Option chain shows key data for Baxter Intl's stock options at various strike prices and expiration dates. Traders use this information to analyze potential trades and assess market sentiment for Baxter Intl.

Baxter Intl (NYSE:BAX) Stock, Option Chain

Baxter Intl

Baxter offers a variety of medical supplies and equipment to providers. From its legacy operations, Baxter sells injectable therapies for use in care settings, including IV pumps, administrative sets, and solutions; nutritional products; and surgical sealants and hemostatic agents. Baxter expanded its portfolio of hospital-focused offerings by acquiring Hillrom in late 2021, which added basic equipment like hospital beds, operating room equipment, and patient monitoring tools to the portfolio. Baxter has signed an agreement to sell its kidney care tools by early 2025.

Baxter International

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Only around 12% of Puerto Rico&#39;s residents currently have electricity, according to Luma Energy, the power company servicing the island.

Puerto Rico Blackout: 8 Stocks Affected By Island-Wide Power Outage

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Morgan Stanley upgrades key MedTech stocks, highlighting strong demand and growth potential, while downgrading others amid company-specific challenges.

Morgan Stanley Maintains Positive MedTech Outlook Despite Setbacks in 2024, Upgrades Intuitive Surgical And Stryker, Downgrades Nevro And Glaukos

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Earnings

Guidance

Baxter International&#39;s Q3 2024 adjusted EPS of $0.80 beat estimates, driven by strong Medical Products &amp; Therapies sales and improved supply chain management.

Baxter Expects Hurricane Helene Aftermath To Impact Near-Term Financial Outlook

Baxter International Inc

BABB

The adjusted operating margin guidance does not currently include any impact from the recently announced U.S. tariffs to be implemented on imports from Mexico, Canada and China.&nbsp;
The company is working to quantify the expected impact of these actions, as well as identify potential mitigation opportunities, and plans to provide an update on its fourth-quarter 2024 earnings conference call.

Baxter Remains Committed To Its Previously Announced 2025 Financial Objectives Of 4% - 5% Operational Sales Growth And ~16.5% Adjusted Operating Margin

Baxter Expects Results For Q4 And 2024 To Be Aligned With Continuing Operations Guidance Previously Provided In Q3 Earnings Announcement

Management

Baxter Appoints Heather Knight To The Role Of Executive Vice President And COO, Effective Immediately

Baxter Names Lead Independent Director Brent Shafer As Chair And Interim CEO; José Almeida To Retire As Chair, President And CEO

