Baxter International (NYSE:BAX) Updates Q4 Earnings Guidance

Baxter International (NYSE:BAX) updated its fourth quarter earnings guidance on Friday. The company provided EPS guidance of $0.77-$0.81 for the period, compared to the consensus EPS estimate of $0.85. Baxter International also updated its FY 2024 guidance to 2.900-2.940 EPS.

Baxter International Price Performance

Baxter International stock opened at $34.64 on Friday. The business has a 50 day simple moving average of $37.39 and a 200 day simple moving average of $36.12. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91. The company has a market capitalization of $17.67 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 1.22 and a beta of 0.60. Baxter International has a one year low of $32.48 and a one year high of $44.01.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $0.68 earnings per share. On average, sell-side analysts forecast that Baxter International will post 2.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BAX shares. StockNews.com raised shares of Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Morgan Stanley downgraded Baxter International from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $39.00 to $30.00 in a research report on Monday, July 15th. Citigroup increased their target price on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. The Goldman Sachs Group lifted their price target on Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.20.

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.