Baxter International (NYSE:BAX) Updates Q2 Earnings Guidance

Baxter International (NYSE:BAX) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.65-$0.67 for the period, compared to the consensus EPS 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.

Baxter International Stock Performance

NYSE BAX traded down $0.02 on Friday, hitting $36.89. The stock had a trading volume of 6,246,789 shares, compared to its average volume of 3,358,723. The company’s 50-day moving average is $41.53 and its two-hundred day moving average is $38.75. The stock 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 company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 1.31. Baxter International has a one year low of $31.01 and a one year high of $50.21.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 EPS for the quarter, beating 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 firm had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period last year, the firm earned $0.59 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, analysts expect that Baxter International will post 2.9 earnings per share for the current year.

Baxter International Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on BAX shares. Barclays upped their price target on shares of Baxter International from $52.00 to $54.00 and gave the stock an overweight rating in a research note on Monday, February 12th. Bank of America increased their price target on Baxter International from $42.00 to $45.00 and gave the company a neutral rating in a research note on Tuesday, March 5th. StockNews.com raised Baxter International from a hold rating to a buy rating in a research note on Friday, January 19th. UBS Group decreased their target price on Baxter International from $40.00 to $36.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Baxter International from $38.00 to $44.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Baxter International currently has a consensus rating of Hold and a consensus target price of $46.30.

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.