Brokerages Anticipate Baxter International Inc. (NYSE:BAX) Will Post Quarterly Sales of $3.11 Billion

Wall Street brokerages predict that Baxter International Inc. (NYSE:BAX) will announce sales of $3.11 billion for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Baxter International’s earnings. The lowest sales estimate is $3.11 billion and the highest is $3.12 billion. Baxter International posted sales of $2.72 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 14.3%. The company is expected to report its next quarterly earnings report on Thursday, July 29th.

On average, analysts expect that Baxter International will report full year sales of $12.67 billion for the current financial year, with estimates ranging from $12.51 billion to $12.77 billion. For the next financial year, analysts forecast that the company will report sales of $13.31 billion, with estimates ranging from $13.23 billion to $13.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Baxter International.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, April 28th. The medical instruments supplier reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.12. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $2.89 billion. Baxter International had a return on equity of 18.34% and a net margin of 9.04%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS.

A number of equities analysts have weighed in on BAX shares. Oppenheimer reiterated a “buy” rating on shares of Baxter International in a research note on Thursday, March 18th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on Baxter International from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, April 30th. Barclays began coverage on Baxter International in a research report on Monday, May 24th. They set an “equal weight” rating and a $93.00 target price on the stock. Citigroup raised their target price on Baxter International from $94.00 to $98.00 in a research report on Friday, April 30th. Finally, Piper Sandler raised their target price on Baxter International from $80.00 to $85.00 and gave the company an “in-line” rating in a research report on Thursday, April 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $91.46.

NYSE BAX opened at $84.09 on Friday. The company’s 50-day moving average is $84.47. The stock has a market cap of $42.28 billion, a price-to-earnings ratio of 40.43, a P/E/G ratio of 2.50 and a beta of 0.68. Baxter International has a fifty-two week low of $74.79 and a fifty-two week high of $91.45. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.46 and a quick ratio of 1.83.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 4th will be issued a dividend of $0.28 per share. This is a boost from Baxter International’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, June 3rd. Baxter International’s payout ratio is currently 36.25%.

In other news, SVP Andrew Frye sold 10,999 shares of Baxter International stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $84.79, for a total transaction of $932,605.21. Following the sale, the senior vice president now owns 9,041 shares of the company’s stock, valued at approximately $766,586.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Albert P. L. Stroucken sold 4,990 shares of Baxter International stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $84.56, for a total transaction of $421,954.40. Following the sale, the director now directly owns 36,886 shares in the company, valued at approximately $3,119,080.16. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Baron Silver Stevens Financial Advisors LLC purchased a new stake in shares of Baxter International during the 4th quarter valued at approximately $34,000. Wealthcare Advisory Partners LLC purchased a new stake in Baxter International in the first quarter valued at approximately $39,000. Navis Wealth Advisors LLC purchased a new stake in Baxter International in the fourth quarter valued at approximately $46,000. Creative Financial Designs Inc. ADV raised its position in Baxter International by 57.7% in the first quarter. Creative Financial Designs Inc. ADV now owns 560 shares of the medical instruments supplier’s stock valued at $47,000 after purchasing an additional 205 shares during the period. Finally, Ellevest Inc. raised its position in Baxter International by 81.4% in the fourth quarter. Ellevest Inc. now owns 604 shares of the medical instruments supplier’s stock valued at $48,000 after purchasing an additional 271 shares during the period. 85.26% of the stock is currently owned by hedge funds and other institutional investors.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company 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.

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

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