Baxter International Inc. (BAX - Free Report) and bioMérieux recently announced an agreement to develop future biomarkers for prompt identification and treatment of acute kidney injury (“AKI”) at the International Symposium on Intensive Care and Emergency Medicine. This is expected to boost Baxter’s Acute Therapies business apart from fortifying its foothold in the global renal care market.
However, following the announcement, shares of this Zacks Rank #2 (Buy) company fell 0.2% to $76.95 at close.
Details about the deal have been kept under the wraps.
For investors’ notice, bioMérieux is a leader in the field of in vitro diagnostics, serving more than 160 countries.
Acute Therapies Gets a Boost
Baxter’s Acute Therapies provide industry-leading technologies and services that help deliver multi-organ support in the ICU. Notably, the company’s flagship PRISMAFLEX System is designed to support the recovery of critically ill patients with AKI.
It is encouraging to note that in the last reported quarter, Baxter’s Acute Therapies business grew 12% at constant currency, driven by increased global demand for the company’s continuous renal replacement therapies.
Additionally, management at Baxter expects the Acute Therapies business to grow 7-8% in 2019.
Market Prospects
The International Society of Nephrology opines that each year about 13.3 million cases of AKI are detected globally.
Mordor Intelligence states that the global renal medical devices and services market is expected to see a CAGR of about 6% by 2023. The rising incidence of chronic kidney diseases across the globe currently fuel the market.
Some other key players in the renal care space are DaVita (DVA - Free Report) and Fresenius Medical Care AG & Co. KGaA (FMS - Free Report) . DaVita Kidney Care, an operating division of the company, has been successfully driving DaVita’s top line. Additionally, Fresenius Medical offers a wide spectrum of dialysis products like modular machine components, dialyzers, bloodline systems.
Price Performance
Over the past year, shares of Baxter have rallied 15.3% compared with the industry’s 6.8% rise. The current level is also higher than the S&P 500 index’s 4.4% rally.
Key Pick
Another top-ranked stock in the broader medical space is Veeva Systems (VEEV - Free Report) .
Veeva Systems’ long-term earnings growth rate is projected at 14.8%. The stock carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Baxter International Inc. (BAX - Free Report) and bioMérieux recently announced an agreement to develop future biomarkers for prompt identification and treatment of acute kidney injury (“AKI”) at the International Symposium on Intensive Care and Emergency Medicine. This is expected to boost Baxter’s Acute Therapies business apart from fortifying its foothold in the global renal care market.
However, following the announcement, shares of this Zacks Rank #2 (Buy) company fell 0.2% to $76.95 at close.
Details about the deal have been kept under the wraps.
For investors’ notice, bioMérieux is a leader in the field of in vitro diagnostics, serving more than 160 countries.
Acute Therapies Gets a Boost
Baxter’s Acute Therapies provide industry-leading technologies and services that help deliver multi-organ support in the ICU. Notably, the company’s flagship PRISMAFLEX System is designed to support the recovery of critically ill patients with AKI.
It is encouraging to note that in the last reported quarter, Baxter’s Acute Therapies business grew 12% at constant currency, driven by increased global demand for the company’s continuous renal replacement therapies.
Additionally, management at Baxter expects the Acute Therapies business to grow 7-8% in 2019.
Market Prospects
The International Society of Nephrology opines that each year about 13.3 million cases of AKI are detected globally.
Mordor Intelligence states that the global renal medical devices and services market is expected to see a CAGR of about 6% by 2023. The rising incidence of chronic kidney diseases across the globe currently fuel the market.
Some other key players in the renal care space are DaVita (DVA - Free Report) and Fresenius Medical Care AG & Co. KGaA (FMS - Free Report) . DaVita Kidney Care, an operating division of the company, has been successfully driving DaVita’s top line. Additionally, Fresenius Medical offers a wide spectrum of dialysis products like modular machine components, dialyzers, bloodline systems.
Price Performance
Over the past year, shares of Baxter have rallied 15.3% compared with the industry’s 6.8% rise. The current level is also higher than the S&P 500 index’s 4.4% rally.
Key Pick
Another top-ranked stock in the broader medical space is Veeva Systems (VEEV - Free Report) .
Veeva Systems’ long-term earnings growth rate is projected at 14.8%. The stock carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
See Latest Stocks Today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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