Analysts expect Baxter International Inc (NYSE:BAX) to announce $2.68 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Baxter International’s earnings, with the highest sales estimate coming in at $2.68 billion and the lowest estimate coming in at $2.67 billion. Baxter International also posted sales of $2.68 billion during the same quarter last year. The business is expected to report its next quarterly earnings results on Thursday, April 25th.
According to Zacks, analysts expect that Baxter International will report full year sales of $11.22 billion for the current fiscal year, with estimates ranging from $11.18 billion to $11.25 billion. For the next year, analysts forecast that the company will post sales of $11.85 billion, with estimates ranging from $11.63 billion to $12.09 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Baxter International.
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Baxter International (NYSE:BAX) last released its earnings results on Thursday, January 31st. The medical instruments supplier reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. Baxter International had a return on equity of 18.46% and a net margin of 14.60%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.80 billion.
Several brokerages have weighed in on BAX. Morgan Stanley raised Baxter International from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $66.00 to $77.00 in a research report on Wednesday, January 2nd. Zacks Investment Research downgraded Baxter International from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. ValuEngine downgraded Baxter International from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Barclays raised Baxter International from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $67.00 to $72.00 in a research report on Friday. Finally, Citigroup raised Baxter International from a “neutral” rating to a “buy” rating and increased their price target for the stock from $69.00 to $76.00 in a research report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $76.41.
In related news, Director Carole J. Shapazian sold 11,749 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $68.48, for a total value of $804,571.52. Following the transaction, the director now directly owns 15,237 shares of the company’s stock, valued at approximately $1,043,429.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas T. Stallkamp sold 3,187 shares of the firm’s stock in a transaction dated Friday, January 18th. The shares were sold at an average price of $70.00, for a total transaction of $223,090.00. Following the completion of the transaction, the director now directly owns 9,418 shares in the company, valued at $659,260. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,016,436 shares of company stock worth $550,088,192. Corporate insiders own 0.07% of the company’s stock.
A number of institutional investors have recently modified their holdings of BAX. Gantzert Investment Co. LLC ADV purchased a new position in Baxter International in the 4th quarter valued at about $25,000. Baldwin Brothers Inc. MA lifted its stake in Baxter International by 904.0% in the 4th quarter. Baldwin Brothers Inc. MA now owns 502 shares of the medical instruments supplier’s stock valued at $33,000 after buying an additional 452 shares in the last quarter. We Are One Seven LLC purchased a new position in Baxter International in the 4th quarter valued at about $34,000. CX Institutional lifted its stake in Baxter International by 705.2% in the 4th quarter. CX Institutional now owns 781 shares of the medical instruments supplier’s stock valued at $51,000 after buying an additional 684 shares in the last quarter. Finally, Adirondack Trust Co. lifted its stake in Baxter International by 50.2% in the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the medical instruments supplier’s stock valued at $66,000 after buying an additional 334 shares in the last quarter. 83.27% of the stock is currently owned by hedge funds and other institutional investors.
NYSE BAX opened at $72.13 on Monday. The firm has a market capitalization of $38.38 billion, a P/E ratio of 23.65, a PEG ratio of 1.78 and a beta of 0.99. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.96 and a current ratio of 2.60. Baxter International has a 1 year low of $61.05 and a 1 year high of $78.38.
Baxter International announced that its board has initiated a stock repurchase program on Tuesday, November 13th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the medical instruments supplier to purchase up to 6.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Baxter International Company Profile
Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.
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