Baxter International (BAX) Expected to Announce Earnings of $0.71 Per Share

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.

Get a free copy of the Zacks research report on Baxter International (BAX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Baxter International (NYSE:BAX)

Receive News & Ratings for Baxter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply