Baxter International (NYSE:BAX) Updates FY24 Earnings Guidance

Baxter International (NYSE:BAX) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.88-$2.98 for the period, compared to the consensus estimate of $2.90. The company issued revenue guidance of $15.1 billion, compared to the consensus revenue estimate of $15.10 billion. Baxter International also updated its Q2 guidance to $0.65-$0.67 EPS.

Baxter International Stock Performance

Shares of BAX stock traded down $0.02 during trading on Friday, reaching $36.89. 6,246,789 shares of the company’s stock were exchanged, compared to its average volume of 3,358,723. 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 twelve month low of $31.01 and a twelve month high of $50.21. The stock has a market capitalization of $18.73 billion, a PE ratio of 7.09, a PEG ratio of 1.98 and a beta of 0.64. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. The company had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.55 billion. Baxter International had a net margin of 17.79% and a return on equity of 18.97%. The company’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. As a group, sell-side analysts anticipate that Baxter International will post 2.9 EPS for the current year.

Baxter International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Thursday, February 29th. Baxter International’s dividend payout ratio is presently 22.31%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. StockNews.com upgraded Baxter International from a hold rating to a buy rating in a research note on Friday, January 19th. Bank of America upped their price target on shares of Baxter International from $42.00 to $45.00 and gave the company a neutral rating in a research note on Tuesday, March 5th. UBS Group dropped their price objective on shares of Baxter International from $40.00 to $36.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. Barclays boosted their price objective on shares of Baxter International from $52.00 to $54.00 and gave the company an overweight rating in a report on Monday, February 12th. Finally, Citigroup raised their target price on shares of Baxter International from $41.00 to $44.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target 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.