The company now anticipates full-year sales growth between 6.5% and 7%, a sharp reduction from the previous guidance of 8.3% to 9.3%. Adjusted earnings per share are now expected to land between $14.80 and $14.90, retreating from the earlier projection of $15.10. Third-quarter profit dropped to $753 million, or $1.96 per share, down from $859 million during the same period last year.

Adjusted per-share earnings reached $3.52, missing the $3.55 consensus estimate tracked by FactSet. While revenue climbed 7.7% to $6.52 billion, it still fell short of the $6.62 billion analysts had projected. Chief Executive Kevin Lobo noted that despite the quarterly miss, the company maintains a positive outlook for the final quarter and expects sustained momentum entering 2027. Segment performance remained mixed, with MedSurg and Neurotechnology sales rising 9.2% compared to a 5.7% increase in Orthopaedics. This development follows a year marked by operational headwinds, including a significant cyberattack earlier in 2024, and aligns with broader sector softness after competitor Boston Scientific also reported results below market expectations.