Brokerages expect Baxter International Inc. (NYSE:BAX) to post quarterly sales of $3.35 billion
Equity research analysts expect Baxter International Inc. (NYSE:BAX) to report sales of $3.35 billion in the current fiscal quarter, according to Zacks. Six analysts have made estimates of Baxter International’s earnings, with estimates ranging from $3.29 billion to $3.42 billion. Baxter International reported sales of $3.18 billion in the same quarter last year, indicating a positive year-over-year growth rate of 5.3%. The company is expected to release its next quarterly earnings report before the market opens on Thursday, February 17.
On average, analysts expect Baxter International to report annual revenue of $12.63 billion for the current year, with estimates ranging from $12.56 billion to $12.70 billion. of dollars. For the next fiscal year, analysts expect the company to report sales of $14.37 billion, with estimates ranging from $13.07 billion to $16.20 billion. Zacks Investment Research sales averages are an average average based on a survey of analysts who cover Baxter International.
A number of brokerages have recently released reports on BAX. Morgan Stanley upgraded shares of Baxter International from an ‘equal weight’ rating to an ‘overweight’ rating and raised its target price for the stock from $86.00 to $110.00 in a research report Friday, January 7. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “strong-buy” rating and set a target price of $99.00 on the stock in a research report on Monday, January 17. KeyCorp raised its price target on Baxter International shares from $92.00 to $98.00 and gave the stock an “overweight” rating in a Tuesday, Jan. 4 research report. JPMorgan Chase & Co. launched coverage on Baxter International shares in a research report on Friday, December 17. They set an “overweight” rating on the stock. Finally, Citigroup launched a hedge on the shares of Baxter International in a report on Friday, January 7. They issued a “buy” rating and a price target of $101.00 on the stock. Two equity research analysts gave the stock a hold rating, twelve gave the company a buy rating and one gave the company a strong buy rating. According to MarketBeat, Baxter International currently has an average rating of “Buy” and an average target price of $95.83.
A number of institutional investors and hedge funds have been buying and selling shares of BAX recently. Geode Capital Management LLC increased its stake in Baxter International by 6.2% in the second quarter. Geode Capital Management LLC now owns 7,728,860 shares of the medical device supplier worth $620,185,000 after purchasing an additional 451,813 shares during the period. AXA SA increased its position in Baxter International shares by 507.6% during the second quarter. AXA SA now owns 46,417 shares of the medical device supplier worth $3,737,000 after acquiring 38,777 additional shares last quarter. Azimuth Capital Management LLC increased its position in Baxter International shares by 2.4% during the second quarter. Azimuth Capital Management LLC now owns 83,248 shares of the medical device supplier worth $6,701,000 after acquiring 1,935 additional shares in the last quarter. Ensign Peak Advisors Inc increased its position in Baxter International shares by 1.9% during the second quarter. Ensign Peak Advisors Inc now owns 67,292 shares of the medical device supplier worth $5,417,000 after acquiring 1,246 additional shares in the last quarter. Finally, 9258 Wealth Management LLC increased its position in Baxter International shares by 4.0% during the second quarter. 9258 Wealth Management LLC now owns 11,756 shares of the medical device supplier worth $946,000 after acquiring 452 additional shares last quarter. Institutional investors hold 84.02% of the company’s shares.
Shares of BAX Stock opened at $84.93 on Wednesday. Baxter International has a 1-year low of $73.12 and a 1-year high of $88.91. The company’s 50-day moving average is $83.54 and its 200-day moving average is $80.66. The company has a market capitalization of $42.52 billion, a price-earnings ratio of 35.54, a PEG ratio of 2.12 and a beta of 0.65. The company has a current ratio of 2.37, a quick ratio of 1.78 and a debt ratio of 0.62.
The company also recently announced a quarterly dividend, which was paid on Monday, January 3. Shareholders of record on Friday, December 3 received a dividend of $0.28. The ex-dividend date was Thursday, December 2. This represents an annualized dividend of $1.12 and a yield of 1.32%. Baxter International’s dividend payout ratio (DPR) is currently 46.86%.
Baxter International Company Profile
Baxter International, Inc. provides a portfolio of essential renal and hospital products, including acute and chronic dialysis, sterile intravenous solutions, infusion systems and devices, parenteral nutritional therapies; premixed and oncolytic injectables, biosurgical and anesthetic products, drug reconstitution systems and pharmacy automation, software and services.
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