Baxter International (NYSE:BAX) Releases FY24 Earnings Guidance

Baxter International (NYSE:BAX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.93-3.01 for the period, compared to the consensus estimate of $2.92. The company issued revenue guidance of +3% yr/yr to $15.26 billion, compared to the consensus revenue estimate of $15.09 billion. Baxter International also updated its FY 2024 guidance to 2.930-3.010 EPS.

Wall Street Analysts Forecast Growth

BAX has been the topic of a number of analyst reports. StockNews.com raised shares of Baxter International from a hold rating to a buy rating in a report on Thursday, August 1st. JPMorgan Chase & Co. dropped their price target on shares of Baxter International from $44.00 to $42.00 and set a neutral rating on the stock in a research note on Wednesday. TD Cowen downgraded Baxter International from a buy rating to a hold rating and set a $40.00 price objective for the company. in a research report on Friday, May 10th. Wells Fargo & Company lowered their target price on Baxter International from $44.00 to $40.00 and set an equal weight rating on the stock in a research report on Wednesday. Finally, Morgan Stanley lowered Baxter International from an equal weight rating to an underweight rating and reduced their price target for the stock from $39.00 to $30.00 in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Baxter International presently has a consensus rating of Hold and a consensus price target of $41.36.

Baxter International Price Performance

NYSE BAX traded down $0.17 on Wednesday, reaching $36.75. 2,898,122 shares of the stock traded hands, compared to its average volume of 4,255,053. Baxter International has a 12 month low of $31.01 and a 12 month high of $44.01. The company has a market cap of $18.73 billion, a price-to-earnings ratio of 7.11, a P/E/G ratio of 1.88 and a beta of 0.57. The firm’s fifty day simple moving average is $34.32 and its 200 day simple moving average is $37.92. The company has a quick ratio of 1.01, a current ratio of 1.48 and a debt-to-equity ratio of 1.35.

Baxter International (NYSE:BAX) last announced its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.02. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter last year, the business posted $0.55 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, research analysts predict that Baxter International will post 2.91 EPS for the current fiscal year.

Baxter International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.16%. Baxter International’s payout ratio is currently 22.31%.

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.