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

Baxter International (NYSE:BAX - Get Free Report) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.900-2.940 for the period, compared to the consensus earnings per share 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 Analysts Forecast Growth

BAX has been the topic of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Baxter International from $44.00 to $40.00 and set an "equal weight" rating on the stock 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. Citigroup boosted their target price on shares of Baxter International from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Tuesday, October 1st. StockNews.com raised Baxter International from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group boosted their price objective on Baxter International from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $41.20.

Baxter International Trading Down 3.9 %

Shares of BAX traded down $1.40 during trading hours on Friday, reaching $34.64. 6,631,711 shares of the company traded hands, compared to its average volume of 4,048,255. Baxter International has a 12 month low of $32.48 and a 12 month high of $44.01. The company has a market capitalization of $17.67 billion, a price-to-earnings ratio of 7.05, a price-to-earnings-growth ratio of 1.21 and a beta of 0.60. The company's fifty day moving average price is $37.50 and its two-hundred day moving average price is $36.16. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 1.35.

Baxter International (NYSE:BAX - Get Free Report) last announced its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.02. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The firm had revenue of $3.81 billion for the quarter, compared to analysts' expectations of $3.75 billion. During the same quarter in the previous year, the business posted $0.55 EPS. The company's quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts predict that Baxter International will post 2.96 earnings per share for the current fiscal year.

Baxter International Company Profile

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.