Zacks: Analysts Expect Baxter International Inc (BAX) Will Announce Quarterly Sales of $2.62 Billion

Equities research analysts expect that Baxter International Inc (NYSE:BAX) will announce sales of $2.62 billion for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Baxter International’s earnings, with the lowest sales estimate coming in at $2.61 billion and the highest estimate coming in at $2.65 billion. Baxter International posted sales of $2.48 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.6%. The company is expected to announce its next quarterly earnings report before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that Baxter International will report full year sales of $2.62 billion for the current financial year, with estimates ranging from $11.21 billion to $11.37 billion. For the next year, analysts anticipate that the business will post sales of $11.76 billion per share, with estimates ranging from $11.70 billion to $11.84 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Baxter International.

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Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Baxter International had a net margin of 6.79% and a return on equity of 15.11%. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the business earned $0.57 EPS. Baxter International’s revenue was up 4.9% compared to the same quarter last year.

BAX has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. JPMorgan Chase raised shares of Baxter International from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 2nd. Bank of America raised shares of Baxter International from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Evercore ISI initiated coverage on shares of Baxter International in a report on Wednesday, January 3rd. They issued an “outperform” rating and a $71.00 price target for the company. Finally, Raymond James Financial raised shares of Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a report on Wednesday, January 3rd. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $70.93.

Baxter International stock traded up $0.90 during mid-day trading on Wednesday, reaching $64.79. The company’s stock had a trading volume of 2,733,435 shares, compared to its average volume of 3,293,757. The company has a current ratio of 2.57, a quick ratio of 2.05 and a debt-to-equity ratio of 0.38. Baxter International has a 12-month low of $52.27 and a 12-month high of $72.58. The firm has a market capitalization of $34,509.47, a price-to-earnings ratio of 26.13, a P/E/G ratio of 1.74 and a beta of 0.80.

Baxter International announced that its board has initiated a share repurchase program on Tuesday, February 20th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the medical instruments supplier to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 2nd were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Thursday, March 1st. Baxter International’s dividend payout ratio is currently 25.81%.

In other Baxter International news, Director Peter S. Hellman sold 3,760 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $64.74, for a total value of $243,422.40. Following the completion of the sale, the director now directly owns 25,522 shares of the company’s stock, valued at $1,652,294.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Gavin III sold 18,750 shares of the business’s stock in a transaction on Wednesday, March 28th. The stock was sold at an average price of $64.56, for a total transaction of $1,210,500.00. Following the completion of the sale, the director now directly owns 36,398 shares of the company’s stock, valued at $2,349,854.88. The disclosure for this sale can be found here. Insiders have sold a total of 27,500 shares of company stock valued at $1,783,512 over the last ninety days. 0.07% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of BAX. Winslow Capital Management LLC bought a new stake in Baxter International in the fourth quarter worth $178,651,000. HealthCor Management L.P. bought a new stake in Baxter International in the fourth quarter worth $111,504,000. Amundi Pioneer Asset Management Inc. bought a new stake in Baxter International in the fourth quarter worth $74,517,000. Renaissance Technologies LLC lifted its stake in Baxter International by 217.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,486,913 shares of the medical instruments supplier’s stock worth $96,114,000 after purchasing an additional 1,018,800 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its stake in Baxter International by 18.1% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 3,098,384 shares of the medical instruments supplier’s stock worth $200,279,000 after purchasing an additional 474,520 shares during the last quarter. 85.56% of the stock is owned by institutional investors and hedge funds.

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Baxter International Company Profile

Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.

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Earnings History and Estimates for Baxter International (NYSE:BAX)

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