$0.59 EPS Expected for Baxter International Inc. (BAX) This Quarter
Equities research analysts expect Baxter International Inc. (NYSE:BAX) to announce earnings per share of $0.59 for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Baxter International’s earnings, with the lowest EPS estimate coming in at $0.57 and the highest estimate coming in at $0.60. Baxter International posted earnings of $0.57 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.5%. The business is scheduled to report its next quarterly earnings results on Wednesday, February 7th.
On average, analysts expect that Baxter International will report full-year earnings of $2.42 per share for the current financial year, with EPS estimates ranging from $2.38 to $2.45. For the next year, analysts anticipate that the company will report earnings of $2.70 per share, with EPS estimates ranging from $2.62 to $2.85. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Baxter International.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share.
BAX has been the topic of a number of analyst reports. Morgan Stanley reissued an “underweight” rating and issued a $55.00 target price (up previously from $52.00) on shares of Baxter International in a research note on Tuesday, July 25th. Cantor Fitzgerald set a $70.00 target price on shares of Baxter International and gave the company a “buy” rating in a research note on Wednesday, July 26th. Barclays PLC upped their target price on shares of Baxter International from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Cowen and Company reissued a “market perform” rating and issued a $68.00 target price (up previously from $66.00) on shares of Baxter International in a research note on Thursday, July 27th. Finally, Leerink Swann reissued an “outperform” rating and issued a $75.00 target price (up previously from $67.00) on shares of Baxter International in a research note on Thursday, July 27th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $67.00.
Shares of Baxter International (BAX) traded down $1.11 on Wednesday, hitting $63.88. 4,852,524 shares of the stock were exchanged, compared to its average volume of 2,684,560. The firm has a market capitalization of $35,530.00, a price-to-earnings ratio of 26.64, a P/E/G ratio of 2.16 and a beta of 0.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.80 and a quick ratio of 2.22. Baxter International has a 1-year low of $43.13 and a 1-year high of $65.70.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 1.00%. Baxter International’s dividend payout ratio is 34.59%.
In other Baxter International news, Director Thomas T. Stallkamp sold 8,920 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $62.28, for a total transaction of $555,537.60. Following the sale, the director now directly owns 16,263 shares of the company’s stock, valued at $1,012,859.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carole J. Shapazian sold 4,020 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.61, for a total transaction of $247,672.20. Following the sale, the director now directly owns 13,868 shares in the company, valued at $854,407.48. The disclosure for this sale can be found here. Insiders have sold 5,022,380 shares of company stock worth $322,536,224 over the last ninety days. Insiders own 0.05% of the company’s stock.
A number of institutional investors have recently modified their holdings of BAX. Renaissance Technologies LLC grew its stake in shares of Baxter International by 2,859.6% during the first quarter. Renaissance Technologies LLC now owns 1,897,115 shares of the medical instruments supplier’s stock valued at $98,384,000 after purchasing an additional 1,833,015 shares during the last quarter. BlackRock Inc. grew its stake in shares of Baxter International by 1,941.1% during the first quarter. BlackRock Inc. now owns 46,937,709 shares of the medical instruments supplier’s stock valued at $2,434,190,000 after purchasing an additional 44,638,052 shares during the last quarter. United Capital Financial Advisers LLC grew its stake in shares of Baxter International by 1.3% during the first quarter. United Capital Financial Advisers LLC now owns 33,375 shares of the medical instruments supplier’s stock valued at $1,731,000 after purchasing an additional 441 shares during the last quarter. Schwab Charles Investment Management Inc. grew its stake in shares of Baxter International by 3.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,593,978 shares of the medical instruments supplier’s stock valued at $82,664,000 after purchasing an additional 56,170 shares during the last quarter. Finally, HighVista Strategies LLC grew its stake in shares of Baxter International by 53.5% during the first quarter. HighVista Strategies LLC now owns 40,187 shares of the medical instruments supplier’s stock valued at $2,084,000 after purchasing an additional 14,000 shares during the last quarter. 82.85% of the stock is currently owned by hedge funds and other institutional investors.
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About Baxter International
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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