NYSE:BAXMedical Equipment
Baxter International (BAX) Stock Cools As Margin Pressure Tempers Guidance Lift
Baxter International stock cooled off today, slipping about 2% after a strong multi month run, even as the earnings story pointed in the opposite direction. The headline was a clean beat on Q2, with revenue around US$3.0b and adjusted earnings per share of US$0.56. Management also raised full year adjusted earnings guidance to a range of US$1.95 to US$2.15.
For a company still working through a turnaround and balance sheet repair, that is a meaningful reset of expectations. The market...