Baxter International is a leading medical and surgical product company with a focus on kidney, hemophilia, and immune disorder treatment. The company’s stock has witnessed strong growth over the past 5 years and could be a candidate for a long-term investment. If you are an investor looking to buy now medical stocks, then Baxter International may be worth following. Baxter’s medical products are used by hospitals, doctor offices, care centers, and healthcare clinics around the world. Baxter has been in the healthcare industry for over 90 years and it markets products in more than 100 countries. In the year 2020, Baxter earned annual sales of over $11 billion. The company has stated its goals of enhancing patient safety as well as the quality of its products, delivering industry-leading performance, growing through product innovation, and creating the best workplace environment for its employees.
Baxter International Reports Q12021 Earnings Results
On 29th April 2021, Baxter International announced its Q12021 earnings numbers. On the COVID front, the company also announced that it had signed a deal with Moderna for providing supply packaging and sterile manufacturing services for 60 to 90 million doses of Moderna’s COVID vaccine. Baxter International also gained recognition for being named as one of America’s Best Employers for Diversity 2021, a list compiled by Forbes. On the financial side, total global revenue rose from $2.8 billion in Q12020 to $2.9 billion in Q12021. Adjusted operating margin dropped from 18.8% in Q12020 to 17%. Adjusted diluted earnings per share also fell 7% year on year from $0.82 in Q12020 to $0.76. However, the longer-term growth story for Baxter seems to be intact. Investors looking for medical stocks long term may want to track Baxter more closely.
Baxter International’s stock has gained close to 140% over a 6-year period. The stock was in a strong uptrend until the pandemic-led crash of March 2020. Since then, the price is flat and down by a little more than 1%. The resumption of patient visits and elective procedures could be a tailwind for the company.