Equities research analysts forecast that Baxter International Inc (NYSE:BAX) will post earnings of $0.62 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Baxter International’s earnings, with estimates ranging from $0.61 to $0.63. Baxter International reported earnings per share of $0.58 in the same quarter last year, which indicates a positive year-over-year growth rate of 6.9%. The company is scheduled to issue its next earnings report before the market opens on Thursday, April 26th.
According to Zacks, analysts expect that Baxter International will report full year earnings of $2.78 per share for the current year, with EPS estimates ranging from $2.75 to $2.80. For the next financial year, analysts expect that the firm will report earnings of $3.14 per share, with EPS estimates ranging from $3.08 to $3.20. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Baxter International.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 6.79% and a return on equity of 15.11%. The firm had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the previous year, the company posted $0.57 EPS. The company’s revenue was up 4.9% compared to the same quarter last year.
BAX has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Bank of America raised shares of Baxter International from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Evercore ISI initiated coverage on shares of Baxter International in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $71.00 target price on the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $72.00 target price on shares of Baxter International in a research report on Friday, February 2nd. Finally, ValuEngine cut shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.93.
In other news, Director James R. Gavin III sold 18,750 shares of the stock in a transaction dated Wednesday, March 28th. The shares were sold at an average price of $64.56, for a total transaction of $1,210,500.00. Following the sale, the director now owns 36,398 shares of the company’s stock, valued at $2,349,854.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carole J. Shapazian sold 4,990 shares of the stock in a transaction dated Friday, March 2nd. The stock was 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 have sold 27,500 shares of company stock worth $1,783,512 in the last three months. Corporate insiders own 0.07% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Robecosam AG acquired a new stake in shares of Baxter International during the fourth quarter worth about $103,000. Family Capital Trust Co purchased a new stake in shares of Baxter International during the fourth quarter worth approximately $103,000. Community Bank N.A. increased its stake in shares of Baxter International by 152.7% during the fourth quarter. Community Bank N.A. now owns 1,655 shares of the medical instruments supplier’s stock worth $107,000 after buying an additional 1,000 shares during the period. Trustcore Financial Services LLC purchased a new stake in shares of Baxter International during the fourth quarter worth approximately $131,000. Finally, Truewealth LLC purchased a new stake in shares of Baxter International during the fourth quarter worth approximately $159,000. 85.56% of the stock is currently owned by institutional investors and hedge funds.
NYSE BAX traded up $0.90 during trading hours on Monday, reaching $64.79. The company had a trading volume of 2,733,435 shares, compared to its average volume of 3,293,757. Baxter International has a 1-year low of $52.27 and a 1-year high of $72.58. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.57 and a quick ratio of 2.05. The stock has a market capitalization of $34,509.47, a P/E ratio of 26.13, a PEG ratio of 1.74 and a beta of 0.80.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 2nd were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, March 1st. This represents a $0.64 annualized dividend and a dividend yield of 0.99%. Baxter International’s dividend payout ratio is presently 25.81%.
Baxter International announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 20th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
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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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