Baxter International (NYSE:BAX) Updates FY 2024 Earnings Guidance

Baxter International (NYSE:BAX) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 2.930-3.010 for the period, compared to the consensus EPS estimate of 2.920. The company issued revenue guidance of $15.3 billion-$15.3 billion, compared to the consensus revenue estimate of $15.1 billion. Baxter International also updated its FY24 guidance to $2.93-3.01 EPS.

Analyst Ratings Changes

Several analysts recently weighed in on BAX shares. StockNews.com upgraded Baxter International from a hold rating to a buy rating in a research note on Thursday, August 1st. Citigroup reduced their price target on Baxter International from $38.00 to $37.00 and set a neutral rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price target on shares of Baxter International from $44.00 to $42.00 and set a neutral rating on the stock in a research note on Wednesday. The Goldman Sachs Group raised their price objective on shares of Baxter International from $36.00 to $40.00 and gave the company a neutral rating in a research note on Thursday. Finally, TD Cowen downgraded shares of Baxter International from a buy rating to a hold rating and set a $40.00 target price on the stock. in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Baxter International presently has a consensus rating of Hold and an average target price of $41.73.

Baxter International Stock Performance

Baxter International stock traded down $0.28 during trading on Friday, reaching $37.14. The company had a trading volume of 3,892,882 shares, compared to its average volume of 4,264,026. The firm has a market capitalization of $18.93 billion, a price-to-earnings ratio of 7.20, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. The company has a current ratio of 1.48, a quick ratio of 1.01 and a debt-to-equity ratio of 1.35. The firm’s 50-day simple moving average is $34.47 and its 200 day simple moving average is $37.91. Baxter International has a 52 week low of $31.01 and a 52 week high of $44.01.

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

Baxter International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.12%. The ex-dividend date is Friday, August 30th. Baxter International’s dividend payout ratio (DPR) 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.