Baxter International (NYSE:BAX) Issues FY24 Earnings Guidance

Baxter International (NYSE:BAX) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.88-$2.98 for the period, compared to the consensus EPS estimate of $2.90. The company issued revenue guidance of $15.1 billion, compared to the consensus revenue estimate of $15.10 billion. Baxter International also updated its Q2 guidance to $0.65-$0.67 EPS.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Citigroup lifted their target price on shares of Baxter International from $41.00 to $44.00 and gave the stock a neutral rating in a report on Wednesday, April 3rd. StockNews.com raised shares of Baxter International from a hold rating to a buy rating in a report on Friday, January 19th. UBS Group dropped their price objective on shares of Baxter International from $40.00 to $36.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. Barclays lifted their price objective on shares of Baxter International from $52.00 to $54.00 and gave the stock an overweight rating in a research note on Monday, February 12th. Finally, Bank of America lifted their price objective on shares of Baxter International from $42.00 to $45.00 and gave the stock a neutral rating in a research note on Tuesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $46.30.

Baxter International Price Performance

Shares of NYSE:BAX opened at $40.34 on Thursday. The firm has a 50 day moving average of $41.74 and a 200-day moving average of $38.72. The stock has a market capitalization of $20.49 billion, a PE ratio of 7.73, a PEG ratio of 2.17 and a beta of 0.64. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 1.31. Baxter International has a 12 month low of $31.01 and a 12 month high of $50.21.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 EPS for the quarter, beating the consensus estimate of $0.86 by $0.02. The company had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 EPS. On average, equities research analysts predict that Baxter International will post 2.89 EPS for the current fiscal year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date was Thursday, February 29th. Baxter International’s dividend payout ratio is 22.22%.

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.