Baxter International Forecasted to Post FY2020 Earnings of $3.70 Per Share (BAX)

Baxter International (NYSE:BAX) – Equities researchers at Leerink Swann upped their FY2020 earnings per share estimates for shares of Baxter International in a research report issued on Tuesday, May 22nd. Leerink Swann analyst D. Antalffy now forecasts that the medical instruments supplier will earn $3.70 per share for the year, up from their prior estimate of $3.55. Leerink Swann also issued estimates for Baxter International’s FY2021 earnings at $4.10 EPS and FY2022 earnings at $4.50 EPS.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, April 26th. The medical instruments supplier reported $0.70 earnings per share (EPS) for the quarter, topping the 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 return on equity of 15.70% and a net margin of 7.75%. Baxter International’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 earnings per share.

Several other equities analysts have also recently issued reports on the company. Bank of America lifted their price objective on Baxter International from $73.00 to $83.00 and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Thursday, May 17th. Piper Jaffray Companies assumed coverage on Baxter International in a report on Thursday, May 17th. They set an “overweight” rating and a $77.00 price objective for the company. Citigroup lifted their price objective on Baxter International from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. Finally, Stifel Nicolaus lifted their price objective on Baxter International from $71.00 to $72.00 and gave the stock a “hold” rating in a report on Monday, April 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $73.13.

Shares of Baxter International opened at $71.72 on Wednesday, Marketbeat Ratings reports. The firm has a market cap of $38.61 billion, a P/E ratio of 28.92, a PEG ratio of 1.86 and a beta of 0.81. Baxter International has a 1 year low of $56.82 and a 1 year high of $72.58. The company has a quick ratio of 2.03, a current ratio of 2.63 and a debt-to-equity ratio of 0.39.

Several large investors have recently made changes to their positions in BAX. Winslow Capital Management LLC purchased a new stake in shares of Baxter International in the fourth quarter valued at $178,651,000. HealthCor Management L.P. purchased a new stake in shares of Baxter International in the fourth quarter valued at $111,504,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Baxter International in the fourth quarter valued at $74,517,000. Renaissance Technologies LLC grew its position in shares of Baxter International by 217.6% in the fourth 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 during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Baxter International by 103.8% in the first 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 during the period. 83.54% of the stock is owned by institutional investors and hedge funds.

In other news, Director James R. Gavin III sold 18,750 shares of Baxter International stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $64.56, for a total value of $1,210,500.00. Following the completion of 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 document filed with the SEC, which is available through the SEC website. Also, SVP Brik V. Eyre sold 20,000 shares of Baxter International stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $70.57, for a total value of $1,411,400.00. Following the completion of the sale, the senior vice president now directly owns 85,115 shares of the company’s stock, valued at approximately $6,006,565.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,500 shares of company stock valued at $3,194,912. Insiders own 0.07% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Stockholders of record on Friday, June 1st will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.06%. This is a boost from Baxter International’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, May 31st. Baxter International’s payout ratio is 25.81%.

Baxter International announced that its Board of Directors has approved a share buyback plan on Tuesday, February 20th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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.

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

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