UPDATE 3-Swiss Synthes to miss 2009 goal, shares drop

* Q1 sales up 9.6 pct at $805 million vs forecast $846 mln

* Says may miss 2009 growth goal

* Shares tumble to lowest in over 5 yrs

(Adds shares, analyst comment)

By Katie Reid and Sven Egenter

ZURICH, April 28 (Reuters) - Swiss medical device maker Synthes Inc (SYST.VX) warned of a hit to sales as the recession curbs activities like travel and construction, reducing injuries that need its screws and plates to fix broken bones.

Synthes shares plummeted to a more than five-year low after the company missed forecasts with a 9.6 percent rise in first-quarter sales in local currencies and said it may miss its 2009 growth goal.

The economic slump has led to a drop in construction, traffic and leisure activities, meaning there are fewer accidents and less need for the group's products, a Synthes spokesman said.

By 0829 GMT, Synthes shares were down 9.2 percent at 117.00 Swiss francs, having earlier plunged to 113.20 francs, the lowest level in more than five years. They underperformed a flat European health care sector index. .SXDP

"Its North American volumes are not recession-proof, neither is (inflated) U.S. pricing. Both are against expectations and affect its highest-margin market," said Kepler Capital Markets analyst Florian Gaiser.

Until now, Synthes had been able to escape the fallout from the recession, contrasting with other medical technology groups such as dental implant maker Straumann which posted a 2 percent drop in first-quarter sales. [ID:nLR409944]

SALES SHORTFALL

Synthes sales rose to $805 million, falling short of the average estimate of $846 million in a Reuters poll of analysts, as growth slowed in America and the stronger dollar weighed on revenue in Europe.

Synthes, which still expects to grow this year, had been aiming for sales growth at a low-double digit percentage rate in local currencies and for a further improvement in its profitability.

Sales in Europe rose 15.4 percent in local currencies as good snow lured many onto the ski slopes and icy roads also increased the number of accidents. In dollars, sales in the region fell 2.8 percent.

Shares in the group had lost 9.5 percent over the last year, outperforming a near 16 percent drop in the European health care sector index .SXDP and a 26 percent fall in Straumann (STMN.S) shares.

Dental implant makers Straumann and Nobel Biocare (NOBN.VX) have seen demand slump as consumers cut back on non-essential health care spending.

Synthes faced pricing pressure in the United States as well as in Japan in the first quarter, while the mild winter and high unemployment in North Asia also weighed on sales, said the group, which also makes artificial spine discs. (Additional reporting by Oliver Hirt; Editing by Dan Lalor and David Holmes)