Baxter International Inc. (NYSE:BAX) is trading closer to the lower end of its 52-week range of $17.4-$37.74, according to Benzinga Pro data.
Baxter reported a fourth-quarter adjusted EPS of 44 cents, below the management guidance of 52-57 cents and the Wall Street estimate of 54 cents. The decrease was driven primarily by an unfavorable product mix.
The medical device maker reported sales of $2.974 billion, up 8% year over year on a reported basis and 3% on an operational basis, beating the consensus of $2.824 billion.
Management expected fourth-quarter sales growth of approximately 2% on a reported basis and a decline of approximately 2% on an operational basis.
Segment Breakup
Medical Products & Therapies sales were approximately $1.39 billion, increasing 6% on a reported and 4% on an operational …