Core Viewpoint - Rosen Law Firm is reminding investors who purchased Baxter International Inc. common stock between February 23, 2022, and July 30, 2025, about the December 15, 2025, deadline to become a lead plaintiff in a class action lawsuit [1] Group 1: Class Action Details - Investors who bought Baxter common stock during the specified period may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2] - A class action lawsuit has already been filed, and interested parties can join by contacting Rosen Law Firm [3] - The deadline to move the Court to serve as lead plaintiff is December 15, 2025, with the lead plaintiff representing other class members [3] Group 2: Law Firm Credentials - Rosen Law Firm emphasizes the importance of selecting qualified counsel with a successful track record in securities class actions [4] - The firm has achieved significant settlements, including the largest securities class action settlement against a Chinese company at the time and has recovered hundreds of millions of dollars for investors [4] - In 2019, the firm secured over $438 million for investors, and its founding partner was recognized as a Titan of Plaintiffs' Bar by Law360 in 2020 [4] Group 3: Case Allegations - The lawsuit alleges that Baxter misled investors by failing to disclose systemic defects in the Novum IQ Large Volume Pump, which led to serious risks for patients [5] - Specific issues included underinfusion, overinfusion, and complete non-delivery of fluids, with Baxter being aware of multiple malfunctions and injuries [5] - Baxter's inadequate remedial measures and the persistence of design flaws heightened the risk of halting sales and negatively impacted the company's statements regarding product safety and sales prospects [5]

Group 1 - Baxter International's stock experienced a significant decline of nearly 15% following a mixed third-quarter report that missed analyst profitability estimates [1] - Total sales for Baxter rose by 5% year over year to $2.84 billion, while net income not according to GAAP decreased by 14% to $355 million ($0.69 per share) [2] - The revenue figure fell short of the consensus analyst estimate of $2.88 billion, although the adjusted net profit exceeded the projection of $0.60 [3] Group 2 - Baxter's business segments showed varied performance, with Pharmaceuticals leading growth at 7% to $632 million, Healthcare Systems and Technologies increasing by 3% to $773 million, while Medical Products and Therapies declined by 1% to just under $1.33 billion [4] - The "other" category saw a significant increase, rising more than fivefold to $101 million [4] - Management's guidance for the full year anticipates sales growth of only 1% to 2% over the 2024 result, with adjusted net income forecasted at $2.35 to $2.40 per share, below the average analyst estimate of $2.44 [5]

Core Viewpoint - Baxter International, Inc. is facing a class action lawsuit due to allegations of issuing false and misleading statements regarding the safety and efficacy of its Novum LVP product, which reportedly has systemic defects leading to serious patient risks [3][4]. Summary by Sections Allegations - The lawsuit claims that Baxter's Novum LVP product suffered from systemic defects causing malfunctions such as underinfusion, overinfusion, and complete non-delivery of fluids, posing risks of serious injury or death to patients [3]. - Baxter was allegedly aware of multiple device malfunctions, injuries, and deaths related to these defects but failed to adequately address them [3]. - The company's attempts to mitigate these issues through customer alerts were deemed insufficient, as design flaws persisted [3]. - There was an increased risk that customers would be advised to take existing Novum LVPs out of service, and Baxter might halt all new sales of these pumps [3]. - Baxter's statements regarding the safety, efficacy, product rollout, customer feedback, and sales prospects of the Novum LVPs were claimed to be materially false and misleading [3]. Class Action Details - The class period for the lawsuit is from February 23, 2022, to July 30, 2025 [3]. - Shareholders who purchased shares during this period are encouraged to register for the class action, with a deadline for lead plaintiff appointment set for December 15, 2025 [4]. - Participants will be enrolled in a portfolio monitoring system to receive updates on the case's status [4]. Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [5].

