Baxter International (NYSE:BAX) Updates Q2 Earnings Guidance

Baxter International (NYSE:BAX) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.65-$0.67 for the period, compared to the consensus estimate of $0.68. The company issued revenue guidance of $3.74 billion, compared to the consensus revenue estimate of $3.77 billion. Baxter International also updated its FY24 guidance to $2.88-$2.98 EPS.

Analysts Set New Price Targets

BAX has been the subject of a number of recent research reports. Citigroup raised their price target on Baxter International from $41.00 to $44.00 and gave the stock a neutral rating in a research note on Wednesday, April 3rd. Barclays lifted their target price on shares of Baxter International from $52.00 to $54.00 and gave the company an overweight rating in a research note on Monday, February 12th. UBS Group dropped their price target on shares of Baxter International from $40.00 to $36.00 and set a neutral rating on the stock in a research note on Tuesday, February 6th. JPMorgan Chase & Co. lifted their price objective on shares of Baxter International from $38.00 to $44.00 and gave the company a neutral rating in a research note on Friday, February 9th. Finally, Bank of America increased their target price on shares of Baxter International from $42.00 to $45.00 and gave the stock a neutral rating in a research report on Tuesday, March 5th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $46.30.

Baxter International Price Performance

NYSE BAX traded down $0.02 during trading on Friday, reaching $36.89. 6,246,789 shares of the company traded hands, compared to its average volume of 3,358,723. Baxter International has a 1-year low of $31.01 and a 1-year high of $50.21. The company has a market cap of $18.73 billion, a price-to-earnings ratio of 7.09, a P/E/G ratio of 1.98 and a beta of 0.64. The stock’s 50 day moving average price is $41.53 and its two-hundred day moving average price is $38.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.04 and a current ratio of 1.48.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. Baxter International had a return on equity of 18.97% and a net margin of 17.79%. The business had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter last year, the company earned $0.59 EPS. Baxter International’s revenue was down 1.6% on a year-over-year basis. As a group, analysts anticipate that Baxter International will post 2.9 EPS for the current year.

Baxter International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $0.29 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.16 annualized dividend and a dividend yield of 3.14%. Baxter International’s dividend payout ratio is presently 22.31%.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.