BUZZ-Baxter falls as medical device maker cuts annual profit forecast on hurricane impact

Reuters
2024-11-08
BUZZ-Baxter falls as medical device maker cuts annual profit forecast on hurricane impact

** Medical device maker Baxter's BAX.N shares fall 1.2% to $35.60 premarket

** Company forecasts annual adj profit per share between $2.90 and $2.94, vs prior forecast range of $2.93 to $3.01

** Analysts expect full-year profit of $2.95 per share - LSEG

** Baxter expects Q4 sales to be negatively impacted by about $200 mln due to hurricane impact

** Company reports Q3 adj profit of 80 cents/shr vs est 78 cents/shr

** Q3 sales of $3.85 bln in line with est

** As of last close, stock down 6.8% YTD

(Reporting by Christy Santhosh and Sriparna Roy in Bengaluru)

((Christy.Santhosh@thomsonreuters.com))

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