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>TEVA</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$25.00</td>
<td>$35.5K</td>
<td>6.0K</td>
<td>2.1K</td>
</tr>
<tr>
<td>JNJ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$150.00</td>
<td>$66.4K</td>
<td>7.2K</td>
<td>1.7K</td>
</tr>
<tr>
<td>CVS</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$55.00</td>
<td>$42.0K</td>
<td>3.0K</td>
<td>1.2K</td>
</tr>
<tr>
<td>PFE</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$27.50</td>
<td>$109.6K</td>
<td>31.8K</td>
<td>1.1K</td>
</tr>
<tr>
<td>INMB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$10.00</td>
<td>$25.5K</td>
<td>2.1K</td>
<td>486</td>
</tr>
<tr>
<td>ISRG</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/31/25</td>
<td>$590.00</td>
<td>$45.0K</td>
<td>291</td>
<td>275</td>
</tr>
<tr>
<td>VKTX</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>02/21/25</td>
<td>$30.00</td>
<td>$34.0K</td>
<td>567</td>
<td>261</td>
</tr>
<tr>
<td>SWTX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$35.00</td>
<td>$25.4K</td>
<td>511</td>
<td>220</td>
</tr>
<tr>
<td>BMY</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$62.50</td>
<td>$44.9K</td>
<td>137</td>
<td>189</td>
</tr>
<tr>
<td>BAX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$35.00</td>
<td>$36.8K</td>
<td>68</td>
<td>160</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• Regarding TEVA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEVA#NYSE">TEVA</a>), we observe a call option trade with bearish sentiment. It expires in 354 day(s) on January 16, 2026. Parties traded 163 contract(s) at a $25.00 strike. The total cost received by the writing party (or parties) was $35.5K, with a price of $218.0 per contract. There were 6058 open contracts at this strike prior to today, and today 2167 contract(s) were bought and sold. 
• For JNJ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>), we notice a call option sweep that happens to be bearish, expiring in 25 day(s) on February 21, 2025. This event was a transfer of 200 contract(s) at a $150.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $66.4K, with a price of $336.0 per contract. There were 7225 open contracts at this strike prior to today, and today 1758 contract(s) were bought and sold. 
• Regarding CVS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>), we observe a put option trade with bearish sentiment. It expires in 25 day(s) on February 21, 2025. Parties traded 200 contract(s) at a $55.00 strike. The total cost received by the writing party (or parties) was $42.0K, with a price of $210.0 per contract. There were 3069 open contracts at this strike prior to today, and today 1262 contract(s) were bought and sold. 
• For PFE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>), we notice a call option sweep that happens to be bearish, expiring in 354 day(s) on January 16, 2026. This event was a transfer of 522 contract(s) at a $27.50 strike. This particular call needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $109.6K, with a price of $210.0 per contract. There were 31825 open contracts at this strike prior to today, and today 1191 contract(s) were bought and sold. 
• For INMB (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INMB#NASDAQ">INMB</a>), we notice a call option sweep that happens to be bullish, expiring in 235 day(s) on September 19, 2025. This event was a transfer of 75 contract(s) at a $10.00 strike. This particular call needed to be split into 17 different trades to become filled. The total cost received by the writing party (or parties) was $25.5K, with a price of $340.0 per contract. There were 2116 open contracts at this strike prior to today, and today 486 contract(s) were bought and sold. 
• Regarding ISRG (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), we observe a call option sweep with bearish sentiment. It expires in 4 day(s) on January 31, 2025. Parties traded 200 contract(s) at a $590.00 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $45.0K, with a price of $225.0 per contract. There were 291 open contracts at this strike prior to today, and today 275 contract(s) were bought and sold. 
• For VKTX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VKTX#NASDAQ">VKTX</a>), we notice a put option sweep that happens to be bullish, expiring in 25 day(s) on February 21, 2025. This event was a transfer of 252 contract(s) at a $30.00 strike. This particular put needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $34.0K, with a price of $135.0 per contract. There were 567 open contracts at this strike prior to today, and today 261 contract(s) were bought and sold. 
• For SWTX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWTX#NASDAQ">SWTX</a>), we notice a call option trade that happens to be bearish, expiring in 25 day(s) on February 21, 2025. This event was a transfer of 50 contract(s) at a $35.00 strike. The total cost received by the writing party (or parties) was $25.4K, with a price of $510.0 per contract. There were 511 open contracts at this strike prior to today, and today 220 contract(s) were bought and sold. 