Core Viewpoint - Baxter International Inc. has lowered its 2025 guidance again, leading to a decline in stock price, which hit a 52-week low [1][6] Financial Performance - The company reported a third-quarter adjusted EPS of 69 cents, exceeding management's guidance of 58-62 cents and Wall Street's estimate of 60 cents [2] - Sales for the third quarter reached $2.84 billion, reflecting a 5% year-over-year increase on a reported basis and a 2% increase on an operational basis, nearly aligning with the consensus of $2.88 billion [2] Segment Performance - Medical Products & Therapies sales were approximately $1.33 billion, showing a decline of 1% on both a reported and operational basis, attributed to reduced sales in the Infusion Therapies & Technologies division, though offset by strong demand for Advanced Surgery products [3] - Healthcare Systems & Technologies sales amounted to $773 million, up 3% on a reported basis and 2% on an operational basis, driven by demand for Care & Connectivity Solutions products [4] - Pharmaceutical sales totaled approximately $632 million, increasing by 7% on both a reported and operational basis, reflecting strength in Drug Compounding and Injectables & Anesthesia products [4] Guidance Adjustments - Baxter has revised its fiscal 2025 adjusted earnings guidance from $2.42-$2.52 per share to $2.35-$2.40 per share, compared to the consensus of $2.44 [5] - The company lowered its 2025 sales guidance from a range of $11.27 billion to $11.38 billion down to $11.06 billion to $11.17 billion, against the consensus of $11.31 billion [5] - Baxter anticipates sales growth of 4%-5% on a reported basis (down from 6%-7%) and 1%-2% on an operational basis (down from 3%-4%) [5] Future Expectations - For the fourth quarter, Baxter expects adjusted earnings of 52-57 cents, below the consensus of 70 cents, with projected sales growth of approximately 2% on a reported basis and a decline of about 2% on an operational basis [6] - At the time of publication, Baxter's shares were down 13.31% at $19.43, trading near its 52-week low of $21.33 [6]

Core Points - The article highlights the December 15, 2025 deadline for filing a lead plaintiff motion in a class action lawsuit against Baxter International, Inc. [1] - The class action is on behalf of investors who purchased or acquired Baxter's common stock between February 23, 2022, and July 30, 2025, inclusive [1] Company Information - Baxter International, Inc. is identified by its stock symbol BAX and is listed on the NYSE [1] - The lawsuit pertains to investors who suffered losses during the specified class period [1]

Core Insights - Baxter International Inc. reported third-quarter 2025 adjusted earnings per share (EPS) of 69 cents, exceeding the Zacks Consensus Estimate of 60 cents by 15%, although the bottom line declined 14% from the previous year [1][6] - Revenues from continued operations totaled $2.84 billion, reflecting a 5% increase on a reported basis but missing the Zacks Consensus Estimate by 1% [2][6] - The company's shares fell 16.2% in pre-market trading due to lower-than-expected quarterly sales, with a year-to-date decline of 3.8% compared to the industry's growth of 6% [2] Revenue Details - Total revenues from continued operations were $2.84 billion, up 5% reported and 2% operationally, but missed expectations [2] - The Medical Products & Therapies segment generated $1.33 billion, down 1% on both reported and operational bases, primarily due to lower sales in Infusion Therapies & Technologies [4] - Infusion Therapies and Technologies sales were $1.02 billion, down 4% year over year, while Advanced Surgery sales rose 13% to $306 million [5][6] - Healthcare Systems and Technologies segment sales reached $773 million, up 3% year over year, driven by growth in Care & Connectivity Solutions [7] - Pharmaceuticals segment sales totaled $632 million, up 7% year over year, with strong performance in Drug Compounding and Injectables & Anesthesia [8][9] Margin Analysis - Adjusted gross profit was $1.12 billion, down 5.3% year over year, with an adjusted gross margin contraction of 430 basis points to 39.4% [10] - Selling, general and administrative expenses were $708 million, down 6% from the previous year, while research and development expenses totaled $118 million, down 9% [10] - Adjusted operating income from continuing operations was $423 million, up 8% year over year, with an adjusted operating margin improvement of 40 basis points to 14.9% [11] 2025 Guidance - For Q4 2025, Baxter anticipates sales growth of 2% reported and a decline of 2% operationally, with adjusted EPS expected in the range of 52-57 cents [12] - Full-year 2025 guidance for continuing operational sales growth is now 4-5% reported and 1-2% operationally, with adjusted EPS projected at $2.35-$2.40, down from previous guidance [13]

