Baxter International shares jumped 19% this week after the medical device company reported second-quarter results that beat analyst estimates and raised its full-year guidance. Revenue rose 5% to $2.96 billion, with U.S. sales up 4% to $1.6 billion and international sales up 7% to $1.4 billion, while adjusted earnings per share came in at $0.56, well above the $0.37 consensus. Management now expects full-year sales growth of 3% to 4%, up from a prior forecast of flat to 1%, and adjusted EPS of $1.95 to $2.15, compared with the earlier range of $1.85 to $2.05. The company’s medical products and therapies segment grew 7% to nearly $2.1 billion, and healthcare systems and technologies rose 4% to $801 million.
Baxter International IncBaxter beat Q2 estimates and raised full-year guidance, driving shares up 19%.