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

Baxter International (NYSE:BAX) issued its earnings results on Thursday. The medical instruments supplier reported $0.65 earnings per share for the quarter, topping 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 business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period last year, the company posted $0.59 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Baxter International updated its Q2 guidance to $0.65-$0.67 EPS and its FY24 guidance to $2.88-$2.98 EPS.

Baxter International Stock Down 0.1 %

NYSE BAX traded down $0.02 during mid-day trading on Friday, reaching $36.89. 6,246,789 shares of the company’s stock traded hands, compared to its average volume of 3,358,723. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 1.31. Baxter International has a 1-year low of $31.01 and a 1-year high of $50.21. The company has a fifty day simple moving average of $41.53 and a 200-day simple moving average of $38.75. The company has a market cap of $18.73 billion, a price-to-earnings ratio of 7.09, a P/E/G ratio of 1.98 and a beta of 0.64.

Baxter International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Thursday, February 29th. Baxter International’s dividend payout ratio (DPR) is 22.31%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BAX. JPMorgan Chase & Co. lifted their price objective on Baxter International from $38.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Barclays boosted their price objective on shares of Baxter International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. UBS Group dropped 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. StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Finally, Bank of America increased their price target on Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Baxter International presently has a consensus rating of “Hold” and a consensus price target of $46.30.

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.