Baxter International (NYSE:BAX – Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.65-$0.67 for the period, compared to the consensus earnings per share estimate of $0.68. The company issued revenue guidance of $3.74 billion, compared to the consensus revenue estimate of $3.77 billion. Baxter International also updated its FY24 guidance to $2.88-$2.98 EPS.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Citigroup raised their price objective on shares of Baxter International from $41.00 to $44.00 and gave the company a neutral rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. lifted their price target on shares of Baxter International from $38.00 to $44.00 and gave the company a neutral rating in a research report on Friday, February 9th. Barclays lifted their price target on shares of Baxter International from $52.00 to $54.00 and gave the company an overweight rating in a research report on Monday, February 12th. StockNews.com raised shares of Baxter International from a hold rating to a buy rating in a research report on Friday, January 19th. Finally, UBS Group dropped their price target on shares of Baxter International from $40.00 to $36.00 and set a neutral rating on the stock in a research report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $46.30.
View Our Latest Stock Report on Baxter International
Baxter International Stock Performance
Baxter International (NYSE:BAX – Get Free Report) last issued its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 EPS for the quarter, beating the consensus estimate of $0.61 by $0.04. Baxter International had a net margin of 17.79% and a return on equity of 18.97%. The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.55 billion. During the same quarter in the previous year, the company earned $0.59 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts predict that Baxter International will post 2.9 earnings per share for the current fiscal year.
Baxter International Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a $0.29 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.14%. Baxter International’s dividend payout ratio is 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.
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