Baxter International (NYSE:BAX – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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.
Wall Street Analyst Weigh In
BAX has been the topic of several research reports. Evercore ISI cut their price target on shares of Baxter International from $46.00 to $45.00 and set an outperform rating on the stock in a report on Tuesday, July 2nd. TD Cowen lowered shares of Baxter International from a buy rating to a hold rating and set a $40.00 price objective on the stock. in a research note on Friday, May 10th. The Goldman Sachs Group upped their price target on shares of Baxter International from $36.00 to $40.00 and gave the company a neutral rating in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on Baxter International from $44.00 to $42.00 and set a neutral rating for the company in a research note on Wednesday. Finally, StockNews.com upgraded Baxter International from a hold rating to a buy rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Hold and an average price target of $41.73.
Check Out Our Latest Report on BAX
Baxter International Price Performance
Baxter International (NYSE:BAX – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. As a group, sell-side analysts anticipate that Baxter International will post 2.91 earnings per share for the current fiscal year.
Baxter International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Friday, August 30th. Baxter International’s dividend payout ratio is presently 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.
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