Equities research analysts expect that Baxter International Inc. (NYSE:BAX) will announce sales of $3.11 billion for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Baxter International's earnings. The lowest sales estimate is $3.11 billion and the highest is $3.12 billion. Baxter International posted sales of $2.72 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.3%. The company is scheduled to issue its next earnings report before the market opens on Thursday, July 29th.
On average, analysts expect that Baxter International will report full-year sales of $12.70 billion for the current year, with estimates ranging from $12.66 billion to $12.77 billion. For the next financial year, analysts expect that the firm will report sales of $13.31 billion, with estimates ranging from $13.23 billion to $13.46 billion. Zacks' sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Baxter International.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, April 28th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.64 by $0.12. Baxter International had a return on equity of 18.34% and a net margin of 9.04%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the previous year, the firm earned $0.82 earnings per share. The company's revenue was up 5.1% compared to the same quarter last year.
Several brokerages have issued reports on BAX. Piper Sandler boosted their price target on Baxter International from $80.00 to $85.00 and gave the company an "in-line" rating in a research note on Thursday, April 29th. Citigroup upped their target price on Baxter International from $94.00 to $98.00 in a research report on Friday, April 30th. Barclays began coverage on Baxter International in a research report on Monday, May 24th. They set an "equal weight" rating and a $93.00 target price on the stock. Finally, upped their target price on Baxter International from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Friday, April 30th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of "Buy" and an average target price of $90.55.
Shares of BAX opened at $80.27 on Thursday. Baxter International has a 52-week low of $74.79 and a 52-week high of $91.45. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.83 and a current ratio of 2.46. The firm has a 50 day simple moving average of $81.80. The firm has a market capitalization of $40.36 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 2.36 and a beta of 0.68.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Friday, September 3rd will be issued a dividend of $0.28 per share. The ex-dividend date is Thursday, September 2nd. This represents a $1.12 annualized dividend and a yield of 1.40%. Baxter International's dividend payout ratio (DPR) is currently 36.25%.
A number of institutional investors have recently made changes to their positions in the stock. TIAA FSB grew its holdings in Baxter International by 28.6% during the second quarter. TIAA FSB now owns 30,799 shares of the medical instruments supplier's stock worth $2,479,000 after buying an additional 6,848 shares in the last quarter. Connolly Sarah T. grew its holdings in Baxter International by 2.5% during the second quarter. Connolly Sarah T. now owns 6,150 shares of the medical instruments supplier's stock worth $495,000 after buying an additional 150 shares in the last quarter. Stock Yards Bank & Trust Co. grew its holdings in Baxter International by 39.9% during the second quarter. Stock Yards Bank & Trust Co. now owns 3,505 shares of the medical instruments supplier's stock worth $283,000 after buying an additional 1,000 shares in the last quarter. Gofen & Glossberg LLC IL grew its holdings in Baxter International by 2.7% during the second quarter. Gofen & Glossberg LLC IL now owns 20,098 shares of the medical instruments supplier's stock worth $1,618,000 after buying an additional 535 shares in the last quarter. Finally, New Mexico Educational Retirement Board grew its stake in Baxter International by 3.7% in the 2nd quarter. New Mexico Educational Retirement Board now owns 33,661 shares of the medical instruments supplier's stock valued at $2,710,000 after purchasing an additional 1,200 shares during the period. Institutional investors and hedge funds own 85.15% of the company's stock.
About Baxter International
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company 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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