Baxter International Inc. - BAX STOCK NEWS

Baxter International Inc. (NYSE:BAX), a global medtech leader, has appointed Jeffrey (Jay) A. Craig to its board of directors. Craig, former executive chair and CEO of Meritor , will serve on Baxter's Audit Committee. His appointment is effective immediately, bringing the total number of directors to 12. Baxter's chair, president and CEO, José (Joe) E. Almeida, expressed excitement about Craig's addition, highlighting his broad-based business leadership and operational expertise as a former CEO, CFO, COO, and public company auditor. This appointment is expected to complement the current board's expertise with Craig's deep financial experience and public company board background.

Baxter International (NYSE:BAX), a global medtech leader, is set to participate in the 2024 Wells Fargo Healthcare Conference. The company's Chief Financial Officer, Joel Grade, will deliver a presentation on Thursday, September 5, 2024, at 1:30 p.m. Eastern Time.

Investors and interested parties can access the live webcast of Baxter's presentation through the company's official website, www.baxter.com. For those unable to attend the live event, a replay of the presentation will be available on the same platform until Tuesday, March 4, 2025. This presentation offers an opportunity for stakeholders to gain insights into Baxter's current operations, financial performance, and future strategies.

Baxter International Inc. (NYSE:BAX) has announced a definitive agreement to sell its Kidney Care segment, to be named Vantive, to Carlyle for $3.8 billion. This strategic move is part of Baxter's ongoing business transformation aimed at enhancing performance and creating value for stakeholders. The transaction is expected to close in late 2024 or early 2025, subject to regulatory approvals and other conditions.

Key points:

• Baxter will receive approximately $3.5 billion in cash, with estimated net after-tax proceeds of $3 billion
• Proceeds will be used to reduce Baxter's debt
• Vantive, a leader in global kidney care, had 2023 revenues of $4.5 billion
• Post-divestiture, Baxter targets 4-5% annual operational sales growth and an adjusted operating margin of about 16.5% for 2025

Baxter International Inc. (NYSE:BAX) reported strong second-quarter 2024 results, with sales from continuing operations reaching $3.81 billion, a 3% increase on a reported basis and 4% on a constant currency basis. The company exceeded its previously issued guidance across all segments. While U.S. GAAP diluted EPS from continuing operations was ($0.62), adjusted diluted EPS was $0.68, surpassing expectations. Notably, Baxter has increased its full-year sales guidance, now projecting growth of approximately 3% on both reported and constant currency bases. The company also raised its full-year adjusted diluted EPS guidance to $2.93 to $3.01. Baxter's performance was driven by new product launches, heightened demand for various products, and operational efficiencies.

Baxter International Inc. (NYSE:BAX), a global medtech leader, has announced that it will host a conference call to discuss its second-quarter 2024 financial results on Tuesday, August 6, 2024, at 7:30 a.m. Central Time. Investors and interested parties can participate in the call by pre-registering through the provided link. The call will also be webcast and accessible through Baxter's website. It's important to note that the conference call will be recorded by Baxter and is copyrighted material, which cannot be recorded or rebroadcast without Baxter's permission.

Baxter International (NYSE:BAX), a global medtech leader, has announced a quarterly cash dividend of $0.29 per share of common stock. The dividend will be payable on Oct. 1, 2024, to stockholders of record as of Aug. 30, 2024. This declaration sets the indicated annual dividend rate at $1.16 per share of common stock. This announcement demonstrates Baxter's commitment to providing regular returns to its shareholders, which may be seen as a positive sign of the company's financial stability and confidence in its future performance.

Baxter published its 2023 Corporate Responsibility Report, emphasizing its continued commitment to global healthcare, transparency, and environmental, social, and governance (ESG) topics. The report updates Baxter's progress toward its 2030 Corporate Responsibility Commitment and Goals, highlighting key achievements such as investing over $143 million since 2021 in underserved communities, partnering with UNICEF for climate-smart projects in Egypt, and completing 150 energy conservation projects that will reduce GHG emissions by 21,100 metric tons annually from 2024. Baxter also continues to excel in workplace safety and has enhanced its reporting by adopting the TCFD framework. The company plans to conduct a double materiality assessment to align its goals with evolving corporate responsibility standards, especially in light of the proposed separation of its Kidney Care business.

Baxter, a global leader in medical technology, announced that it will present at the Goldman Sachs 45th Annual Global Healthcare Conference. This event is scheduled for June 12, 2024, at 8:40 a.m. Eastern Time. Baxter's CFO, Joel Grade, will represent the company, providing insights into its financial position and future directions. The presentation will be available via live webcast on Baxter's official website and can be replayed through December 9, 2024.

Baxter announced that its expanded hemodialysis (HDx) therapy, enabled by the Theranova dialyzer, has shown to reduce all-cause mortality by approximately 25% over four years compared to high-flux hemodialysis (HF HD). The findings come from a cohort study involving 1,092 dialysis patients in Colombia, presented at the ERA-EDTA Congress. Of these, 533 patients received HF HD, while 559 received HDx therapy. The study emphasized HDx therapy's efficiency in removing large-middle molecule uremic toxins, linked to inflammation and cardiovascular issues in dialysis patients. HDx therapy uses the MCO membrane for better filtration and is compatible with existing HD machines, simplifying its implementation in clinics. Over 14 million HDx treatments have been conducted worldwide.