Baxter Reports Solid 4Q, and 2019 Outlook Matches Our Expectations
With constant-currency growth of 5% and an adjusted operating margin of 17.5% (up 210 basis points from last year) during the fourth quarter, Baxter ended its fiscal 2018 slightly ahead of our expectations. The company’s 2019 outlook for 2%-3% constant-currency revenue growth and an adjusted operating margin of 18%-18.4% both fall near our forecast. Therefore, we don’t anticipate a major change to our fair value estimate as we update our model. While Baxter still has some lingering issues to dea...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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