Baxter International (NYSE:BAX) Issues Q4 Earnings Guidance

Baxter International (NYSE:BAX) updated its fourth quarter earnings guidance on Friday. The company provided earnings per share guidance of $0.77-$0.81 for the period, compared to the consensus earnings per share estimate of $0.85. Baxter International also updated its FY 2024 guidance to 2.900-2.940 EPS.

Baxter International Stock Performance

NYSE:BAX opened at $34.64 on Friday. The company has a market cap of $17.67 billion, a price-to-earnings ratio of 7.13, a price-to-earnings-growth ratio of 1.22 and a beta of 0.60. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 1.35. Baxter International has a 52 week low of $32.48 and a 52 week high of $44.01. The company has a fifty day simple moving average of $37.39 and a two-hundred day simple moving average of $36.12.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on BAX shares. Wells Fargo & Company lowered their price target on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. Morgan Stanley cut Baxter International from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $39.00 to $30.00 in a research report on Monday, July 15th. StockNews.com raised Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price target on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Citigroup lifted their price objective on Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.