US Healthcare Stocks Face $700 Billion Market Cap Loss Ahead of Earnings

On the 29th, Baxter International Inc. (NYSE: BAX) saw its share price plunge 5.8% on the New York Stock Exchange, closing at $16.90.

That day, the company’s market capitalization stood at roughly $8.7 billion (about KRW 12 trillion), with approximately $480 million (around KRW 700 billion) erased in a single session.

Amid a cost-structure overhaul, Baxter reported adjusted earnings per share (EPS) of $0.44 for the fourth quarter of 2025, below the consensus estimate of $0.53. It also forecast near-flat revenue growth for 2026, signaling a slowdown in its operating momentum.

To strengthen its balance sheet and reduce debt, the company sharply cut its quarterly dividend to $0.01 per share from $0.17. Some analysts are now watching closely to see if margins rebound in the first-quarter results due before the market opens this Thursday.

Headquartered in Illinois, Baxter International is a global medical-technology and pharmaceutical firm supplying products across hospital infrastructure, including IV and transfusion therapies, patient-monitoring equipment, and renal-dialysis solutions.

Following its acquisition of major hospital-equipment maker Hillrom and the divestiture of its renal-care business, elevated leverage and weakening profitability have shaken investor confidence as the company continues portfolio realignment and cost-reduction efforts.