Baxter International (NYSE:BAX) Releases Earnings Results, Beats Expectations By $0.04 EPS

Baxter International (NYSE:BAX) posted its quarterly earnings data on Thursday. The medical instruments supplier reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04, Briefing.com reports. Baxter International had a return on equity of 18.97% and a net margin of 17.79%. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the previous year, the business earned $0.59 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. Baxter International updated its Q2 guidance to $0.65-$0.67 EPS and its FY24 guidance to $2.88-$2.98 EPS.

Baxter International Stock Performance

NYSE:BAX opened at $36.89 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.48 and a quick ratio of 1.04. The firm has a market cap of $18.73 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 1.98 and a beta of 0.64. The firm’s fifty day moving average price is $41.53 and its 200 day moving average price is $38.75. Baxter International has a 1-year low of $31.01 and a 1-year high of $50.21.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $0.29 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.16 annualized dividend and a dividend yield of 3.14%. Baxter International’s dividend payout ratio (DPR) is currently 22.31%.

Analyst Ratings Changes

Several research firms have recently commented on BAX. UBS Group reduced their price target on Baxter International from $40.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. Barclays lifted their price target on shares of Baxter International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Bank of America lifted their price target on Baxter International from $42.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Citigroup upped their price objective on Baxter International from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Baxter International from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.30.

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.