Baxter International Inc. (NYSE:BAX) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.56-0.59 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.60.
Several research firms have commented on BAX. Stifel Nicolaus reaffirmed a hold rating and issued a $65.00 price target on shares of Baxter International in a report on Thursday, October 26th. Barclays PLC increased their price objective on shares of Baxter International from $70.00 to $73.00 and gave the company an overweight rating in a report on Thursday, October 26th. Morgan Stanley raised their price target on shares of Baxter International from $59.00 to $62.00 and gave the stock an equal weight rating in a report on Thursday, October 26th. Zacks Investment Research raised shares of Baxter International from a hold rating to a buy rating and set a $72.00 price objective for the company in a research report on Tuesday, October 24th. Finally, Cowen and Company set a $68.00 price objective on shares of Baxter International and gave the stock a hold rating in a research report on Sunday, October 15th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Buy and an average target price of $67.00.
Shares of Baxter International Inc. (NYSE BAX) traded down $1.35 during mid-day trading on Friday, hitting $64.04. 4,103,100 shares of the stock traded hands, compared to its average volume of 2,682,316. The stock has a market capitalization of $35,626.55, a P/E ratio of 27.02, a PEG ratio of 2.19 and a beta of 0.68. The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37. Baxter International Inc. has a fifty-two week low of $43.13 and a fifty-two week high of $65.70.
Baxter International (NYSE:BAX) last posted 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 firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate 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 was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 EPS. research analysts forecast that Baxter International Inc. will post 2.43 EPS for the current fiscal year.
In other Baxter International news, SVP Giuseppe Accogli sold 12,670 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $60.96, for a total value of $772,363.20. Following the completion of the transaction, the senior vice president now directly owns 33,286 shares in the company, valued at $2,029,114.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Third Point Llc sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $64.23, for a total transaction of $321,150,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,035,050 shares of company stock worth $323,308,587. Corporate insiders own 0.05% of the company’s stock.
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Baxter International Company Profile
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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