• For BMY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), we notice a put option sweep that happens to be bearish, expiring in 53 day(s) on March 21, 2025. This event was a transfer of 156 contract(s) at a $62.50 strike. This particular put needed to be split into 14 different trades to become filled. The total cost received by the writing party (or parties) was $44.9K, with a price of $288.0 per contract. There were 137 open contracts at this strike prior to today, and today 189 contract(s) were bought and sold. 
• For BAX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>), we notice a call option trade that happens to be bullish, expiring in 718 day(s) on January 15, 2027. This event was a transfer of 80 contract(s) at a $35.00 strike. The total cost received by the writing party (or parties) was $36.8K, with a price of $460.0 per contract. There were 68 open contracts at this strike prior to today, and today 160 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

INMB

SWTX

TEVA

VKTX

10 Health Care Stocks With Whale Alerts In Today's Session

Several companies could be affected by a widespread power outage <a href="https://www.benzinga.com/topic/puerto-rico">Tuesday in Puerto Rico</a>.
What Happened: Only around 12% of Puerto Rico&#8217;s residents currently have electricity, <a href="https://miluma.lumapr.com/outages/serviceStatus">according</a> to Luma Energy, the power company servicing the island.
In a post on X, Luma Energy <a href="https://x.com/lumaenergypr/status/1874081905856885124">said</a> the outage began at 5 a.m. on Tuesday and resulted from &#8220;a fault on an underground line.&#8221; The company gave an estimate of 24 to 48 hours for power to be restored.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Declaraciones (8:30 a.m.): LUMA activa operaciones de emergencia para restaurar la energía después de un apagón en todo el sistema   LUMA ha activado su Centro de Operaciones de Emergencia y actualmente está trabajando con Genera y demás colaboradores de generación para reiniciar…
&mdash; LUMA Puerto Rico (@lumaenergypr) <a href="https://twitter.com/lumaenergypr/status/1874081905856885124?ref_src=twsrc%5Etfw">December 31, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Power outages in Puerto Rico, a U.S. territory, have <a href="https://www.benzinga.com/general/movers-shakers/23/01/30481980/when-a-storm-leaves-you-without-power-for-days-what-do-you-do-yousolar-is-developing-solut">become more prevalent</a> in recent years after Hurricane Maria weakened the island&#8217;s electrical grid. The territory controversially privatized energy generation in 2023, giving control of power operations to Genera PR.
Puerto Rican Governor Pedro Pierluisi&nbsp;voiced displeasure with the companies&#8217; handling of the outage in a <a href="https://x.com/GovPierluisi/status/1874058818612527451">post</a> on X.
&#8220;We are demanding answers and solutions from both LUMA and Genera, who must expedite the restart of the generating units outside the fault area and keep the people duly informed about the measures they are taking to restore service throughout the Island.&#8221;
Companies Affected: LumaEnergy is a joint venture between Quanta Services Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>), an American infrastructure company, and ATCO, a Canadian company. Genera is a subsidiary of New Fortress Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFE#NASDAQ">NFE</a>).
Several other publicly traded companies have operations in Puerto Rico.
Financial services companies Popular Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPOP#NASDAQ">BPOP</a>), OFG Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OFG#NYSE">OFG</a>) and First Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) service the island. Financial technology company Evertec Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVTC#NYSE">EVTC</a>) is based in San Juan.
Medical supply company Baxter International Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) <a href="https://www.baxter.com/perspectives/community-engagement/global-response-hurricane-maria">manufactures</a> MINI-BAG and MINI-BAG Plus container systems in Puerto Rico. Honeywell International Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), a manufacturing conglomerate, also has operations on the island.
Since Tuesday is New Year&#8217;s Eve, companies may be less exposed to the outage, as operations may have wound down due to the holiday. Still, repeated outages may prove harmful to Puerto Rico&#8217;s economy.
Also Read:
<ul>
<li><a href="https://www.benzinga.com/24/12/42737782/us-money-market-funds-hit-record-high-of-675-trillion-does-this-liquid-cash-pile-illustrate-latent-buying-power">US Money Market Funds Hit Record High Of $6.75 Trillion: Does This Liquid Cash Pile Illustrate Latent Buying Power?</a></li>
</ul>
Image: Shutterstock

