Baxter International Inc

NYSE:BAXUnited States

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• DJ Repeat & Correct: Baxter 3Q Net Slides After North Carolina Factory Shutdown, from 11 hours ago by Dow Jones

  11 hours ago by Dow Jones
  Companies Mentioned: BAX
  
  (Baxter International's third-quarter 2023 net earnings included a gain on the sale of its bio-pharma-solutions contract-manufacturing unit, which was a major factor in its third-quarter 2024 earnings decline. "Baxter 3Q Net Plunges After Kidney-Unit Sale, North Carolina Facility Shutdown," at 7:53 a.m. ET, incorrectly attributed the third-quarter 2024 earnings decline to the sale of its dialysis-machine unit. The correct version follows.)
  

• Evercore ISI Trims Price Target on Baxter International to $45 From $46, from 15 hours ago by MT Newswires

  15 hours ago by MT Newswires
  Companies Mentioned: BAX
  02:24 PM EST, 11/08/2024 (MT Newswires) -- Baxter International (BAX) has an average hold rating and price target range of $30 to $62, according to analysts polled by Capital IQ. (MT Newswires covers equity, commodity and economic research from majo...

• Sector Update: Health Care Stocks Edge Higher Premarket Friday, from 20 hours ago by MT Newswires

  20 hours ago by MT Newswires
  Companies Mentioned: IBB, XLV, BAX, ALVR, DVAX
  09:07 AM EST, 11/08/2024 (MT Newswires) -- Health care stocks were edging higher premarket Friday, with the iShares Biotechnology ETF (IBB) up 0.2% and The Health Care Select Sector SPDR Fund (XLV) 0.1% higher. AlloVir (ALVR) shares were down more t...

• Baxter International Q3 Adjusted Earnings Fall, Net Sales Rise; 2024 Guidance Lowered -- Shares Down Pre-Bell, from 21 hours ago by MT Newswires

  21 hours ago by MT Newswires
  Companies Mentioned: BAX
  08:22 AM EST, 11/08/2024 (MT Newswires) -- Baxter International (BAX) reported Q3 adjusted earnings Friday of $0.80 per diluted share, down from $0.82 a year earlier. Analysts polled by Capital IQ expected $0.78. Total worldwide sales, including dis...

• DJ Baxter 3Q Net Slides After North Carolina Factory Shutdown, from 21 hours ago by Dow Jones

  21 hours ago by Dow Jones
  Companies Mentioned: BAX
  By Rob Curran Medical-device maker Baxter International booked a plunge in third-quarter net income due to the year-earlier effect of a unit divestiture and forecast fourth-quarter adjusted profit more or less flat sequentially, as it endeavored to get a factory back online in the wake of Hurricane Helene. The Deerfield, Ill., maker of hospital supplies and other healthcare items posted third-quarter earnings of $140 million, or 27 cents a share, down from $2.51 billion, or $4.93 a share, a year earlier. In the year-earlier quarter Baxter booked a gain related to the $4.25 billion sale of its bio-pharma solutions unit. In August, Baxter agreed to sell its Kidney Care unit for $3.8 billion to investment firm Carlyle Group. Baxter expects to receive proceeds of about $3.15 billion to $3.25 billion, net of tax. Baxter continues to tighten its focus following the sale of the bio-pharma-solutions unit in May 2023. Stripping out certain one-off items, Baxter logged adjusted earnings of 80 cents a share, topping the average Wall Street peg of 78 cents a share, according to a FactSet tally. Third-quarter sales were $3.85 billion, in line with the average Wall Street target, as per FactSet. For the fourth quarter, Baxter targeted adjusted earnings in a range between 77 cents and 81 cents a share. For 2024, Baxter projected adjusted earnings of $2.90 to $2.94 a share. "While the hurricane's aftermath is expected to have an impact on our near-term financial outlook, we remain confident in Baxter's outlook and growth trajectory following completion of the pending Kidney Care sale," Chairman, President and Chief Executive Jose Almeida said. Hurricane Helene, which hit North Carolina in late September, flooded Baxter's North Cove, N.C., manufacturing facility, leading to a temporary production shutdown. Baxter said it is working to restore production at the facility, but does not have a targeted date for getting it back up to full capacity. The highest output production line at the factory, which makes intravenous equipment, has restarted. That production line accounts for 25% of all production at the factory. Write to Rob Curran at rob.curran@wsj.com Corrections & Amplifications This article was corrected at 6:23 p.m. ET. Baxter International's third-quarter 2023 net earnings included a gain on the sale of its bio-pharma-solutions contract-manufacturing unit, which was a major factor in its third-quarter 2024 earnings decline. The original version incorrectly attributed the third-quarter 2024 earnings decline to the sale of its dialysis-machine unit. (END) Dow Jones Newswires November 08, 2024 07:53 ET (12:53 GMT)