Baxter International Inc. (NYSE:{{7951|BABAX) stock has experienced a notable downturn, touching a 52-week low of $31.6. This recent price level reflects a significant drop from previous valuations, marking a challenging period for the healthcare company. According to InvestingPro data, despite current market pressures, the company maintains a "GOOD" Financial Health score and has maintained dividend payments for an impressive 54 consecutive years. Over the past year, Baxter's stock has seen a decline of 12.88%, indicating a period of bearish sentiment among investors. The company, known for its medical devices and pharmaceuticals, has faced various market pressures that have contributed to the downward trend in its stock price. While 10 analysts have revised their earnings downwards, InvestingPro analysis indicates the company appears undervalued at current levels. Investors and analysts are closely monitoring Baxter's performance and strategic initiatives as the company navigates through these market headwinds. For deeper insights, access the comprehensive Pro Research Report, available exclusively on InvestingPro, covering what really matters about BAX and 1,400+ other top stocks.
In other recent news, Baxter International Inc. reported a 4% increase in year-over-year sales in Q3 2024, hitting $3.85 billion. The company's adjusted earnings per share (EPS) of $0.80 surpassed their guidance, primarily driven by a 7% growth in the Medical (TASE:PMCN) Products & Therapies segment, thanks to high demand for the Novum IQ platform. Despite operational challenges due to Hurricane Helene, Baxter expects resumed production of IV solutions by late November. Baxter also announced the pending sale of their Kidney Care business to Carlyle, expected to close in late 2024 or early 2025.
Furthermore, Baxter International announced board changes, including the resignation of Mr. Peter M. Wilver from its Board of Directors, effective December 31, 2024, and the appointment of Mr. Jeffrey A. Craig as the chairperson of the Audit Committee. These changes reflect Baxter's ongoing governance and oversight processes.
Despite a projected $200 million sales decrease in Q4 due to Hurricane Helene, Baxter anticipates full-year 2024 sales growth at 1% to 2%, with an adjusted EPS of $2.90 to $2.94. The company's executive team remains optimistic about achieving a 4% to 5% top-line growth and an adjusted operating margin of 16.5% in 2025 post-separation from the Kidney Care business. These are recent developments for the company.
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