Abbott falls after Q3 profit forecast disappoints investors

Shares of medical device maker Abbott Laboratories ABT.N fall 7.3% to $122.11 premarket

Abbott forecasts Q3 adj profit between $1.28 and $1.32 per share vs analysts' average estimate of $1.34 per share, according to data compiled by LSEG

Company posts Q2 profit of $1.26 per share compared with analysts' estimate of $1.25 per share

Reports Q2 revenue of $11.1 billion in line with expectations

Its medical device business reports sales of $5.37 billion, above estimates of $5.24 billion

Abbott expects headwind of around $700 million on 2025 sales growth in diagnostics

RBC Capital Markets says it is disappointed with the 2025 outlook, but "believe that 7.5% year on year underlying growth with double-digit EPS growth for the business in Q2 is notable off of its large revenue base with impressive ongoing strength in diabetes"

Leerink Partners sees reasons "to be encouraged with its MedTech segment delivering better-than-expected growth with broad-based strength during the quarter"

Including session's moves, stock up 11.5% YTD