Baxter International (NYSE:BAX) Updates FY 2024 Earnings Guidance

Baxter International (NYSE:BAX) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 2.900-2.940 for the period, compared to the consensus estimate of 2.950. The company issued revenue guidance of $15.0 billion-$15.1 billion, compared to the consensus revenue estimate of $15.2 billion. Baxter International also updated its Q4 guidance to $0.77-$0.81 EPS.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BAX. JPMorgan Chase & Co. reduced their target price on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Citigroup lifted their price target on shares of Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group upped their price objective on shares of Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company dropped their target price on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.20.

Baxter International Price Performance

Shares of NYSE BAX traded down $1.40 during mid-day trading on Friday, reaching $34.64. The company had a trading volume of 6,636,750 shares, compared to its average volume of 2,694,846. Baxter International has a 1-year low of $32.48 and a 1-year high of $44.01. The stock has a market cap of $17.67 billion, a PE ratio of 7.13, a P/E/G ratio of 1.22 and a beta of 0.60. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35. The company has a 50-day moving average price of $37.39 and a two-hundred day moving average price of $36.12.

Baxter International (NYSE:BAX) last posted its earnings results 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 firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 earnings per share. On average, equities analysts anticipate that Baxter International will post 2.96 earnings per share for the current year.

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.