Baxter International (NYSE:BAX) Updates FY 2024 Earnings Guidance

Baxter International (NYSE:BAX) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 2.900-2.940 for the period, compared to the consensus estimate of 2.950. The company issued revenue guidance of $15.0 billion-$15.1 billion, compared to the consensus revenue estimate of $15.2 billion. Baxter International also updated its Q4 guidance to $0.77-$0.81 EPS.

Baxter International Price Performance

BAX stock traded down $1.40 during mid-day trading on Friday, reaching $34.64. 6,636,750 shares of the company’s stock were exchanged, compared to its average volume of 2,694,846. 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. Baxter International has a 12-month low of $32.48 and a 12-month high of $44.01. The stock’s 50 day moving average is $37.39 and its 200 day moving average is $36.12. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 EPS. On average, research analysts expect that Baxter International will post 2.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BAX shares. 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. Citigroup raised their target price on Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group boosted their price target on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company decreased their price objective on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. Finally, StockNews.com raised shares of Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Baxter International has an average rating of “Hold” and a consensus 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.