Core Insights - Baxter International reported $2.84 billion in revenue for Q3 2025, a 5% year-over-year increase, but EPS decreased to $0.69 from $0.80 a year ago [1] - The revenue fell short of the Zacks Consensus Estimate of $2.87 billion, resulting in a surprise of -1.32%, while the EPS exceeded expectations by 15% [1] Financial Performance Metrics - U.S. Pharmaceuticals net sales were $177 million, slightly below the average estimate of $183.65 million, reflecting a -0.6% year-over-year change [4] - International Pharmaceuticals net sales reached $455 million, matching the average estimate and showing an 11% increase year-over-year [4] - Advanced Surgery net sales were $306 million, surpassing the average estimate of $289.33 million, with a year-over-year growth of 12.5% [4] - Other net sales skyrocketed to $101 million, significantly exceeding the estimated $91.79 million, marking a remarkable 494.1% increase year-over-year [4] - Infusion Therapies and Technologies net sales were $1.02 billion, below the estimated $1.08 billion, representing a -4.4% change compared to the previous year [4] Stock Performance - Baxter's shares have returned -4% over the past month, contrasting with the Zacks S&P 500 composite's +3.6% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Baxter International Inc. due to allegations of false and misleading statements regarding the safety and efficacy of its Novum LVP product, which has led to significant investor losses [3][5][6]. Group 1: Legal Investigation and Class Action - The firm is reminding investors of the December 15, 2025 deadline to seek the role of lead plaintiff in a federal securities class action against Baxter [3]. - Investors who purchased Baxter securities between February 23, 2022, and July 30, 2025, are encouraged to discuss their legal rights with the firm [1][3]. Group 2: Allegations Against Baxter - The complaint alleges that Baxter and its executives violated federal securities laws by failing to disclose systemic defects in the Novum LVP, which caused malfunctions and posed serious risks to patients [5]. - Specific issues cited include underinfusion, overinfusion, and complete non-delivery of fluids, along with inadequate remedial measures taken by Baxter [5]. - The true extent of the issues was revealed on July 31, 2025, when Baxter announced a voluntary pause in shipments and installations of the Novum LVP, resulting in a 22.4% drop in stock price [6]. Group 3: Investor Participation - The lead plaintiff in the class action will be the investor with the largest financial interest who is typical of class members [7]. - Any member of the putative class can move the court to serve as lead plaintiff or choose to remain an absent class member without affecting their ability to share in any recovery [7]. Group 4: Contact Information - Faruqi & Faruqi encourages anyone with information regarding Baxter's conduct, including whistleblowers and former employees, to contact the firm [8].

Financial Data and Key Metrics Changes - Third quarter 2025 global sales from continuing operations totaled $2.8 billion, increasing 5% on a reported basis and 2% on an operational basis [17] - Total company adjusted earnings from continuing operations were $0.69 per share, reflecting a 41% increase versus the prior year [31] - Adjusted operating margin from continuing operations was 14.9%, improving 40 basis points compared to the prior year [28] Business Line Data and Key Metrics Changes - Sales in the Medical Products & Therapies (MPT) segment were $1.3 billion, declining 1% due to softness in Infusion Therapies and Technologies [18] - Infusion Therapies and Technologies division sales totaled $1 billion, declining 4% primarily due to lower infusion pump sales [18] - Advanced Surgery sales grew 11% globally, totaling $306 million, driven by strong demand for hemostats and sealants [20] - Healthcare Systems & Technologies (HST) sales increased 2% to $773 million, with Care and Connectivity Solutions growing 3% [23] - Pharmaceuticals segment sales totaled $632 million, increasing 7%, with Injectables and Anesthesia division growing 3% [25] Market Data and Key Metrics Changes - U.S. demand for IV Solutions remains below pre-Hurricane Helene levels, with expectations for further recovery at a moderate pace [20] - Total U.S. capital orders for Care and Connectivity Solutions increased 30% compared to the prior year [24] - The company has not observed a slowdown in U.S. hospital capital spending despite broader macroeconomic uncertainty [24] Company Strategy and Development Direction - The company is focusing on stabilizing business areas that require increased attention, strengthening the balance sheet, and driving a culture of continuous improvement [11][14] - A new growth and performance system, Baxter GPS, has been launched to drive continuous improvement and efficiency [14] - The company plans to reduce the quarterly dividend to $0.01 per share to free up cash for deleveraging [13][32] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that current performance is unsatisfactory and emphasizes the need for immediate actions and long-term solutions [9] - The company expects operational sales growth of 1%-2% for 2025, reflecting a reduction from prior expectations [34] - Management remains confident in the strength of the IV Solutions business over the medium and long term [20][76] Other Important Information - The company is actively working to resolve issues related to the Novum IQ Large Volume Pump, which has led to a hold on deliveries and installations [12][19] - The adjusted tax rate for the quarter was 5.1%, driven by the release of reserves and discrete benefits [31] Q&A Session Summary Question: Vision for Baxter and future changes - Management emphasizes a focus on stabilizing business areas, strengthening the balance sheet, and driving continuous improvement through the new GPS system [40][41] Question: Potential for growth in 2026 - Management anticipates growth but does not provide specific guidance for 2026, highlighting the importance of customer relationships and market dynamics [44] Question: Impact of Novum on guidance - The hold on Novum is affecting sales, and management is working urgently to address outstanding field actions [58] Question: Free cash flow generation - Management expects continued positive free cash flow, particularly in the fourth quarter, and is focused on improving working capital [63][64] Question: Hospital CapEx trends - Management has not observed a slowdown in hospital capital spending, with robust order growth in the capital business [78]

