LIVN - Baxter cut to Sell as Goldman Sachs flags macro concerns on MedTech space

Goldman Sachs has weighed in on the impact of macro factors on the MedTech stocks as the COVID recovery develops into a potential tailwind for a sector hurt by the pandemic’s impact on medical procedures. As part of the analysis, the firm has downgraded Baxter International (NYSE:BAX -3.5%) to Sell from Neutral, noting that the healthcare equipment maker is more exposed to the macro headwinds compared to its peers. Some of the factors highlighted by Amit Hazan and analysts include the company’s heavy exposure to resin costs amid rising oil prices. In addition, the team argues that Baxter (BAX) is also vulnerable to higher freight and logistic costs, given its product mix. Meanwhile, the areas of concern in the base business, namely diminishing vaccine benefit, Pharma competition, and weak renal growth amid COVID-related impact on patient volumes, “further reduce the probability of top-line upside,” the analysts wrote. The price target

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Baxter cut to Sell as Goldman Sachs flags macro concerns on MedTech space