Baxter Reports Better-Than-Expected 1Q
Despite Baxter’s anticipated headwind from hurricane recovery efforts in Puerto Rico, the company’s first-quarter performance slightly surpassed our expectations and we expect to incrementally raise our fair value estimate. Management raised its top-line outlook by roughly 1 percentage point and adjusted EPS to $2.85 to $2.93, which is above our $2.77 estimate. The EPS increase stems partially from an improved outlook for cyclophosphamide, a lower tax-rate benefit during the quarter, and share r...Baxter International, through its subsidiaries, provides a portfolio of healthcare products, including acute and chronic dialysis therapies; sterile intravenous solutions; infusion systems and devices; parenteral nutrition therapies; inhaled anesthetics; generic injectable pharmaceuticals; and surgical hemostat and sealant products. These products are used by hospitals, kidney dialysis centers, nursing homes, rehabilitation centers, doctors' offices and by patients at home under physician supervision. The company manages its business based on three geographic segments: Americas (North and South America), Europe, Middle East and Africa and Asia-Pacific.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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