Baxter International (NYSE:BAX) Updates Q4 Earnings Guidance

Baxter International (NYSE:BAX - Get Free Report) updated its fourth quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $0.77-$0.81 for the period, compared to the consensus estimate of $0.85. Baxter International also updated its FY 2024 guidance to 2.900-2.940 EPS.

Baxter International Stock Performance

Shares of BAX traded down $1.51 during trading hours on Friday, hitting $34.53. The company's stock had a trading volume of 4,229,359 shares, compared to its average volume of 4,036,501. The business has a 50 day simple moving average of $37.50 and a two-hundred day simple moving average of $36.16. The company has a market cap of $17.62 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 1.21 and a beta of 0.60. Baxter International has a 52-week low of $32.48 and a 52-week high of $44.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91.

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

Analyst Ratings Changes

BAX has been the topic of several analyst reports. Citigroup upped their price target on Baxter International from $38.00 to $40.00 and gave the company a "neutral" rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut their price target 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. StockNews.com upgraded Baxter International from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group raised their price target on Baxter International from $36.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday, August 8th. Finally, Morgan Stanley downgraded Baxter International from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $39.00 to $30.00 in a research report on Monday, July 15th. One 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 company. According to MarketBeat, the company currently has an average rating of "Hold" and an average 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.