For the year to date shares, of Baxter International at $47, are up 28%. The medical products company reports third-quarter results on Tuesday. Can management inject more growth into the top line?
Last year, Baxter spun off its biopharma division, called Baxalta. Baxalta was later purchased by Shire (SHPG) . for $32 billion. Freed from Baxalta, Baxter can now pay down debt, buy back shares and pay down pension liabilities. The company ended the first quarter with $3.4 billion of gross debt, a reduction of $6 billion. Net debt fell from $4.4 billion to end the quarter at $1.2 billion.
Last year, Baxter spun off its biopharma division, called Baxalta. Baxalta was later purchased by Shire (SHPG) . for $32 billion. Freed from Baxalta, Baxter can now pay down debt, buy back shares and pay down pension liabilities. The company ended the first quarter with $3.4 billion of gross debt, a reduction of $6 billion. Net debt fell from $4.4 billion to end the quarter at $1.2 billion.
