Baxter International (NYSE:BAX) Issues Q4 Earnings Guidance

Baxter International (NYSE:BAX) issued an update on its fourth quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.77-$0.81 for the period, compared to the consensus estimate of $0.85. Baxter International also updated its FY 2024 guidance to 2.900-2.940 EPS.

Wall Street Analysts Forecast Growth

BAX has been the topic of several recent research reports. StockNews.com raised shares of Baxter International from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Citigroup upped their price objective on shares of Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their target price 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, August 7th. The Goldman Sachs Group upped their price target on Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Morgan Stanley downgraded Baxter International from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $39.00 to $30.00 in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.20.

Baxter International Stock Performance

Shares of Baxter International stock opened at $34.64 on Friday. The firm has a market cap of $17.67 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 1.22 and a beta of 0.60. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 1.35. Baxter International has a 52 week low of $32.48 and a 52 week high of $44.01. The business’s fifty day simple moving average is $37.39 and its 200-day simple moving average is $36.12.

Baxter International (NYSE:BAX) last posted its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. Baxter International’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities analysts forecast that Baxter International will post 2.96 earnings per share for the current year.

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.