Abbott Laboratories Raises Its Outlook on Strong Medical Device Sales

Core Insights - Abbott Laboratories reported third-quarter earnings that exceeded profit and sales estimates, driven by strong demand for its medical devices [1][2] - The company raised the midpoint of its full-year earnings forecast, indicating positive momentum heading into the next year [1] - Third-quarter earnings per share (EPS) were 94 cents, with revenue increasing by 4.9% year-over-year to $10.64 billion, surpassing analysts' expectations [1] Medical Devices Sales - Sales of medical devices surged by 11.7% in the third quarter, with notable growth in diabetes care, structural heart, heart failure, and electrophysiology products [2] - Established pharmaceuticals sales saw a slight increase, while diagnostics and nutrition unit sales experienced a minor decline [2] - Abbott's shares rose nearly 2% following the announcement, reflecting a 7% increase since the beginning of the year [2]