Baxter tumbles on 2025 forecast cut, disappointing quarterly results

Baxter International

31/07/2025 17:29

Updates

** Shares of medical device maker Baxter BAX.N fall as much as 23%, hitting a 19-year low of $21.61

 ** Stock set for its worst day in over 22 years if losses hold

 ** Company
expects
 2025 adj. EPS between $2.42 and $2.52, down from its prior view of $2.47 to $2.55 per share; analysts expect $2.52 per share

 ** Company says it has voluntarily halted shipments of its Novum IQ Large Volume Pump following reports of two deaths and multiple injuries, adding that it does not expect to resume shipments before the end of the year

 ** "Many investors had feared this scenario given the lack of a pre-announcement following a new CEO in early July" - J.P.Morgan analyst Robbie Marcus said

** BAX reports Q2 adj. profit of 59 cents/share, below analysts' estimates of 61 cents/share, according to data compiled by LSEG

** Also, Q2 sales of $2.81 billion, below estimates of $2.82 billion

** Up to last close, stock had decreased 3.8% YTD

(Reporting by Siddhi Mahatole and Kamal Choudhury)

((siddhi.mahatole@thomsonreuters.com))