Baxter International (NYSE:BAX) Issues Quarterly Earnings Results

Baxter International (NYSE:BAX - Get Free Report) issued its quarterly earnings results on Friday. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.02, Briefing.com reports. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. Baxter International's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $0.68 EPS.

Baxter International Trading Down 3.9 %

Baxter International stock traded down $1.40 during trading on Friday, hitting $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 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's 50 day simple moving average is $37.39 and its 200-day simple moving average is $36.12. The stock has a market cap of $17.67 billion, a price-to-earnings ratio of 7.13, a price-to-earnings-growth ratio of 1.22 and a beta of 0.60.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley downgraded shares of Baxter International from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $39.00 to $30.00 in a report on Monday, July 15th. Wells Fargo & Company cut their price objective 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. JPMorgan Chase & Co. cut their price objective on shares of Baxter International from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group increased their price objective on shares of Baxter International from $36.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, August 8th. Finally, Citigroup raised their price target on shares of Baxter International from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $41.20.

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.