Baxter International (NYSE:BAX) Updates Q3 2022 Earnings Guidance

Baxter International (NYSE:BAXGet Rating) issued an update on its third quarter 2022 earnings guidance on Thursday morning. The company provided EPS guidance of $0.79-$0.83 for the period, compared to the consensus EPS estimate of $1.10. The company issued revenue guidance of -. Baxter International also updated its FY 2022 guidance to $3.60-$3.70 EPS.

Analyst Ratings Changes

BAX has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on Baxter International from $85.00 to $75.00 in a report on Monday, July 18th. Wells Fargo & Company cut shares of Baxter International from an overweight rating to an equal weight rating and set a $71.00 price target on the stock. in a report on Friday, June 24th. Citigroup dropped their target price on Baxter International from $98.00 to $85.00 and set a buy rating for the company in a report on Tuesday, May 17th. JPMorgan Chase & Co. lowered their price target on shares of Baxter International from $90.00 to $78.00 and set an overweight rating on the stock in a research report on Friday, June 24th. Finally, StockNews.com initiated coverage on shares of Baxter International in a report on Thursday, March 31st. They issued a hold rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $86.38.

Baxter International Price Performance

NYSE:BAX traded down $6.20 on Thursday, hitting $60.60. The company had a trading volume of 348,000 shares, compared to its average volume of 2,221,301. The company has a current ratio of 2.10, a quick ratio of 1.45 and a debt-to-equity ratio of 1.84. Baxter International has a 52 week low of $62.70 and a 52 week high of $89.70. The stock has a market capitalization of $30.51 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 1.28 and a beta of 0.68. The firm has a 50 day moving average of $68.39 and a two-hundred day moving average of $76.10.

Baxter International (NYSE:BAXGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The medical instruments supplier reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.13. Baxter International had a net margin of 7.80% and a return on equity of 21.59%. The business had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter last year, the business earned $0.76 EPS. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. On average, research analysts anticipate that Baxter International will post 4.13 earnings per share for the current year.

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $1.16 annualized dividend and a dividend yield of 1.91%. Baxter International’s dividend payout ratio is 55.50%.

Institutional Investors Weigh In On Baxter International

A number of institutional investors have recently made changes to their positions in BAX. Ancora Advisors LLC boosted its stake in shares of Baxter International by 29.2% in the 1st quarter. Ancora Advisors LLC now owns 1,351 shares of the medical instruments supplier’s stock valued at $114,000 after purchasing an additional 305 shares during the last quarter. Eudaimonia Partners LLC bought a new stake in Baxter International during the first quarter valued at $340,000. KB Financial Partners LLC grew its holdings in Baxter International by 6.2% during the 1st quarter. KB Financial Partners LLC now owns 4,815 shares of the medical instruments supplier’s stock worth $373,000 after acquiring an additional 279 shares during the period. Zions Bancorporation N.A. raised its position in shares of Baxter International by 30.1% in the 1st quarter. Zions Bancorporation N.A. now owns 10,964 shares of the medical instruments supplier’s stock worth $850,000 after acquiring an additional 2,535 shares in the last quarter. Finally, Gabelli Funds LLC lifted its stake in shares of Baxter International by 6.0% in the 1st quarter. Gabelli Funds LLC now owns 281,374 shares of the medical instruments supplier’s stock valued at $21,818,000 after purchasing an additional 15,925 shares during the period. Institutional investors own 86.65% of the company’s stock.

About Baxter International

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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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Earnings History and Estimates for Baxter International (NYSE:BAX)

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