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Headquartered in Deerfield, IL, Baxter International Inc. (BAX - Free Report) , a global medical technology company, presented impressive data on SHARESOURCE remote patient management platform and AMIA automated peritoneal dialysis (APD) system for successful management of home dialysis and patient independence at the American Society of Nephrology’s (ASN) annual Kidney Week held in Chicago (Nov 15–20).

After posting an impressive third quarter of 2016, driven by favorable product mix, stringent cost control and expanding operating margin, Baxter has been gaining prominence in the market with its highly exclusive patient management and peritoneal dialysis platforms.

In Oct 2016, Baxter declared the successful execution of almost 150,000 peritoneal dialysis (PD) procedures in patients’ homes by means of SHARESOURCE. This marked the first large-scale application of the ‘first and only two-way, telehealth platform’ that performs home dialysis. Notably, SHARESOURCE has helped healthcare providers keep track of patients suffering with renal issues, especially those who have potential problems that arise after each PD session.

Notably, Baxter recorded around 24 abstracts regarding renal issues, which enhance the quality of care for patients suffering from end-stage renal disease (ESRD).

In this regard, a report by the Global Industry Analysts forecasts the global market for Kidney Dialysis Equipment and Supplies to reach a worth of $18 billion by 2020, courtesy of the growing number of ESRD patients who require dialysis therapy, therapy modalities and technological advancements.

At the ASN, a study of 12 patient profiles was demonstrated, which revealed that remote management of APD patients through Baxter’s telehealth platforms can save approximately $22,000 in total healthcare resources. In fact, studies suggest that renal patients who get treated by Baxter’s AMIA APD system can go home at least one day sooner than the legacy APD system.

Meanwhile, Baxter represents a strong one-year return of 23.6%, compared to the S&P 500’s 5.4% over the same time frame. However, shares fell a nominal 0.3% to close at $47.06 following the news.

Zacks Rank & Other Key Picks

Currently, Baxter sports a Zacks Rank #1 (Strong Buy).

Other favorably ranked stocks in the broader medical space include Cogentix Medical, Inc. (CGNT - Free Report) , CryoLife Inc. (CRY - Free Report) and IDEXX Laboratories, Inc. (IDXX - Free Report) . Notably, IDEXX Laboratories and Cogentix sport a Zacks Rank #1 while CryoLife has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Cogentix Medical registered a positive earnings surprise of 100% in the last reported quarter. Notably, the company has a solid one-year return of roughly 56.6%.

CryoLife has a stellar one-year return of roughly 88.8%. In the last reported quarter, the company registered an impressive earnings surprise of 225%.

IDEXX Laboratories represents a solid one-year return of almost 71.6%. The company has a long-term expected growth rate of almost 14.96%.

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