Baxter Intl's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) short percent of float has fallen 3.35% since its last report. The company recently reported that it has 12.37 million shares sold short, which is 3.17% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.59 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Baxter Intl Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1735062317_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Baxter Intl has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Baxter Intl's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Baxter Intl's peer group average for short interest as a percentage of float is 3.52%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

How Is The Market Feeling About Baxter Intl?

Citigroup analyst Joanne Wuensch maintains Baxter Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) with a Neutral and lowers the price target from $37 to $35.

Price Target

Citigroup Maintains Neutral on Baxter Intl, Lowers Price Target to $35

Last year, Morgan Stanley upgraded its outlook for the U.S. MedTech sector to &#8220;Attractive,&#8221; believing the concerns around GLP-1s were already reflected in stock prices and that fundamentals were strong.
However, this view didn&#8217;t play out as expected, mainly due to unforeseen, company-specific issues, such as DexCom, Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) unexpected <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39988466/dexcom-faces-short-term-challenges-but-market-growth-prospects-remain-strong-analys" rel="noreferrer noopener">Q2 channel mix challenges</a>, Edwards Lifesciences Corporation&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39967649/edwards-lifesciences-stock-tumbles-highlights-slowdown-in-tavr-business" rel="noreferrer noopener">slowdown in TAVR procedures</a>, TransMedics Group, Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMDX#NASDAQ">TMDX</a>) <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41608129/organ-transplant-medtech-transmedics-q3-performance-disappoints-analyst-outlines-in" rel="noreferrer noopener">seasonal impacts</a>, and iRhythm Technologies, Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRTC#NASDAQ">IRTC</a>) <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41462205/with-fda-approval-irhythm-may-be-able-to-lift-regulatory-overhang-investor-skeptici" rel="noreferrer noopener">DOJ investigation</a>.
Morgan Stanley is bullish on the MedTech industry as volumes and pipelines continue to be strong into 2025 despite a shakey 2024.
The analyst also adds that MedTech seems less exposed to potential delays from extended FDA regulatory pathways than other healthcare sectors, given its lower reliance on PMAs and clinical-trial-heavy products.
The analyst adds that while single-stock surprises are inevitable, the overall outlook for the sector heading into 2025 remains favorable.
Morgan Stanley upgraded the outlook on Intuitive Surgical Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) and Stryker Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYK#NYSE">SYK</a>), moving both to Overweight from Equal-weight, citing:
<ul>
<li>ISRG: Strong demand for the Da Vinci Dv5 system is expected to exceed market expectations for <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41406234/intuitive-surgical-posts-q3-earnings-beat-these-analysts-raise-forecasts-on-dv5-upt" target="_blank" rel="noreferrer noopener">installed base growth</a>.</li>
<li>SYK: While orthopedic procedure volumes face some uncertainty, an estimated $1 billion—$2 billion backlog could drive growth in 2025. The company also benefits from ongoing M&amp;A opportunities <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40819730/stryker-unveils-new-foot-ankle-solutions-with-truss-implants-details" target="_blank" rel="noreferrer noopener">and product innovations</a>.</li>
</ul>
Additional updates:
<ul>
<li>Procept BioRobotics Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRCT#NASDAQ">PRCT</a>): Initiated at Overweight, driven by increasing demand and higher pricing for Hydros in operating room efficiency, particularly in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41583831/surgical-robotics-provider-procept-biorobotics-q3-earnings-beats-street-view-analys" target="_blank" rel="noreferrer noopener">lower-volume BPH centers</a>.</li>
<li>Tandem Diabetes Care Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>): Upgraded to Overweight with a $45 price target, as its valuation (below 2x sales) seems overly compressed. Expansion into type 2 diabetes in 2025 could double its <a href="https://www.benzinga.com/news/24/10/41148635/tandem-diabetes-insulin-pump-demand-to-surge-despite-popular-demand-of-weight-loss-drugs-bullish-ana" target="_blank" rel="noreferrer noopener">total addressable market</a>.</li>
<li>Globus Medical Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GMED#NYSE">GMED</a>): Upgraded to Overweight with a $100 price target as merger concerns ease and strong above-market growth persists.</li>
<li>Embecta Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EMBC#NASDAQ">EMBC</a>): Raised to Equal-weight from Underweight, factoring in the discontinuation of certain risks and potential upside from GLP-1 <a href="https://www.benzinga.com/news/24/10/41148635/tandem-diabetes-insulin-pump-demand-to-surge-despite-popular-demand-of-weight-loss-drugs-bullish-ana" target="_blank" rel="noreferrer noopener">pen needle demand</a>.</li>
</ul>
The analyst is more cautious about Glaukos Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GKOS#NYSE">GKOS</a>), downgrading it to Underweight from Equal-weight. The analyst notes that iDose is a strong product with promising long-term potential, but the current valuation limits the upside compared to other stocks. Additionally, although the pipeline includes exciting projects like Wet AMD, they remain <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41752463/glaukos-reports-30-boost-in-glaucoma-sales-improved-margins-in-q3-analyst-highlights-certain-headwi" rel="noreferrer noopener">years away from fruition</a>.
Morgan Stanley has downgraded Nevro Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVRO#NYSE">NVRO</a>) to Underweight from Equal-weight. Despite trading near record lows, the analyst expects weak demand for spinal cord stimulation devices to persist, with limited <a target="_blank" href="https://www.benzinga.com/general/health-care/24/11/41910770/why-medical-device-firm-nevro-stock-is-trading-higher-on-tuesday" rel="noreferrer noopener">opportunities for cost reductions</a>.
The analyst remains cautious about STAAR Surgical Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAA#NASDAQ">STAA</a>). While the company is executing well, it faces tough conditions in the refractive surgery market, particularly in China and the U.S.
Lastly, Morgan Stanley is cautious about Baxter International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) because it offers fewer upside opportunities than peers and has a more conservative outlook <a target="_blank" href="https://www.benzinga.com/general/health-care/24/11/41845345/baxter-expects-hurricane-helene-aftermath-to-impact-near-term-financial-outlook" rel="noreferrer noopener">on operating margins</a>.
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Photo by metamorworks via Shutterstock

FDA Says Baxter Issues Correction For AK 98 Hemodialysis Machines On Risk Of Exposure To Higher Than Allowable Levels Of Toxic Compound; Baxter Is Evaluating Whether Source Of PCBAs And/Or NDL PCBs In Recalls By Other Manufacturers Is Present In Ak 98 Dialysis Machines

Stifel analyst Rick Wise maintains Baxter Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) with a Buy and lowers the price target from $46 to $38.

