Baxter International (NYSE:BAX – Get Rating) released its earnings results on Thursday. The medical instruments supplier reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.13, MarketWatch Earnings reports. Baxter International had a return on equity of 21.01% and a net margin of 10.04%. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the prior year, the company earned $0.76 earnings per share. The company’s quarterly revenue was up 25.8% on a year-over-year basis. Baxter International updated its Q2 guidance to $0.86-0.89 EPS and its FY22 guidance to $4.12-4.20 EPS.
Shares of NYSE:BAX traded up $0.26 during mid-day trading on Friday, reaching $71.06. The company had a trading volume of 4,019,219 shares, compared to its average volume of 3,229,781. The company has a current ratio of 2.09, a quick ratio of 1.52 and a debt-to-equity ratio of 1.88. The firm has a market cap of $35.76 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 1.59 and a beta of 0.60. The company’s 50-day moving average price is $78.73 and its 200-day moving average price is $81.29. Baxter International has a one year low of $69.72 and a one year high of $89.70.
The business also recently declared a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, February 25th were issued a $0.28 dividend. The ex-dividend date was Thursday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.58%. Baxter International’s dividend payout ratio (DPR) is presently 53.59%.
A number of institutional investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC lifted its stake in Baxter International by 5.9% in the fourth quarter. Parametric Portfolio Associates LLC now owns 2,024,918 shares of the medical instruments supplier’s stock worth $173,819,000 after purchasing an additional 113,578 shares during the last quarter. California State Teachers Retirement System lifted its stake in Baxter International by 3.5% in the fourth quarter. California State Teachers Retirement System now owns 903,556 shares of the medical instruments supplier’s stock worth $77,561,000 after purchasing an additional 30,448 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Baxter International by 17.5% in the fourth quarter. Advisors Asset Management Inc. now owns 28,791 shares of the medical instruments supplier’s stock worth $2,471,000 after purchasing an additional 4,290 shares during the last quarter. 84.11% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on BAX shares. Bank of America assumed coverage on Baxter International in a research note on Tuesday, March 1st. They set a “buy” rating and a $100.00 target price for the company. UBS Group raised their target price on Baxter International from $88.00 to $91.00 and gave the stock a “neutral” rating in a research report on Friday, February 18th. The Goldman Sachs Group lowered Baxter International from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $88.00 to $77.00 in a research report on Monday, April 4th. Zacks Investment Research raised Baxter International from a “hold” rating to a “strong-buy” rating and set a $99.00 target price for the company in a research report on Monday, January 17th. Finally, Morgan Stanley lowered their target price on Baxter International from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday, February 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Baxter International has an average rating of “Buy” and an average price target of $93.93.
Baxter International Company Profile (Get Rating)
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.
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