estimates, as it expects elevated medtech-related procedures to
boost demand for its devices, including glucose-monitoring
products.
    Sales of continuous glucose monitors such as Abbott's
FreeStyle Libre and rivals from DexCom  DXCM.O  have been lifted
by increasing diabetes care awareness, bigger insurance coverage
and preference for devices that do not need finger pricks.
    Abbott expects an adjusted profit of $5.05 to $5.25 per
share for 2025, compared with analysts' average profit
expectation of $5.16.
    On an adjusted basis, the company reported a quarterly
profit of $1.34 per share, in line with analysts' average
expectations, according to estimates compiled by LSEG.

 (Reporting by Christy Santhosh and Puyaan Singh in Bengaluru;
Editing by Maju Samuel)
 ((Christy.Santhosh@thomsonreuters.com;))