Stifel Maintains Buy on Baxter Intl, Lowers Price Target to $38

Baxter International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) reported a third-quarter 2024 adjusted EPS of 80 cents, beating the management guidance of 77 cents to 79 cents and the <a href="https://www.benzinga.com/calendars/earnings" target="_blank" rel="noreferrer noopener">Wall Street estimate of 78 cents</a>.
This was driven by top-line strength in Medical Products &amp; Therapies and Kidney Care, continued improvements in the integrated supply chain, and disciplined operating expense management.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/10/41403928/us-hospitals-face-critical-iv-fluid-shortage-after-baxter-facility-shuts-down-due-to-hurricane-hel" rel="noreferrer noopener">US Hospitals Face Critical IV Fluid Shortage After Baxter Facility Shuts Down Due To Hurricane Helene</a>
The Deerfield, Illinois-based company reported sales of $3.85 billion, in line with consensus.
Baxter&#8217;s worldwide sales include continuing sales of $2.69 billion and discontinued operations (kidney care) <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b41840934/baxter-reports-third-quarter-2024-results" rel="noreferrer noopener">sales of $1.15 billion</a>.
Excluding Q3 2023 BioPharma Solutions (BPS) sales and including sales of Kidney Care in both periods, worldwide Baxter sales grew 4% on both a reported and constant currency basis, in line with the company&#8217;s prior guidance.
Adjusted EPS from continuing operations was 49 cents, up 14% year-over-year.
Revenue from Medical Products &amp; Therapies increased 7% to $1.34 billion, Healthcare Systems &amp; Technologies sales increased 1% to $752 million, and Pharmaceuticals sales were up 1% to $588 million.
Last week, Baxter said it has restarted North Cove&#8217;s highest-throughput IV solutions manufacturing line.
At its peak operation (before Hurricane Helene), this line represented approximately 25% of the site&#8217;s total production and approximately 50% of the site&#8217;s production of one-liter IV solutions, the most commonly used size by hospitals and clinics.
Baxter&#8217;s current expectation is that new product from North Cove could begin shipping to distributors and customers by the end of November, ahead of its original expectations.
Guidance: &#8220;While the hurricane&#8217;s aftermath is expected to have an impact on our near-term financial outlook, we remain confident in Baxter&#8217;s outlook and growth trajectory following completion of the pending Kidney Care sale,&#8221; said José (Joe) Almeida, chair, president &amp; CEO.
Baxter expects fourth-quarter adjusted EPS of 77 cents to 81 cents, with 50 cents to 53 cents expected from continuing operations.
For the fourth quarter, the company forecasts sales from continuing operations to decline in low-single digits on a reported and constant currency basis.
For fiscal year 2024, Baxter sees adjusted EPS of $2.90-$2.94 compared to a consensus of $2.95 and <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40191263/baxter-lifts-annual-outlook-after-strong-q2-beat-medical-devices-sales" rel="noreferrer noopener">prior guidance of $2.93-$3.01</a>, including $1.81-$1.84 from continuing operations.
The company <a target="_blank" href="https://s22.q4cdn.com/911189824/files/doc_financials/2024/q3/Baxter_Reports_Third-Quarter_2024_Results_Presentation.pdf" rel="noreferrer noopener">expects</a> sales (from continuing operations) growth of around 2%.
Baxter anticipates a full-year 2025 adjusted operating margin of approximately 16.5% on a continuing operations basis, which reflects an anticipated 100 basis point negative impact due to stranded costs. The company expects to offset these stranded costs in 2027.
Price Action: BAX stock is down 1.22% at $35.60 during the premarket session at last check Friday.
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WIIM

Baxter International shares are trading lower after the company issued FY24 adjusted EPS guidance slightly below analyst expectations.

Baxter International Sees FY24 Adj. EPS $2.90-$2.94 Vs $2.95 Est.

Baxter International Sees Q4 Adj. EPS $0.77-$0.81

Baxter Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) reported quarterly earnings of $0.80 per share which beat the analyst consensus estimate of $0.78 by 2.56 percent. The company reported quarterly sales of $3.850 billion which beat the analyst consensus estimate of $3.847 billion by 0.08 percent. This is a 3.83 percent increase over sales of $3.708 billion the same period last year.

Earnings Beats

Baxter Intl Q3 2024 Adj. EPS $0.80 Beats $0.78 Estimate, Sales $3.850B Beat $3.847B Estimate

