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

Baxter International (NYSE:BAX) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 2.900-2.940 for the period, compared to the consensus EPS 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.

Baxter International Price Performance

NYSE BAX opened at $34.64 on Friday. The company has a market cap of $17.67 billion, a PE ratio of 7.13, a P/E/G ratio of 1.22 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 quick ratio of 0.91 and a current ratio of 1.40. The firm’s 50 day moving average price is $37.39 and its 200-day moving average price is $36.12.

Baxter International (NYSE:BAX) last announced its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. Sell-side analysts forecast that Baxter International will post 2.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BAX has been the subject of several analyst reports. Morgan Stanley lowered shares of Baxter International from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $39.00 to $30.00 in a research report on Monday, July 15th. JPMorgan Chase & Co. decreased their target price on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. StockNews.com raised shares of Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group increased their price objective on Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Citigroup boosted their target price on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.