The decline came as the S&P 500 rose 0.29% to 7,230.12 while the Dow Jones Industrial Average fell 0.31% to 49,499.27 in a mixed Friday session.
Baxter ended 47.34% below its 52-week high of $32.68, reached on 12 May, and trading volume of 10.9 million shares topped its 50-day average of 9.1 million.
Among peers, Medtronic fell 1.20% to $80.00, Stryker dropped 6.47% to $294.73, while Becton Dickinson edged up 0.18% to $149.31.
Baxter beat earnings estimates but its stock fell. Is its turnaround plan failing to convince investors?
With new tariffs looming, can Baxter protect its margins while navigating a major internal restructuring?