Baxter Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) is preparing to release its quarterly earnings on Friday, 2024-11-08. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Baxter Intl to report an earnings per share (EPS) of $0.78.
Baxter Intl bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
The company's EPS beat by $0.02 in the last quarter, leading to a 0.89% drop in the share price on the following day.
Here's a look at Baxter Intl's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.66</td>
<td>0.61</td>
<td>0.86</td>
<td>0.68</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.68</td>
<td>0.65</td>
<td>0.88</td>
<td>0.82</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.0%</td>
<td>-0.0%</td>
<td>-2.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730991682_0.png" alt="eps graph" />
<h3>Performance of Baxter Intl Shares</h3>
Shares of Baxter Intl were trading at $36.11 as of November 06. Over the last 52-week period, shares are up 8.5%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<h3>Analyst Views on Baxter Intl</h3>
For investors, staying informed about market sentiments and expectations in the industry is paramount. This analysis provides an exploration of the latest insights on Baxter Intl.
Baxter Intl has received a total of 1 ratings from analysts, with the consensus rating as Neutral. With an average one-year price target of $40.0, the consensus suggests a potential 10.77% upside.
<h3>Peer Ratings Comparison</h3>
In this analysis, we delve into the analyst ratings and average 1-year price targets of Hologic, Insulet and Zimmer Biomet Holdings, three key industry players, offering insights into their relative performance expectations and market positioning.
<ul>
<li>As per analysts' assessments, Hologic is favoring an Neutral trajectory, with an average 1-year price target of $88.67, suggesting a potential 145.56% upside.</li>
<li>The prevailing sentiment among analysts is an Buy trajectory for Insulet, with an average 1-year price target of $260.22, implying a potential 620.63% upside.</li>
<li>The consensus outlook from analysts is an Neutral trajectory for Zimmer Biomet Holdings, with an average 1-year price target of $119.27, indicating a potential 230.3% upside.</li>
</ul>
<h3>Peer Analysis Summary</h3>
The peer analysis summary offers a detailed examination of key metrics for Hologic, Insulet and Zimmer Biomet Holdings, providing valuable insights into their respective standings within the industry and their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Baxter Intl</td>
<td>Neutral</td>
<td>2.83%</td>
<td>$1.43B</td>
<td>-3.97%</td>
</tr>
<tr>
<td>Hologic</td>
<td>Neutral</td>
<td>-2.32%</td>
<td>$560.30M</td>
<td>3.54%</td>
</tr>
<tr>
<td>Insulet</td>
<td>Buy</td>
<td>23.20%</td>
<td>$330.90M</td>
<td>21.08%</td>
</tr>
<tr>
<td>Zimmer Biomet Holdings</td>
<td>Neutral</td>
<td>4.03%</td>
<td>$1.29B</td>
<td>1.98%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Baxter Intl ranks in the middle among peers for consensus rating. It ranks at the bottom for revenue growth. It ranks at the top for gross profit. It ranks at the bottom for return on equity.
<h3>About Baxter Intl</h3>
Baxter offers a variety of medical instruments and supplies to caregivers. It enhanced its portfolio of hospital-focused offerings by acquiring Hillrom in late 2021, which added basic equipment, including hospital beds, to the portfolio, although about half of Hillrom's revenue comes from more digitally connected offerings like its smart beds and Voalte medical communications app. From its legacy operations, Baxter sells a variety of injectable therapies for use in care settings, such as IV pumps, administrative sets, and solutions; nutritional products; and surgical sealants and hemostatic agents. It has signed an agreement to sell its kidney care segment by early 2025.
<h3>Financial Insights: Baxter Intl</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Baxter Intl's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 2.83% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Health Care sector.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of -8.24%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): Baxter Intl's ROE is below industry standards, pointing towards difficulties in efficiently utilizing equity capital. With an ROE of -3.97%, the company may encounter challenges in delivering satisfactory returns for shareholders.
Return on Assets (ROA): Baxter Intl's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -1.16%, the company may face hurdles in achieving optimal financial performance.
Debt Management: With a high debt-to-equity ratio of 1.75, Baxter Intl faces challenges in effectively managing its debt levels, indicating potential financial strain.
<a href="https://www.benzinga.com/quote/BAX/earnings">To track all earnings releases for Baxter Intl visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Uncovering Potential: Baxter Intl's Earnings Preview

