Earnings summaries and quarterly performance for BAXTER INTERNATIONAL.
Executive leadership at BAXTER INTERNATIONAL.
Board of directors at BAXTER INTERNATIONAL.
AW
Amy Wendell
Detailed
Director
BS
Brent Shafer
Detailed
Chair of the Board
CS
Cathy Smith
Detailed
Director
DW
David Wilkes
Detailed
Director
JC
Jeffrey Craig
Detailed
Director
NS
Nancy Schlichting
Detailed
Lead Independent Director
PM
Patricia Morrison
Detailed
Director
SO
Stephen Oesterle
Detailed
Director
SR
Stephen Rusckowski
Detailed
Director
WA
William Ampofo
Detailed
Director
Research analysts who have asked questions during BAXTER INTERNATIONAL earnings calls.
Travis Steed
Bank of America
7 questions for BAX
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Vijay Kumar
Evercore ISI
7 questions for BAX
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DR
David Roman
Goldman Sachs Group Inc.
6 questions for BAX
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LB
Larry Biegelsen
Wells Fargo & Company
5 questions for BAX
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Joanne Wuensch
Citigroup Inc.
4 questions for BAX
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RM
Robert Marcus
JPMorgan Chase & Co.
4 questions for BAX
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DA
Danielle Antalffy
UBS Group AG
2 questions for BAX
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LB
Lawrence Biegelsen
Wells Fargo
2 questions for BAX
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Matt Miksic
Barclays Investment Bank
2 questions for BAX
Also covers: ABT, ATEC, BLCO +14 more
MM
Matt Mixkit
Barclays PLC
2 questions for BAX
MT
Matt Taylor
Jefferies & Company Inc.
2 questions for BAX
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PC
Pito Chickering
Deutsche Bank
2 questions for BAX
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RM
Robbie Marcus
JPMorgan Chase & Co.
2 questions for BAX
Also covers: ABT, BDX, BLCO +9 more
Matthew Miksic
Barclays PLC
1 question for BAX
Also covers: ABT, ATEC, BDX +15 more
Recent press releases and 8-K filings for BAX.
Baxter outlines turnaround plan at 44th Annual J.P. Morgan Healthcare Conference
BAX
Product Launch
New Projects/Investments
- Andrew Hider, in his first JPM Healthcare presentation as CEO, detailed a stabilization agenda centered on people, process, performance and launched “Baxter GPS” continuous improvement system with eight key value creators.
- Baxter targets reducing leverage below 3.0x, maintaining a $0.01 quarterly dividend, and prioritizing R&D and CapEx to drive internal growth before pursuing tuck-in M&A opportunities.
- Innovation highlights include upcoming launches of the Welch Allyn Connex 360 patient monitor, integrated IQX Infusion platform, and Dynamo Stretcher (early Q2 delivery).
- The IV solutions business baseline has been reset after 10–15% demand decline due to hurricane disruption and clinical practice shifts, with plans to rebuild from this new level.
- Baxter placed a voluntary ship hold on Novum large-volume pumps pending final field actions while supplying the proven Spectrum platform to meet customer needs.
Jan 12, 2026, 10:15 PM
Baxter outlines strategic priorities and product launches
BAX
Product Launch
Dividends
- New CEO Andrew Hider launched the Baxter GPS continuous improvement system focused on stabilizing operations, targeting eight Value Creators across people, process, and performance to drive deleveraging to below 3x and enhance accountability.
- Baxter will prioritize capital allocation to reduce leverage (currently over 3x), sustain R&D at about 5% of revenue shifting more toward new-product vitality, hold the dividend at $0.01, and consider opportunistic M&A and share buybacks once leverage is normalized.
- The company announced key product launches: the Welch Allyn Connex 360 patient monitoring platform, IQX Infusion system (integrating Spectrum, Novum, and upcoming PeerView), and the Dynamo Stretcher for acute care with orders beginning in Q2 2026.
- Management flagged working-capital improvements in 2026 as a priority, addressing inventory build-up from Hurricane Helene, aligning demand planning with production, optimizing payables terms, and enhancing collections to improve cash conversion.
Jan 12, 2026, 10:15 PM
Baxter outlines strategic priorities and capital allocation plan
BAX
Guidance Update
New Projects/Investments
Share Buyback
- Baxter’s LTM Q3 2025 continuing operations sales: $5.2 B Medical Products & Therapies, $3.0 B Healthcare Systems & Technologies, $2.5 B Pharmaceuticals.
- Next-chapter pillars: Stabilize the Business, Strengthen the Balance Sheet, and Drive Continuous Improvement through the Baxter GPS framework.
- Capital allocation highlights: near-term debt repayment targeting ~3.0× net leverage by end-2026, maintenance of investment-grade rating, sustained dividend, and opportunistic share repurchases.
- Upcoming product launches include Welch Allyn Connex 360 (Q3/Q4 2025), IQX Infusion Platform (Q4 2025+), and Smart & Expansible Acute Care Stretcher (Q1/Q2 2026).
Jan 12, 2026, 10:15 PM
Baxter outlines GPS framework and product launches at J.P. Morgan Healthcare Conference
BAX
Product Launch
Guidance Update
Dividends
- Introduced Baxter GPS, a continuous-improvement system centered on eight “Value Creators” (revenue, margin, working capital, ROIC, hire-from-within, turnover, on-time delivery, quality) to stabilize operations and reduce leverage below 3×.
- Reiterated expectations for modest growth in 2026, with Solutions reset to a new baseline after a 10–15% demand decline, strong order backlog in Care & Connectivity, and headwinds from full-year tariffs (~$40 M), higher interest expense on recent debt issuance, and a more normalized tax rate.
