Abbott jumps, set for best day since 2002 after lifting profit forecast

ABT•2026-07-16

Abbott shares surge after forecast boost

Shares of medical device maker Abbott Laboratories (ABT.N) were up 11.9% at $99.87, putting the stock on track for its best day since 2002.

A gain of more than 12.5% at the close would mark the biggest one-day jump since at least the 1980s, according to LSEG data.

Higher profit outlook and quarterly results beat estimates

Abbott raised its 2026 adjusted profit forecast to $5.45-$5.60 per share from its prior view of $5.38-$5.58 per share, above analysts' average estimate of $5.49 per share, LSEG data showed.

The company said demand for its heart devices is expected to remain strong in the second half of the year.

Abbott reported second-quarter adjusted profit of $1.31 per share, compared with estimates of $1.28 per share, and quarterly revenue of $12.6 billion, beating expectations of $12.5 billion.

Including the session's move, ABT was down about 18% year to date.