<a href="https://www.baxter.com/baxter-newsroom/hurricane-helene-updates#:~:text=Based%20on%201">https://www.baxter.com/baxter-newsroom/hurricane-helene-updates#:~:text=Based%20on%201</a>
&nbsp;
Baxter's North Cove manufacturing site was significantly impacted by the rain and storm surge from Hurricane Helene, which was unprecedented in Western North Carolina and resulted in water flooding the facility.&nbsp;
Supporting our employees in the impacted communities, bringing the North Cove facility back online and helping to ensure ongoing supply to patients are our top priorities. &nbsp;
"Recovery progress at our North Cove site continues to be very encouraging. In a matter of weeks, our team has advanced from the depths of Hurricane Helene's impact to restarting our highest-throughput manufacturing line. This is a pivotal milestone, but more hard work remains as we work to return the plant to full production. I want to recognize the dedication of our North Cove team as well as the countless Baxter employees globally who have committed themselves to helping contribute to supply continuity amid this unprecedented challenge. I also offer Baxter's gratitude for the steadfast support of ASPR, FDA, the State of North Carolina and HHS. And we are deeply appreciative of our customers' patience and partnership as progress continues."&nbsp;
-- José (Joe) E. Almeida, chair, president and chief executive officer&nbsp;
&nbsp;
Below are the latest updates in each area:&nbsp;
Employees and Community: We salute our North Cove team, who are fueling our recovery while continuing to navigate the storm's personal toll.&nbsp;
<ul>
<li>All 2,500+ North Cove employees have been accounted for following Hurricane Helene. Employees are returning to work at pre-hurricane staffing levels, working alongside remediation contractors that have been engaged on a temporary basis for site recovery. &nbsp;</li>
<li>Our local colleagues are simultaneously continuing to navigate the storm's devastating personal and community impact. Baxter continues to offer critical employee assistance through a range of initiatives: &nbsp;
<ul>
<li>NEW: The Baxter International Foundation has donated ~$4 million to support employees and communities impacted by Hurricane Helene, including $1.5 million in grants to three humanitarian partners and nearly $2.5 million in funding to employees through Baxter's Employee Disaster Relief Fund.&nbsp;</li>
<li>An employee support center provides basic supplies, such as food, water, and toiletries, as well as access to portable generators, showers, laundry machines, credit union services, and laptop workstations with internet access. &nbsp;</li>
<li>Colleagues at multiple Baxter sites across the U.S. have initiated clothing drives to collect cold weather gear and other items for delivery to the North Cove team. &nbsp;</li>
</ul>
</li>
</ul>
Facilities and Infrastructure: As previously shared, and in coordination with FDA, our goal remains to begin resuming North Cove production in phases by the end of this year. &nbsp;
<ul>
<li>NEW: We are pleased to announce that Baxter has restarted the highest-throughput IV solutions manufacturing line. At its peak operation (prior to Hurricane Helene), this line represented approximately 25% of the site's total production and approximately 50% of the site's production of one-liter IV solutions, the most commonly used size by hospitals and clinics. &nbsp;
<ul>
<li>Initial batches will be manufactured concurrently with ongoing quality activities and would only be released in accordance with applicable regulatory requirements to ensure the quality and safety of the products. &nbsp;</li>
<li>It is important to note that the earliest that new North Cove product could start to ship is late November. This is ahead of our original expectations and a testament to the urgency, diligence and resiliency of the North Cove and broader Baxter teams as we've worked to accelerate recovery, with the coordination of FDA, ASPR and HHS.&nbsp;</li>
<li>Assessment and repair of equipment with phased testing continues to progress across all other production lines, which will, in coordination with FDA, support resumption of operations in phases.&nbsp;</li>
<li>We do not yet have a timeline for when we expect North Cove production to be fully restored to pre-hurricane levels.&nbsp;</li>
</ul>
</li>
<li>NEW: Our first temporary bridge has already transported more than 885 truckloads of finished product off site and to customers. &nbsp;
<ul>
<li>We continue to make progress on the second temporary bridge being installed at the site, thanks to the support of ASPR, North Carolina Department of Transportation and our local team. This bridge, currently estimated to be completed in early November, will enable additional truck and equipment traffic to enter and leave the site.&nbsp;</li>
</ul>
</li>
</ul>
Supply Continuity: We are grateful for the ongoing partnership and efforts of our customers as we navigate this complex and challenging situation to prioritize patient care.&nbsp;
<ul>
<li>Global Manufacturing Network: To date, we have activated nine plants across our global network to help increase available inventory, which is contemplated in current allocation levels. &nbsp;</li>
<li>U.S. Expiry Extensions for IV and Irrigation Products: Baxter has received FDA authorization to extend the use dates of 50+ IV and irrigation codes to provide up to an additional 12 months of expiry. Products now have a 24-month expiry period from the date of manufacture. This extension only applies to products manufactured prior to the end of September 2024. Details have been communicated directly to customers.&nbsp;</li>
<li>U.S. Distribution for Products Authorized for Temporary Importation: Baxter has communicated to customers its distribution plans for products authorized for temporary importation. We are carefully managing the availability of both previously finished goods coming out of North Cove and the import of product to the U.S., providing specific resources and training to those customers receiving product imported to the U.S.&nbsp;</li>
<li>Conservation: Conservation efforts for IV and PD solutions across the healthcare system remain essential to supplement allocation levels and help preserve supply, and we are grateful for our customers' efforts in this area. Our Medical Affairs team is offering support and resources for product management and conservation strategies. <a href="https://meded.baxter.com/hurricane-helene-resources">Visit our clinical webpage</a> for more information. &nbsp;</li>
<li>IV Solutions Allocations: &nbsp;
<ul>
<li>In the U.S., allocation levels for both direct customers and distributors remain as previously communicated by Baxter on Oct. 9th. &nbsp;</li>
<li>Based on 1) the current status of our North Cove remediation efforts, 2) our expectations regarding our ability to reallocate capacity from other Baxter facilities, and 3) temporary importation on certain products, our goal remains to return to 90% to 100% allocation of certain IV solution product codes for U.S. customers by the end of 2024.&nbsp;</li>
</ul>
</li>
<li>NEW: U.S. PD Patient Starts: We have begun to expand our support for new peritoneal dialysis (PD) patients on a limited basis, beyond the highly restricted medical exceptions to date, to help providers address urgent medical needs. The volume of new patients should continue to increase in the coming weeks, with the goal of returning to pre-Hurricane Helene levels for new patient starts by the end of the year.&nbsp;</li>
<li>PD Solutions Allocations and Ongoing Patient Support:&nbsp;
<ul>
<li>We are closely partnering with the kidney community, including physicians, nurses and care teams, to enhance our support for patients. This includes working to improve the ordering and delivery process to help reduce wait times and increase the accuracy of our target delivery dates and times. We are grateful to have excellent provider partners, who have been agile and proactive in helping us meet patient needs while conserving supply. Because PD patients have individualized prescriptions, this has allowed for some additional flexibility in our ongoing ability to support them within the allocation protocols already put in place. &nbsp;</li>
<li>While the allocations for PD solutions in the U.S. currently remain as communicated with patients and clinicians, thanks to FDA's recent temporary importation authorizations, we are temporarily importing additional product into the U.S. to help support supply. We will be providing training and education materials in the first part of November so that patients and care teams can prepare to use these imported PD solutions. Our global footprint and quality standards have allowed us to rapidly respond and shift supply accordingly, to help address the needs of existing and new patients in the U.S.&nbsp;</li>
</ul>
</li>
</ul>

