Wall Street analysts expect Baxter International (NYSE:BAX) to report earnings of $0.71 per share for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Baxter International’s earnings, with the highest EPS estimate coming in at $0.72 and the lowest estimate coming in at $0.70. Baxter International reported earnings of $0.63 per share in the same quarter last year, which indicates a positive year over year growth rate of 12.7%. The business is expected to report its next quarterly earnings results on Wednesday, July 25th.
On average, analysts expect that Baxter International will report full year earnings of $2.89 per share for the current fiscal year, with EPS estimates ranging from $2.85 to $2.90. For the next fiscal year, analysts forecast that the company will report earnings of $3.22 per share, with EPS estimates ranging from $3.15 to $3.30. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Baxter International.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, April 26th. The medical instruments supplier reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.08. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Baxter International had a net margin of 7.75% and a return on equity of 15.70%. Baxter International’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 EPS.
A number of analysts recently weighed in on BAX shares. BMO Capital Markets increased their price target on shares of Baxter International from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Barclays increased their price target on shares of Baxter International from $73.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Royal Bank of Canada reiterated a “hold” rating and set a $72.00 price target on shares of Baxter International in a research note on Friday, February 2nd. Citigroup increased their price target on shares of Baxter International from $66.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 6th. Finally, Deutsche Bank upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Tuesday, February 20th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Baxter International presently has an average rating of “Buy” and a consensus price target of $73.13.
Shares of NYSE:BAX opened at $72.53 on Wednesday. The firm has a market cap of $38.77 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 1.87 and a beta of 0.81. The company has a quick ratio of 2.03, a current ratio of 2.63 and a debt-to-equity ratio of 0.39. Baxter International has a 1-year low of $56.82 and a 1-year high of $73.04.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 1st will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.76 dividend on an annualized basis and a yield of 1.05%. This is an increase from Baxter International’s previous quarterly dividend of $0.16. Baxter International’s dividend payout ratio is presently 25.81%.
Baxter International declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 20th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Peter S. Hellman sold 3,760 shares of the stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $64.74, for a total value of $243,422.40. Following the completion of the transaction, the director now owns 25,522 shares in the company, valued at approximately $1,652,294.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carole J. Shapazian sold 4,990 shares of the stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $66.05, for a total transaction of $329,589.50. The disclosure for this sale can be found here. Insiders sold a total of 79,094 shares of company stock valued at $5,467,295 in the last quarter. Insiders own 0.05% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in BAX. Winslow Capital Management LLC purchased a new position in shares of Baxter International in the 4th quarter valued at about $178,651,000. HealthCor Management L.P. purchased a new position in shares of Baxter International in the 4th quarter valued at about $111,504,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Baxter International in the 4th quarter valued at about $74,517,000. Renaissance Technologies LLC increased its holdings in shares of Baxter International by 217.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,486,913 shares of the medical instruments supplier’s stock valued at $96,114,000 after purchasing an additional 1,018,800 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Baxter International by 103.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,652,618 shares of the medical instruments supplier’s stock valued at $107,487,000 after purchasing an additional 841,733 shares in the last quarter. Institutional investors and hedge funds own 83.54% of the company’s stock.
Baxter International Company Profile
Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.
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