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

Baxter International (NYSE:BAX) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.930-3.010 for the period, compared to the consensus EPS estimate of 2.920. The company issued revenue guidance of $15.3 billion-$15.3 billion, compared to the consensus revenue estimate of $15.1 billion. Baxter International also updated its FY24 guidance to $2.93-3.01 EPS.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price objective 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. The Goldman Sachs Group increased their price objective on shares of Baxter International from $36.00 to $40.00 and gave the company a neutral rating in a research report on Thursday. TD Cowen lowered shares of Baxter International from a buy rating to a hold rating and set a $40.00 price target for the company. in a research report on Friday, May 10th. Evercore ISI reduced their price target on shares of Baxter International from $46.00 to $45.00 and set an outperform rating for the company in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company reduced 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 research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $41.73.

Baxter International Price Performance

Baxter International stock traded down $0.28 during trading on Friday, reaching $37.14. The company had a trading volume of 3,892,882 shares, compared to its average volume of 4,264,026. The firm’s 50-day simple moving average is $34.47 and its 200 day simple moving average is $37.91. Baxter International has a 1-year low of $31.01 and a 1-year high of $44.01. The firm has a market capitalization of $18.93 billion, a PE ratio of 7.20, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the company earned $0.55 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Baxter International will post 2.91 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.12%. Baxter International’s payout ratio is currently 22.31%.

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.