SVB Leerink Comments on Baxter International Inc.’s Q2 2022 Earnings (NYSE:BAX)

Baxter International Inc. (NYSE:BAXGet Rating) – Analysts at SVB Leerink lifted their Q2 2022 earnings per share estimates for Baxter International in a research note issued on Monday, April 18th. SVB Leerink analyst D. Antalffy now expects that the medical instruments supplier will post earnings per share of $0.93 for the quarter, up from their prior estimate of $0.90. SVB Leerink also issued estimates for Baxter International’s Q3 2022 earnings at $1.19 EPS, FY2022 earnings at $4.30 EPS and FY2023 earnings at $4.94 EPS.

Several other brokerages have also commented on BAX. KeyCorp decreased their price objective on shares of Baxter International from $98.00 to $95.00 and set an “overweight” rating for the company in a report on Friday, February 18th. Bank of America assumed coverage on shares of Baxter International in a research note on Tuesday, March 1st. They issued a “buy” rating and a $100.00 price target for the company. StockNews.com assumed coverage on shares of Baxter International in a research note on Thursday, March 31st. They issued a “hold” rating for the company. The Goldman Sachs Group lowered shares of Baxter International from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $88.00 to $77.00 in a research note on Monday, April 4th. Finally, Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “strong-buy” rating and set a $99.00 price target for the company in a research note on Monday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $94.71.

Shares of NYSE BAX opened at $76.51 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 1.52 and a debt-to-equity ratio of 1.88. Baxter International has a 12 month low of $73.12 and a 12 month high of $89.70. The firm has a market capitalization of $38.50 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 1.71 and a beta of 0.60. The firm has a fifty day simple moving average of $80.56 and a two-hundred day simple moving average of $81.66.

Baxter International (NYSE:BAXGet Rating) last issued its quarterly earnings data on Thursday, February 17th. The medical instruments supplier reported $1.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.01. Baxter International had a net margin of 10.04% and a return on equity of 21.01%. The business had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the business earned $0.80 EPS. The company’s revenue for the quarter was up 10.5% on a year-over-year basis.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in shares of Baxter International in the fourth quarter worth approximately $26,000. Eagle Bay Advisors LLC boosted its holdings in shares of Baxter International by 140.0% in the third quarter. Eagle Bay Advisors LLC now owns 324 shares of the medical instruments supplier’s stock worth $26,000 after buying an additional 189 shares during the last quarter. Norwood Financial Corp purchased a new position in shares of Baxter International in the fourth quarter worth approximately $32,000. Rosenberg Matthew Hamilton boosted its holdings in shares of Baxter International by 252.8% in the first quarter. Rosenberg Matthew Hamilton now owns 441 shares of the medical instruments supplier’s stock worth $34,000 after buying an additional 316 shares during the last quarter. Finally, FSB Premier Wealth Management Inc. purchased a new position in shares of Baxter International in the fourth quarter worth approximately $39,000. 84.11% of the stock is currently owned by institutional investors.

In other news, Director Albert P. L. Stroucken sold 4,020 shares of the firm’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $76.02, for a total transaction of $305,600.40. Following the sale, the director now owns 27,629 shares of the company’s stock, valued at approximately $2,100,356.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Brian Stevens sold 2,500 shares of the firm’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $85.50, for a total transaction of $213,750.00. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, April 1st. Stockholders of record on Friday, February 25th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Thursday, February 24th. Baxter International’s payout ratio is presently 44.27%.

About Baxter International (Get Rating)

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; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

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Earnings History and Estimates for Baxter International (NYSE:BAX)

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