Abbott shares fall despite robust sales of medical devices

Abbott's quarterly medical device sales of $4.45bn (€4.17bn) beat analysts' average estimates

Abbott Laboratories beat analysts' estimates for quarterly profit on robust sales of its medical devices, but the company's shares fell almost 3%, signalling disappointment over its annual forecast.

The medical devices and drugs maker is one of the largest private sector employers in Ireland, with around 5,000 staff spread across multiple sites. Investor expectations around the performance of medical device makers have been heightened since last November after a resurgence in demand, as people, especially older adults, opted for medical procedures deferred during the pandemic.