Zacks: Analysts expect Baxter International Inc. (NYSE: BAX) to report earnings of $0.88 per share
Brokerages expect Baxter International Inc. (NYSE: BAX – Get a rating) will report earnings of $0.88 per share for the current quarter, according to Zacks. Seven analysts provided earnings estimates for Baxter International, with the lowest EPS estimate of $0.87 and the highest estimate of $0.89. Baxter International reported earnings per share of $0.80 in the same quarter last year, suggesting a positive 10% year-over-year growth rate. The company is due to announce its next results on Monday, January 1.
According to Zacks, analysts expect Baxter International to report annual earnings of $4.16 per share for the current fiscal year, with EPS estimates ranging from $4.12 to $4.18. For next year, analysts expect the company to post earnings of $4.73 per share, with EPS estimates ranging from $4.53 to $4.85. Zacks earnings per share calculations are an average average based on a survey of analysts who follow Baxter International.
Baxter International (NYSE: BAX – Get a rating) last released its quarterly earnings data on Thursday, April 28. The medical device supplier reported earnings per share of $0.93 for the quarter, beating the consensus estimate of $0.80 by $0.13. Baxter International had a return on equity of 21.59% and a net margin of 7.80%. The company posted revenue of $3.71 billion in the quarter, versus $3.68 billion expected by analysts. In the same quarter last year, the company posted EPS of $0.76. The company’s revenue increased 25.8% year over year.
BAX has been the subject of a number of research analyst reports. Goldman Sachs Group downgraded Baxter International from a “neutral” rating to a “sell” rating and lowered its target price for the company from $88.00 to $77.00 in a Monday, April 4 research note. . Wells Fargo & Company lowered its price target on Baxter International from $95.00 to $93.00 and set an “overweight” rating for the company in a Friday, Feb. 18 research note. TheStreet upgraded Baxter International from a “b-” rating to a “c” rating in a Thursday, April 28 research note. StockNews.com launched coverage on Baxter International in a research note on Thursday, March 31. They issued a “holding” rating for the company. To finish, Zacks Investment Research upgraded Baxter International from a “sell” rating to a “hold” rating and set a target price of $77.00 for the company in a Tuesday, May 10 research note. One research analyst rated the stock with a sell rating, four gave the stock a hold rating, and eleven gave the stock a buy rating. According to data from MarketBeat.com, Baxter International currently has a consensus buy rating and a consensus target price of $89.92.
NYSE Stock Exchange opened at $72.54 on Friday. The stock has a market capitalization of $36.53 billion, a P/E ratio of 34.71, a price-to-earnings growth ratio of 1.63 and a beta of 0.62. The company has a debt ratio of 1.84, a quick ratio of 1.45 and a current ratio of 2.10. The stock has a 50-day simple moving average of $75.01 and a two-hundred-day simple moving average of $80.25. Baxter International has a fifty-two week minimum of $69.71 and a fifty-two week maximum of $89.70.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Friday, June 3 will receive a dividend of $0.29. This is an increase from Baxter International’s previous quarterly dividend of $0.28. This represents a dividend of $1.16 on an annualized basis and a dividend yield of 1.60%. The ex-date of this dividend is Thursday, June 2. Baxter International’s dividend payout ratio (DPR) is 55.50%.
In other news, Director Albert PL Stroucken sold 4,020 shares of the company in a trade on Tuesday, April 5. The stock was sold at an average price of $76.02, for a total value of $305,600.40. As a result of the transaction, the administrator now directly owns 27,629 shares of the company, valued at approximately $2,100,356.58. The transaction was disclosed in a document filed with the SEC, accessible via this link. Insiders of the company own 0.21% of the shares of the company.
Several hedge funds have recently increased or reduced their holdings in BAX. Geode Capital Management LLC increased its position in Baxter International by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 8,719,597 shares of the medical device supplier valued at $746,523,000 after purchasing an additional 540,182 shares last quarter. UBS Asset Management Americas Inc. increased its position in Baxter International by 0.9% during the third quarter. UBS Asset Management Americas Inc. now owns 2,551,540 shares of the medical device supplier valued at $205,220,000 after purchasing an additional 22,839 shares last quarter. Parametric Portfolio Associates LLC increased its position in Baxter International by 5.9% during the fourth quarter. Parametric Portfolio Associates LLC now owns 2,024,918 shares of the medical device supplier valued at $173,819,000 after purchasing an additional 113,578 shares last quarter. Neuberger Berman Group LLC increased its position in Baxter International by 2,202.6% during the first quarter. Neuberger Berman Group LLC now owns 1,650,719 shares of the medical device supplier valued at $128,029,000 after purchasing an additional 1,579,029 shares last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Baxter International by 3.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,496,291 shares of the medical device supplier valued at $116,022,000 after buying an additional 44,164 shares last quarter. Hedge funds and other institutional investors own 86.65% of the company’s shares.
About Baxter International (Get a rating)
Baxter International Inc, through its subsidiaries, develops and supplies a portfolio of healthcare products worldwide. The Company offers peritoneal dialysis and hemodialysis, as well as additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets and drug reconstitution devices; remix and oncology drug platforms, inhaled anesthesia and intensive care products and pharmaceutical preparation services; parenteral nutritional therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and prevention of adhesions; and ongoing renal replacement therapies and other organ support therapies focused in the intensive care unit.
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
Get news and reviews for Baxter International Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Baxter International and related companies with MarketBeat.com’s FREE daily email newsletter.