Aug 1 (Reuters) - Zimmer Biomet Holdings Inc (ZBH.N) on Tuesday raised its full-year profit forecast, anticipating demand to hold up for its medical devices following a rebound in knee and hip replacement procedures.
Abbott Laboratories (ABT.N) attributed its strong quarter to hospitals addressing bottlenecks from the pandemic while Johnson & Johnson (JNJ.N) said it expected to top profit estimates with surgeries bouncing back.
The company now expects full-year profit of $7.47 to $7.57 per share, compared with its previous forecast of $7.40 to $7.50.
The Indiana-based company's second-quarter revenue rose nearly 5% to $1.87 billion, beating analysts' estimates of $1.83 billion.
Zimmer also expects reported revenue to grow between 6.5% and 7% this year, compared to its prior forecast of between 5% and 6%.
Persons:
Zimmer, Johnson, Jeff Johnson, Mariam Sunny, Sriraj
Organizations:
Zimmer Biomet Holdings, Abbott Laboratories, Baird Equity, Thomson
Locations:
Indiana, Bengaluru