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Baxter's (BAX) New Launch to Enable Earlier Treatment of Eye
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Baxter International Inc. (BAX - Free Report) recently announced the launch of digital image capture capability for eye examinations using its existing Welch Allyn PanOptic Plus Ophthalmoscope. The new offering is currently available in the United States.
The iExaminer Pro System is expected to add a key technology to routine eye examinations that has been designed to aid advance healthcare professionals’ ability to examine and diagnose the eye health of patients.
The latest launch is expected to significantly strengthen Baxter’s foothold in the global ophthalmology space.
Significance of the Launch
The iExaminer Pro System has been in use with Baxter's Welch Allyn MacroView Plus Otoscope since 2021. The PanOptic Plus Ophthalmoscope with iExaminer Pro System will likely add the ability to connect a smart device to capture images for further examination and enable clinicians to move rapidly from an optical exam to adding digital image capture. Moreover, when used with the iExaminer Pro App, clinicians will be able to securely save and share eye images for tracking and trending and initiate more informed consultations with specialists.
The PanOptic Plus and MacroView Plus tools are expected to offer clinicians bigger views (unlike standard ophthalmoscopes and otoscopes) and additional key features (such as long-lasting LED lamps and DuraShock technology for durability).
Per management, the PanOptic Plus Ophthalmoscope with iExaminer Pro System will likely enable healthcare providers to identify issues early in a primary care setting, effortlessly collaborate with specialists and facilitate patients getting the required diagnosis, care and treatment on time.
Industry Prospects
Per a report by Grand View Research, the global ophthalmoscopes market was valued at $245.2 million in 2022 and is anticipated to expand at a CAGR of 6.6% between 2023 and 2030. Factors like the growing elderly population, the increasing prevalence of eye diseases and technological advancements are expected to drive the market.
Given the market potential, the latest launch is expected to significantly boost Baxter’s global business.
Notable Development
In July, Baxter reported its second-quarter 2023 results, wherein it registered an uptick in its quarterly revenues both on a reported basis and at constant exchange rate (CER). Per management, Baxter's second-quarter performance reflected ongoing solid demand for its diverse and durable portfolio of medically essential products.
U.S. sales in the second quarter reflected an increase of 3% on a reported basis, while International sales from continuing operations represented an increase of 3% on a reported basis and 5% at CER.
Price Performance
Shares of the company have lost 42.4% in the past year compared with the industry’s 5.9% decline. The S&P 500 has witnessed 18.9% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Baxter carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Cardinal Health, Inc. (CAH - Free Report) , HealthEquity, Inc. (HQY - Free Report) and McKesson Corporation (MCK - Free Report) .
Cardinal Health, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 14.3%. CAH’s earnings surpassed estimates in all the trailing four quarters, with an average surprise of 16%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cardinal Health has gained 31.4% compared with the industry’s 21.8% rise over the past year.
HealthEquity, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 23.5%. HQY’s earnings surpassed estimates in all the trailing four quarters, with an average of 13%.
HealthEquity has gained 3.5% against the industry’s 6.5% decline over the past year.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 8.1%.
McKesson has gained 26.2% compared with the industry’s 21.8% rise over the past year.
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Baxter's (BAX) New Launch to Enable Earlier Treatment of Eye
Baxter International Inc. (BAX - Free Report) recently announced the launch of digital image capture capability for eye examinations using its existing Welch Allyn PanOptic Plus Ophthalmoscope. The new offering is currently available in the United States.
The iExaminer Pro System is expected to add a key technology to routine eye examinations that has been designed to aid advance healthcare professionals’ ability to examine and diagnose the eye health of patients.
The latest launch is expected to significantly strengthen Baxter’s foothold in the global ophthalmology space.
Significance of the Launch
The iExaminer Pro System has been in use with Baxter's Welch Allyn MacroView Plus Otoscope since 2021. The PanOptic Plus Ophthalmoscope with iExaminer Pro System will likely add the ability to connect a smart device to capture images for further examination and enable clinicians to move rapidly from an optical exam to adding digital image capture. Moreover, when used with the iExaminer Pro App, clinicians will be able to securely save and share eye images for tracking and trending and initiate more informed consultations with specialists.
The PanOptic Plus and MacroView Plus tools are expected to offer clinicians bigger views (unlike standard ophthalmoscopes and otoscopes) and additional key features (such as long-lasting LED lamps and DuraShock technology for durability).
Per management, the PanOptic Plus Ophthalmoscope with iExaminer Pro System will likely enable healthcare providers to identify issues early in a primary care setting, effortlessly collaborate with specialists and facilitate patients getting the required diagnosis, care and treatment on time.
Industry Prospects
Per a report by Grand View Research, the global ophthalmoscopes market was valued at $245.2 million in 2022 and is anticipated to expand at a CAGR of 6.6% between 2023 and 2030. Factors like the growing elderly population, the increasing prevalence of eye diseases and technological advancements are expected to drive the market.
Given the market potential, the latest launch is expected to significantly boost Baxter’s global business.
Notable Development
In July, Baxter reported its second-quarter 2023 results, wherein it registered an uptick in its quarterly revenues both on a reported basis and at constant exchange rate (CER). Per management, Baxter's second-quarter performance reflected ongoing solid demand for its diverse and durable portfolio of medically essential products.
U.S. sales in the second quarter reflected an increase of 3% on a reported basis, while International sales from continuing operations represented an increase of 3% on a reported basis and 5% at CER.
Price Performance
Shares of the company have lost 42.4% in the past year compared with the industry’s 5.9% decline. The S&P 500 has witnessed 18.9% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Baxter carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Cardinal Health, Inc. (CAH - Free Report) , HealthEquity, Inc. (HQY - Free Report) and McKesson Corporation (MCK - Free Report) .
Cardinal Health, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 14.3%. CAH’s earnings surpassed estimates in all the trailing four quarters, with an average surprise of 16%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cardinal Health has gained 31.4% compared with the industry’s 21.8% rise over the past year.
HealthEquity, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 23.5%. HQY’s earnings surpassed estimates in all the trailing four quarters, with an average of 13%.
HealthEquity has gained 3.5% against the industry’s 6.5% decline over the past year.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 8.1%.
McKesson has gained 26.2% compared with the industry’s 21.8% rise over the past year.