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Baxter Stock up on Launch of Disposable Curved Applicator
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Baxter International Inc. (BAX - Free Report) has launched Disposable Curved Applicator, which improves the delivery experience of its Floseal Hemostatic Matrix product line for procedures in the otolaryngology, head and neck surgical specialty (also called ENT). This latest development is likely to boost Baxter’s Advanced Surgery business.
Following the announcement, shares of Baxter inched up 1.4% to $65.11 at close.
For investors’ notice, FLOSEAL is an effective hemostatic agent, which is proven to effectively control and stop bleeding. FLOSEAL Hemostatic Matrix is available in select countries globally.
A Peek Into Baxter’s Surgical Portfolio
Apart from FLOSEAL, Baxter’s surgical portfolio offers a wide range of products like TISSEEL Fibrin Sealant, COSEAL Surgical Sealant and VASCU-GUARD Patch. The portfolio is composed of hemostasis (addressing bleeding), tissue sealing and hard tissue regeneration as well as soft tissue repair and microsurgery.
It is encouraging to note that in the last reported quarter, Baxter’s Advanced Surgery revenues grew 14.3% year over year. Revenues moved up 15% at constant currency. The upside can be attributed to a significant contribution by the company’s surgical sealant product line — RECOTHROM and PREVELEAK.
In the last month, Baxter unveiled Peri-Strips Dry stapler and Tisseel Prima syringe at the 2018 American Society for Metabolic and Bariatric Society (ASMBS) Obesity Week meeting. (Read More: Baxter Launches Peri-Strips & Tisseel Prima, Shares Up)
Market Prospects
MarketWatch predicts that the global surgical equipment market is expected to grow at a CAGR of 6.2% between 2018 and 2023.
The market is currently being driven by increasing prevalence of chronic diseases such as cardiovascular ailments, obesity, and increasing number of surgeries in ambulatory surgical centers and hospitals.
Other Launches in 2018
Interestingly, Baxter had several significant launches in this year.
Earlier in this year, the company announced a distribution agreement for the launch of the Arisure Closed System Transfer device in the United States to promote safe handling of hazardous drugs. (Read More: Baxter Launches Arisure Closed System Transfer Device)
Price Performance
Over the past year, shares of Baxter have edged down 1% compared with the industry’s 4.4% decline. The current level also compares favorably with the S&P 500 index’s decline of 5.1%.
Zacks Rank & Stocks to Consider
Baxter currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Integer Holdings Corporation (ITGR - Free Report) , OPKO Health, Inc. (OPK - Free Report) and Surmodics (SRDX - Free Report) .
OPKO Health’s long-term earnings growth rate is projected at 12%. The stock presently carries a Zacks Rank of 2 (Buy).
Surmodics’ long-term earnings growth rate is estimated at 10%. The stock currently carries a Zacks Rank #2.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Baxter Stock up on Launch of Disposable Curved Applicator
Baxter International Inc. (BAX - Free Report) has launched Disposable Curved Applicator, which improves the delivery experience of its Floseal Hemostatic Matrix product line for procedures in the otolaryngology, head and neck surgical specialty (also called ENT). This latest development is likely to boost Baxter’s Advanced Surgery business.
Following the announcement, shares of Baxter inched up 1.4% to $65.11 at close.
For investors’ notice, FLOSEAL is an effective hemostatic agent, which is proven to effectively control and stop bleeding. FLOSEAL Hemostatic Matrix is available in select countries globally.
A Peek Into Baxter’s Surgical Portfolio
Apart from FLOSEAL, Baxter’s surgical portfolio offers a wide range of products like TISSEEL Fibrin Sealant, COSEAL Surgical Sealant and VASCU-GUARD Patch. The portfolio is composed of hemostasis (addressing bleeding), tissue sealing and hard tissue regeneration as well as soft tissue repair and microsurgery.
It is encouraging to note that in the last reported quarter, Baxter’s Advanced Surgery revenues grew 14.3% year over year. Revenues moved up 15% at constant currency. The upside can be attributed to a significant contribution by the company’s surgical sealant product line — RECOTHROM and PREVELEAK.
In the last month, Baxter unveiled Peri-Strips Dry stapler and Tisseel Prima syringe at the 2018 American Society for Metabolic and Bariatric Society (ASMBS) Obesity Week meeting. (Read More: Baxter Launches Peri-Strips & Tisseel Prima, Shares Up)
Market Prospects
MarketWatch predicts that the global surgical equipment market is expected to grow at a CAGR of 6.2% between 2018 and 2023.
The market is currently being driven by increasing prevalence of chronic diseases such as cardiovascular ailments, obesity, and increasing number of surgeries in ambulatory surgical centers and hospitals.
Other Launches in 2018
Interestingly, Baxter had several significant launches in this year.
In October, Baxter launched parenteral nutrition (PN) tools, with a view to boost its Clinical Nutrition business. (Read More: Baxter & ASPEN Launch PN Tools to Boost Clinical Nutrition)
Earlier in this year, the company announced a distribution agreement for the launch of the Arisure Closed System Transfer device in the United States to promote safe handling of hazardous drugs. (Read More: Baxter Launches Arisure Closed System Transfer Device)
Price Performance
Over the past year, shares of Baxter have edged down 1% compared with the industry’s 4.4% decline. The current level also compares favorably with the S&P 500 index’s decline of 5.1%.
Zacks Rank & Stocks to Consider
Baxter currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Integer Holdings Corporation (ITGR - Free Report) , OPKO Health, Inc. (OPK - Free Report) and Surmodics (SRDX - Free Report) .
Integer Holdings projected earnings growth rate of 31.2% for the next quarter. It currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
OPKO Health’s long-term earnings growth rate is projected at 12%. The stock presently carries a Zacks Rank of 2 (Buy).
Surmodics’ long-term earnings growth rate is estimated at 10%. The stock currently carries a Zacks Rank #2.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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