This quarter, analysts are expecting Baxter\u2019s revenue to grow 6.6% year on year to $2.88 billion, improving from the 3.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.60 per share.<\/p>\n
Baxter Total Revenue <\/p>\n
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Baxter has missed Wall Street\u2019s revenue estimates six times over the last two years.<\/p>\n
Looking at Baxter\u2019s peers in the medical devices & supplies – diversified segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Neogen\u2019s revenues decreased 3.6% year on year, beating analysts\u2019 expectations by 2.6%, and Boston Scientific reported revenues up 20.3%, topping estimates by 1.9%. Neogen traded up 3.7% following the results while Boston Scientific was also up 2.5%.<\/p>\n
Read our full analysis of Neogen\u2019s results here<\/a> and Boston Scientific\u2019s results here<\/a>.<\/p>\n There has been positive sentiment among investors in the medical devices & supplies – diversified segment, with share prices up 6.1% on average over the last month. Baxter is up 2.3% during the same time and is heading into earnings with an average analyst price target of $28 (compared to the current share price of $22.90).<\/p>\n Unless you\u2019ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story<\/a>.<\/p>\n