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

Baxter International (NYSE:BAX) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 2.900-2.940 for the period, compared to the consensus EPS estimate of 2.950. The company issued revenue guidance of $15.0 billion-$15.1 billion, compared to the consensus revenue estimate of $15.2 billion. Baxter International also updated its Q4 guidance to $0.77-$0.81 EPS.

Baxter International Trading Down 3.9 %

BAX traded down $1.40 on Friday, reaching $34.64. 6,636,750 shares of the company traded hands, compared to its average volume of 2,694,846. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 1.35. The company has a market cap of $17.67 billion, a P/E ratio of 7.13, a price-to-earnings-growth ratio of 1.22 and a beta of 0.60. The firm has a fifty day simple moving average of $37.39 and a two-hundred day simple moving average of $36.12. Baxter International has a one year low of $32.48 and a one year high of $44.01.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. Baxter International’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share. As a group, equities research analysts expect that Baxter International will post 2.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

BAX has been the subject of several recent research reports. StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company dropped their target price on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. Citigroup boosted their price target on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut their target price on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group raised their price target on shares of Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Baxter International has a consensus rating of “Hold” and a consensus price target of $41.20.

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.