Analysts Anticipate Baxter International Inc (BAX) Will Announce Quarterly Sales of $2.62 Billion

Brokerages predict that Baxter International Inc (NYSE:BAX) will announce $2.62 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Baxter International’s earnings, with the lowest sales estimate coming in at $2.61 billion and the highest estimate coming in at $2.67 billion. Baxter International posted sales of $2.48 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.6%. The company is scheduled to report its next quarterly earnings results on Wednesday, April 25th.

On average, analysts expect that Baxter International will report full-year sales of $2.62 billion for the current fiscal year, with estimates ranging from $11.21 billion to $11.40 billion. For the next financial year, analysts forecast that the company will post sales of $11.72 billion per share, with estimates ranging from $11.39 billion to $11.91 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Baxter International.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.77 billion. Baxter International had a return on equity of 15.12% and a net margin of 6.79%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS.

Several research firms have recently weighed in on BAX. Barclays boosted their target price on Baxter International from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. BMO Capital Markets boosted their target price on Baxter International from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Citigroup boosted their target price on Baxter International from $66.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th. Royal Bank of Canada reissued a “hold” rating and issued a $72.00 target price on shares of Baxter International in a report on Friday, February 2nd. Finally, Zacks Investment Research raised Baxter International from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Baxter International currently has an average rating of “Buy” and an average price target of $70.36.

Baxter International (BAX) traded up $0.06 during trading hours on Monday, hitting $66.09. The stock had a trading volume of 1,051,321 shares, compared to its average volume of 3,515,565. The firm has a market cap of $35,980.00, a PE ratio of 50.71, a P/E/G ratio of 1.86 and a beta of 0.78. Baxter International has a twelve month low of $49.01 and a twelve month high of $72.58. The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37.

In other Baxter International news, SVP Giuseppe Accogli sold 28,641 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total transaction of $1,918,947.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeanne K. Mason sold 33,350 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $65.25, for a total value of $2,176,087.50. Following the sale, the senior vice president now directly owns 124,609 shares of the company’s stock, valued at $8,130,737.25. The disclosure for this sale can be found here. 0.05% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Colony Group LLC purchased a new stake in Baxter International during the 3rd quarter valued at approximately $6,966,000. Toronto Dominion Bank raised its stake in shares of Baxter International by 8.6% during the 3rd quarter. Toronto Dominion Bank now owns 212,015 shares of the medical instruments supplier’s stock worth $13,304,000 after buying an additional 16,835 shares in the last quarter. Johnson Financial Group Inc. raised its stake in shares of Baxter International by 15.5% during the 3rd quarter. Johnson Financial Group Inc. now owns 21,038 shares of the medical instruments supplier’s stock worth $1,320,000 after buying an additional 2,825 shares in the last quarter. Sawyer & Company Inc purchased a new position in shares of Baxter International during the 4th quarter worth approximately $327,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of Baxter International by 35.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,413,054 shares of the medical instruments supplier’s stock worth $88,669,000 after buying an additional 372,500 shares in the last quarter. 83.12% of the stock is owned by hedge funds and other institutional investors.

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

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