Baxter Gives Hurricane Helene Updates; Baxter Has Restarted The Highest-throughput IV Solutions Manufacturing Line

<a href="https://www.baxter.com/baxter-newsroom/hurricane-helene-updates#:~:text=Based%20on%201" title="https://www.baxter.com/baxter-newsroom/hurricane-helene-updates#:~:text=Based%20on%201">https://www.baxter.com/baxter-newsroom/hurricane-helene-updates#:~:text=Based%20on%201</a>

Baxter Says Anticipates Restarting Highest-Throughput IV Solutions Manufacturing Line Within Next Week; FDA Authorized Temporary Importation For Variety Of Product Codes From 2 Additional Baxter Manufacturing Facilities, In Thailand & Singapore; Goal Remains To Return To 90% To 100% Allocation Of Some IV Solution Product Codes For U.S. Customers By 2024 End

The United States is facing a significant shortage of intravenous (IV) fluids, including saline and dextrose solutions, exacerbated by damage to Baxter International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAX#NYSE">BAX</a>) plants in North Carolina <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/10/41340376/baxters-north-carolina-plant-recovery-underway-after-hurricane-flooding-starts-product-imports" rel="noreferrer noopener">due to Hurricane Helene</a>.
These essential fluids, already in limited supply before the hurricane, are critical for various medical treatments, such as hydration, wound cleaning, and dialysis.
The closure of Baxter&#8217;s plant, which produces about 60% of the country&#8217;s IV fluids, has intensified the scarcity, leaving hospitals struggling to <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41257734/baxters-north-carolina-facility-manufactures-60-of-iv-fluids-and-peritoneal-dialysis-solutions-s" rel="noreferrer noopener">maintain adequate supplies</a>.
An NBC <a href="https://www.nbcnews.com/health/health-news/long-helene-iv-fluid-shortages-plagued-hospitals-rcna175563">report </a>noted that years before the hurricane, the U.S. was already experiencing shortages of IV fluids, according to the FDA.
Saline solution has been in short supply since 2018, sterile water since 2021, and dextrose solution since early 2022.
The hurricane worsened the situation, adding lactated Ringer&#8217;s solution and peritoneal dialysis fluids to the list of shortages.
This shortage is a critical issue as hospitals depend on these fluids for life-saving treatments, and they are challenging to produce due to high regulatory standards and the delicate sterilization process involved.
Erin Fox, senior pharmacy director at the University of Utah Health, told NBC that the low profitability of manufacturing these fluids has deterred companies from entering the market.
IV fluids require significant space and resources to produce and store, and their relatively low cost creates little financial incentive for drugmakers.
Speaking to NBC, Michael Ganio, senior director of pharmacy practice at the American Society of Health-System Pharmacists, added that controlling endotoxins, harmful bacteria resistant to sterilization, further complicates the production process.
In response to the crisis, the federal government has invoked the Defense Production Act, enabling Baxter to secure priority access to materials necessary to rebuild its North Carolina facility.
The FDA has also allowed Baxter to temporarily import IV fluids from plants in Canada, China, Ireland, and the U.K. Despite these efforts, Baxter expects to meet only 90% of its customers&#8217; needs by the end of the year.
The shortage affects hospitals, with many postponing elective surgeries due to insufficient IV fluid supplies.
Citing some analysts, Reuters highlighted that the impact on medical device manufacturers, such as Boston Scientific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>) and Edwards Lifesciences (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>), will be minimal if the shortage is resolved by early next year.
However, the situation remains concerning for hospital operators like HCA Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>) and Tenet Healthcare (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>), as delays in surgeries could affect their revenues.
Baxter <a target="_blank" href="https://www.baxter.com/baxter-newsroom/hurricane-helene-updates" rel="noreferrer noopener">announced</a> that the first FDA-authorized product shipments for temporary importation are set to arrive in the U.S. this weekend.
In collaboration with the ASPR, the company estimates that by year-end, about 200 Boeing 747 cargo planes—equivalent to nearly 18,000 tons of product—will be delivered from Europe and Asia.
Providers could begin receiving these shipments in the coming weeks.
Price Action: Shares of BAX were up 0.02% at $36.66 at the time of publication Friday.
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Photo: SeventyFour/Shutterstock.com

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