- Announced recent and upcoming product launches, including the Welch Allyn Connex 360 patient monitor, IQX Infusion platform integration with PeerVue, and the Dynamo Stretcher for acute care (deliveries begin Q2 2026).
- Emphasized balance-sheet discipline: leverage reduction remains top priority, quarterly dividend cut to $0.01 retained to free cash for CapEx/R&D, with future opportunistic M&A and share repurchases once leverage targets are met.
- Outlined capital-allocation strategy prioritizing deleveraging, internal investments to drive ROIC, then targeted tuck-in acquisitions to enhance long-term value creation.
Jan 12, 2026, 10:15 PM
Baxter International targeted in securities fraud lawsuit
BAX
Legal Proceedings
- The Schall Law Firm has filed a class action lawsuit against Baxter International Inc. alleging violations of §§10(b) and 20(a) of the Securities Exchange Act and Rule 10b-5 over misleading statements about its medical devices.
- Investors who purchased Baxter securities between February 23, 2022 and July 30, 2025 can seek lead plaintiff status or participate by contacting the firm before December 15, 2025.
- The complaint alleges the Novum IQ Large Volume Pump suffered widespread malfunctions—including overinfusion and non-delivery of fluids—that endangered patients, and that Baxter’s remedial measures failed to address design defects.
- Plaintiffs contend that once the true extent of these pump defects was revealed, investors incurred losses due to Baxter’s materially misleading public statements during the class period.
Dec 15, 2025, 5:00 PM
Baxter International sued over Novum LVP defects; investor deadline December 15, 2025
BAX
Legal Proceedings
- Faruqi & Faruqi, LLP is investigating potential securities claims against Baxter International (NYSE: BAX) for allegedly making false or misleading statements about the safety and rollout of its Novum LVP infusion pumps.
- The complaint alleges systemic defects in Novum LVPs led to underinfusion, overinfusion and non-delivery of fluids, exposing patients to serious injury or death, and that Baxter’s customer alerts were inadequate.
- On July 31, 2025, Baxter voluntarily paused shipments and installations of Novum LVPs, triggering a 22.4% stock price drop to $21.76.
- Investors have until December 15, 2025 to seek appointment as lead plaintiff in the federal securities class action.
Dec 11, 2025, 3:21 PM
Baxter International shareholders urged to meet lawsuit filing deadline
BAX
Legal Proceedings
- Deadline: Investors who acquired BAX between Feb. 23, 2022 and July 30, 2025 must file a lead plaintiff motion by Dec. 15, 2025 to participate in the class action.
- Allegations: The lawsuit claims Baxter failed to disclose systemic defects in its Novum IQ Large Volume Pump, leading to underinfusion, overinfusion, 79 serious injuries and 2 patient deaths.
- Material event: On July 31, 2025, Baxter paused all Novum LVP shipments; its stock fell 22.4% ($6.24) to $21.61.
- Next steps: Affected shareholders may contact Glancy Prongay & Murray LLP to join the lawsuit or remain as absent class members.
Dec 8, 2025, 5:00 PM
Baxter announces early tender results for 2026 and 2027 senior notes
BAX
Debt Issuance
- As of the early tender cutoff on Dec. 3, 2025, valid tenders totaled $420.589 million of the $750 million 2.600% Senior Notes due 2026 and $1,088.66 million of the $1,450 million 1.915% Senior Notes due 2027.
- Baxter elected early settlement for accepted tenders on Dec. 8, 2025; $30 per $1,000 principal early tender payment included, with final Total Consideration to be set at 10:00 a.m. on Dec. 4, 2025.
- Tender offers for 2027 Notes will be accepted pro rata up to the $600 million maximum cap; no further tenders are expected to be accepted after the early date.
Dec 4, 2025, 9:15 PM
Baxter outlines operational focus and market challenges at Evercore HealthCONx
BAX
Guidance Update
Demand Weakening
Product Launch
- CFO Joel Grade says new CEO Andrew brings strong operational background and will emphasize continuous improvement, stabilizing key businesses and balance sheet deleveraging.
- Three main factors driving 2025 guidance downs: Novum pump disruptions, IV fluid conservation settling at 10–15% below pre-hurricane levels, and softness in US injectable pharmaceuticals.
- Demand for Spectrum pumps remains robust; total pump sales represent <2% of revenues with US market share in the high-20s, aided by common tube and set compatibility.
- Baxter is now enforcing GPO volume commitments post-allocation period, with pricing adjustments for unmet targets reflecting a new normal in fluid usage.
- CCS order book is up 30% year-to-date, frontline care markets have stabilized, and Baxter plans to launch the next-gen Connex 360 monitor in Q4 2025.
Dec 2, 2025, 3:50 PM
Baxter outlines operational focus, guidance drivers, and product pipeline at HealthCONx
BAX
CEO Change
Guidance Update
Product Launch
- CFO Joel Grade highlighted that new CEO Andrew brings a continuous improvement mindset to stabilize ITT and pharma businesses, focus on deleveraging, and drive predictable execution.
- Baxter attributed multiple 2025 guidance cuts to the Novum pump safety ship‐hold (~2% of sales), a new-normal 10–15% reduction in hospital fluid volumes post-hurricane, and softness in U.S. pharma injectables (lower Premix uptake).
- Demand for the legacy Spectrum pump remains strong, prompting a production ramp‐up as customers swap or return Novum units.
- The Connex 360 next‐generation patient monitor, featuring enhanced cybersecurity, launched in Q4 2025 and is expected to contribute to 2026 growth.
Dec 2, 2025, 3:50 PM
Quarterly earnings call transcripts for BAXTER INTERNATIONAL.
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