Brokerages Anticipate Baxter International Inc (BAX) Will Announce Quarterly Sales of $2.80 Billion

Wall Street analysts forecast that Baxter International Inc (NYSE:BAX) will post $2.80 billion in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Baxter International’s earnings, with the lowest sales estimate coming in at $2.78 billion and the highest estimate coming in at $2.81 billion. Baxter International reported sales of $2.77 billion in the same quarter last year, which would suggest a positive year over year growth rate of 1.1%. The business is expected to report its next earnings report on Thursday, February 7th.

According to Zacks, analysts expect that Baxter International will report full-year sales of $11.08 billion for the current financial year, with estimates ranging from $11.06 billion to $11.10 billion. For the next financial year, analysts expect that the business will post sales of $11.41 billion, with estimates ranging from $11.25 billion to $11.52 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Baxter International.

Baxter International (NYSE:BAX) last posted its earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.06. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. Baxter International’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share.

A number of research firms have recently weighed in on BAX. ValuEngine lowered shares of Baxter International from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. JPMorgan Chase & Co. increased their target price on shares of Baxter International from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Citigroup increased their target price on shares of Baxter International from $74.00 to $76.00 and gave the stock a “neutral” rating in a report on Tuesday, July 31st. Morgan Stanley increased their target price on shares of Baxter International from $68.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 11th. Finally, Zacks Investment Research lowered shares of Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. Baxter International presently has an average rating of “Buy” and a consensus target price of $75.25.

In other Baxter International news, SVP Giuseppe Accogli sold 17,647 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $77.27, for a total value of $1,363,583.69. Following the completion of the sale, the senior vice president now directly owns 59,452 shares in the company, valued at $4,593,856.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.05% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Bridgeworth LLC bought a new position in shares of Baxter International during the second quarter valued at approximately $102,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Baxter International by 3,088.9% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,435 shares of the medical instruments supplier’s stock valued at $106,000 after purchasing an additional 1,390 shares in the last quarter. Baker Ellis Asset Management LLC bought a new position in shares of Baxter International during the second quarter valued at approximately $111,000. Centaurus Financial Inc. bought a new position in shares of Baxter International during the second quarter valued at approximately $117,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of Baxter International by 84.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,748 shares of the medical instruments supplier’s stock valued at $126,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 82.28% of the company’s stock.

Shares of Baxter International stock traded down $0.39 during trading on Friday, reaching $63.48. 2,345,543 shares of the stock were exchanged, compared to its average volume of 3,151,768. The company has a current ratio of 2.60, a quick ratio of 2.00 and a debt-to-equity ratio of 0.38. The firm has a market cap of $33.75 billion, a P/E ratio of 25.60, a P/E/G ratio of 1.71 and a beta of 1.02. Baxter International has a 1 year low of $61.05 and a 1 year high of $78.38.

About Baxter International

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

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