Baxter International (NYSE:BAX) Releases Q2 2022 Earnings Guidance

Baxter International (NYSE:BAXGet Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share guidance of $0.86-$0.89 for the period, compared to the consensus earnings per share estimate of $0.98. The company issued revenue guidance of $3.90 billion-$3.90 billion, compared to the consensus revenue estimate of $3.88 billion.Baxter International also updated its FY 2022 guidance to $4.12-$4.20 EPS.

Shares of NYSE:BAX opened at $73.62 on Tuesday. The stock’s 50-day simple moving average is $77.23 and its two-hundred day simple moving average is $80.96. The stock has a market capitalization of $37.07 billion, a price-to-earnings ratio of 35.23, a PEG ratio of 1.69 and a beta of 0.62. Baxter International has a 52-week low of $69.71 and a 52-week high of $89.70. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.45 and a current ratio of 2.10.

Baxter International (NYSE:BAXGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The medical instruments supplier reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.13. Baxter International had a net margin of 7.80% and a return on equity of 21.59%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter last year, the firm posted $0.76 earnings per share. The firm’s revenue was up 25.8% compared to the same quarter last year. As a group, equities analysts forecast that Baxter International will post 4.15 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 3rd will be given a dividend of $0.29 per share. This is an increase from Baxter International’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.58%. Baxter International’s payout ratio is presently 53.59%.

BAX has been the topic of several analyst reports. Bank of America initiated coverage on Baxter International in a research report on Tuesday, March 1st. They set a buy rating and a $100.00 target price on the stock. Morgan Stanley reduced their target price on shares of Baxter International from $110.00 to $105.00 and set an overweight rating for the company in a report on Friday, February 18th. StockNews.com assumed coverage on shares of Baxter International in a report on Thursday, March 31st. They set a hold rating on the stock. Wells Fargo & Company reduced their price objective on shares of Baxter International from $95.00 to $93.00 and set an overweight rating for the company in a research note on Friday, February 18th. Finally, Zacks Investment Research upgraded shares of Baxter International from a hold rating to a strong-buy rating and set a $99.00 target price on the stock in a research note on Monday, January 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Baxter International presently has a consensus rating of Buy and a consensus price target of $93.62.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its holdings in Baxter International by 17.5% during the 4th quarter. Advisors Asset Management Inc. now owns 28,791 shares of the medical instruments supplier’s stock valued at $2,471,000 after acquiring an additional 4,290 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Baxter International by 5.9% during the fourth quarter. Parametric Portfolio Associates LLC now owns 2,024,918 shares of the medical instruments supplier’s stock valued at $173,819,000 after purchasing an additional 113,578 shares during the period. Finally, California State Teachers Retirement System increased its stake in Baxter International by 3.5% in the 4th quarter. California State Teachers Retirement System now owns 903,556 shares of the medical instruments supplier’s stock worth $77,561,000 after buying an additional 30,448 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Baxter International Company Profile (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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