Financial Data and Key Metrics Changes - Third quarter 2025 global sales from continuing operations totaled $2.8 billion, increasing 5% on a reported basis and 2% on an operational basis [17] - Adjusted earnings from continuing operations were $0.69 per share, reflecting a 41% increase versus the prior year [30] - Adjusted operating margin on a continuing operations basis was 14.9%, improving 40 basis points compared to the prior year [29] Business Line Data and Key Metrics Changes - Sales in the Medical Products & Therapies (MPT) segment were $1.3 billion, declining 1% due to softness in Infusion Therapies and Technologies [18] - Infusion Therapies and Technologies division sales totaled $1 billion, declining 4% primarily due to lower infusion pump sales [18] - Advanced Surgery sales totaled $306 million, growing 11% globally, driven by strong demand for hemostats and sealants [20] - Pharmaceuticals segment sales totaled $632 million, increasing 7%, with Injectables and Anesthesia division growing 3% [24] Market Data and Key Metrics Changes - U.S. demand for IV Solutions remains below pre-Hurricane Helene levels, with expectations for further recovery at a moderate pace [20] - Total U.S. capital orders for Care and Connectivity Solutions increased 30% compared to the prior year, indicating robust demand [23] - The company anticipates continued softness in specialty mix products within Pharmaceuticals, impacting overall growth [33] Company Strategy and Development Direction - The company is focusing on stabilizing business areas that require increased attention, strengthening the balance sheet, and driving a culture of continuous improvement [11][14] - A reduction in the quarterly dividend to $0.01 per share is planned to free up cash for deleveraging [13][31] - The company plans to launch an Investor Day in 2026 to provide deeper insights into long-term strategy and financial outlook [40] Management's Comments on Operating Environment and Future Outlook - Management acknowledges current performance challenges and emphasizes the need for immediate actions and long-term solutions [9] - The company expects operational sales growth of 1 to 2% for 2025, reflecting updated expectations due to evolving business dynamics [33] - Management remains confident in the strength of the IV Solutions business over the medium and long term despite current challenges [20][76] Other Important Information - The company has undergone significant transformation in recent years, becoming more streamlined and focused [11] - The introduction of Baxter GPS, a new growth and performance system, aims to drive continuous improvement across the organization [14] Q&A Session Questions and Answers Question: Vision for Baxter and future changes - Management emphasizes a focus on stabilizing business areas, strengthening the balance sheet, and driving a culture of continuous improvement [39][40] Question: Potential for positive growth in 2026 - Management anticipates growth but is not providing specific guidance for 2026 at this time [43] Question: Impact of Novum on guidance - The hold on Novum IQ Large Volume Pump is affecting sales, leading to customer evaluations of alternative solutions [57] Question: Free cash flow generation - Management expects continued positive free cash flow, particularly in the fourth quarter, and is focused on improving working capital [63][64] Question: Hospital CapEx and political impacts - There has been no observed slowdown in hospital capital spending despite political uncertainties, with robust order growth reported [78]