Baxter International (NYSE:BAX) Releases Earnings Results, Beats Expectations By $0.04 EPS

Baxter International (NYSE:BAX - Get Free Report) announced its quarterly earnings data on Thursday. The medical instruments supplier reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04, Briefing.com reports. Baxter International had a return on equity of 18.97% and a net margin of 17.79%. The company had revenue of $3.59 billion during the quarter, compared to analysts' expectations of $3.55 billion. During the same quarter last year, the company earned $0.59 EPS. Baxter International's revenue for the quarter was down 1.6% compared to the same quarter last year. Baxter International updated its Q2 guidance to $0.65-$0.67 EPS and its FY24 guidance to $2.88-$2.98 EPS.

Baxter International Price Performance

Shares of NYSE BAX traded down $0.02 during midday trading on Friday, reaching $36.89. 6,246,789 shares of the company were exchanged, compared to its average volume of 3,358,723. The stock's 50-day moving average price is $41.53 and its 200-day moving average price is $38.75. The stock has a market cap of $18.73 billion, a P/E ratio of 7.09, a PEG ratio of 1.98 and a beta of 0.64. Baxter International has a one year low of $31.01 and a one year high of $50.21. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 1.31.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $0.29 per share. The ex-dividend date was Thursday, February 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.14%. Baxter International's payout ratio is presently 22.31%.

Analyst Ratings Changes

BAX has been the topic of a number of research reports. Barclays upped their price target on shares of Baxter International from $52.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, February 12th. Citigroup boosted their price target on Baxter International from $41.00 to $44.00 and gave the company a "neutral" rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. increased their target price on Baxter International from $38.00 to $44.00 and gave the stock a "neutral" rating in a report on Friday, February 9th. UBS Group cut their price objective on shares of Baxter International from $40.00 to $36.00 and set a "neutral" rating for the company in a research report on Tuesday, February 6th. Finally, Bank of America boosted their target price on shares of Baxter International from $42.00 to $45.00 and gave the company a "neutral" rating in a research report on Tuesday, March 5th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $46.30.

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.