Baxter International (NYSE:BAX) Issues Q3 2024 Earnings Guidance

Baxter International (NYSE:BAX) updated its third quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.770-0.790 for the period, compared to the consensus EPS estimate of 0.740. The company issued revenue guidance of $3.8 billion-$3.9 billion, compared to the consensus revenue estimate of $3.8 billion. Baxter International also updated its FY 2024 guidance to 2.930-3.010 EPS.

Analysts Set New Price Targets

Several brokerages recently weighed in on BAX. The Goldman Sachs Group assumed coverage on shares of Baxter International in a research report on Thursday, May 30th. They issued a neutral rating and a $36.00 price target on the stock. Morgan Stanley lowered shares of Baxter International from an equal weight rating to an underweight rating and dropped their price objective for the stock from $39.00 to $30.00 in a research note on Monday, July 15th. TD Cowen lowered shares of Baxter International from a buy rating to a hold rating and set a $40.00 price objective for the company. in a research note on Friday, May 10th. Evercore ISI dropped their price objective on shares of Baxter International from $46.00 to $45.00 and set an outperform rating for the company in a research note on Tuesday, July 2nd. Finally, Citigroup dropped their price objective on shares of Baxter International from $38.00 to $37.00 and set a neutral rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $41.70.

Baxter International Stock Up 6.6 %

NYSE:BAX opened at $36.93 on Wednesday. Baxter International has a 1-year low of $31.01 and a 1-year high of $44.31. The company has a 50-day moving average of $34.32 and a 200 day moving average of $37.92. The firm has a market cap of $18.82 billion, a PE ratio of 7.10, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.48 and a quick ratio of 1.01.

Baxter International (NYSE:BAX) last announced its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, research analysts anticipate that Baxter International will post 2.91 EPS for the current fiscal year.

Baxter International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.14%. Baxter International’s dividend payout ratio is presently 22.31%.

About Baxter International

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.