Baxter International Inc. (NYSE:BAX) Expected to Post Quarterly Sales of $3.11 Billion

Equities analysts forecast that Baxter International Inc. (NYSE:BAX) will post sales of $3.11 billion for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Baxter International’s earnings. The highest sales estimate is $3.12 billion and the lowest is $3.11 billion. Baxter International reported sales of $2.72 billion during the same quarter last year, which indicates a positive year over year growth rate of 14.3%. The firm is expected to issue its next earnings report on Thursday, July 29th.

On average, analysts expect that Baxter International will report full year sales of $12.65 billion for the current year, with estimates ranging from $12.51 billion to $12.77 billion. For the next financial year, analysts expect that the firm will report sales of $13.29 billion, with estimates ranging from $13.17 billion to $13.46 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Baxter International.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, April 28th. The medical instruments supplier reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Baxter International had a net margin of 7.90% and a return on equity of 20.81%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 EPS.

BAX has been the subject of a number of analyst reports. Citigroup upped their price target on Baxter International from $94.00 to $98.00 in a report on Friday, April 30th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on shares of Baxter International from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, April 30th. Raymond James lowered their target price on Baxter International from $88.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, February 5th. Oppenheimer reiterated a “buy” rating on shares of Baxter International in a research note on Thursday, March 18th. Finally, Piper Sandler upped 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, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $91.33.

In other news, Director Albert P. L. Stroucken sold 4,990 shares of the business’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $84.56, for a total value of $421,954.40. Following the sale, the director now owns 36,886 shares of the company’s stock, valued at approximately $3,119,080.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew Frye sold 10,999 shares of Baxter International stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $84.79, for a total value of $932,605.21. Following the transaction, the senior vice president now directly owns 9,041 shares in the company, valued at $766,586.39. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank raised its holdings in Baxter International by 11.3% during the 4th quarter. Toronto Dominion Bank now owns 326,132 shares of the medical instruments supplier’s stock worth $26,167,000 after buying an additional 33,216 shares during the period. Assetmark Inc. raised its holdings in shares of Baxter International by 3.4% during the fourth quarter. Assetmark Inc. now owns 55,384 shares of the medical instruments supplier’s stock worth $4,444,000 after acquiring an additional 1,808 shares in the last quarter. Trust Co. of Toledo NA OH boosted its position in Baxter International by 0.7% during the fourth quarter. Trust Co. of Toledo NA OH now owns 36,632 shares of the medical instruments supplier’s stock valued at $2,939,000 after purchasing an additional 270 shares during the last quarter. Tompkins Financial Corp raised its position in Baxter International by 28.7% during the fourth quarter. Tompkins Financial Corp now owns 4,796 shares of the medical instruments supplier’s stock valued at $385,000 after acquiring an additional 1,069 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in Baxter International by 8.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,430,083 shares of the medical instruments supplier’s stock valued at $114,749,000 after acquiring an additional 109,585 shares during the last quarter. 82.89% of the stock is currently owned by institutional investors.

BAX stock opened at $87.44 on Wednesday. The firm has a market cap of $43.97 billion, a P/E ratio of 49.68, a price-to-earnings-growth ratio of 2.53 and a beta of 0.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.06 and a current ratio of 2.64. Baxter International has a 1 year low of $74.79 and a 1 year high of $91.58. The stock has a 50-day simple moving average of $84.67 and a 200-day simple moving average of $80.37.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 4th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.28%. This is a positive change from Baxter International’s previous quarterly dividend of $0.25. Baxter International’s payout ratio is 29.61%.

About Baxter International

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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