Baxter International Inc. (NYSE:BAX) took a hit today after reporting big profit declines for the fourth quarter and full year 2010.
Shares were down nearly 2 percent today after the Deerfield, Ill.-based medical products giant said fourth-quarter profits were down 26.0 percent to $423.0 million, or 72 cents per diluted share, compared with $572.0 million, or 94 cents per share, during Q3 2009. Profits dropped 35.6 percent in 2010 to $1.42 billion, or $2.39 diluted EPS, compared with $2.21 billion, or $3.59 diluted EPS, in 2009.