Baxter International Inc (NYSE:BAX) – Analysts at Leerink Swann lowered their Q1 2019 earnings estimates for Baxter International in a research report issued to clients and investors on Thursday, January 17th. Leerink Swann analyst D. Antalffy now expects that the medical instruments supplier will earn $0.73 per share for the quarter, down from their previous forecast of $0.74. Leerink Swann has a “Outperform” rating and a $77.00 price objective on the stock. Leerink Swann also issued estimates for Baxter International’s Q2 2019 earnings at $0.83 EPS, Q4 2019 earnings at $0.82 EPS, FY2019 earnings at $3.25 EPS, Q3 2020 earnings at $0.96 EPS and FY2023 earnings at $4.96 EPS.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.06. The business had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. Baxter International had a return on equity of 17.67% and a net margin of 10.90%. The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share.
Shares of NYSE:BAX opened at $69.12 on Friday. The company has a quick ratio of 1.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.38. The company has a market cap of $36.32 billion, a P/E ratio of 27.87, a price-to-earnings-growth ratio of 1.70 and a beta of 0.96. Baxter International has a twelve month low of $61.05 and a twelve month high of $78.38.
Institutional investors and hedge funds have recently made changes to their positions in the stock. CX Institutional boosted its position in shares of Baxter International by 705.2% in the 4th quarter. CX Institutional now owns 781 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 684 shares during the period. Point72 Hong Kong Ltd acquired a new position in Baxter International in the third quarter worth $122,000. Centaurus Financial Inc. bought a new stake in Baxter International in the second quarter valued at about $117,000. Bell Rock Capital LLC bought a new stake in shares of Baxter International in the third quarter worth about $134,000. Finally, First Financial Corp IN boosted its position in Baxter International by 11.9% during the fourth quarter. First Financial Corp IN now owns 1,875 shares of the medical instruments supplier’s stock valued at $124,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s stock.
In other Baxter International news, insider Third Point Llc sold 8,000,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $68.62, for a total transaction of $548,960,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John D. Forsyth sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 13th. The stock was sold at an average price of $67.02, for a total transaction of $100,530.00. Following the completion of the sale, the director now owns 31,640 shares in the company, valued at $2,120,512.80. The disclosure for this sale can be found here. Insiders have sold a total of 8,013,249 shares of company stock valued at $549,865,102 in the last quarter. 0.07% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd were issued a $0.19 dividend. The ex-dividend date of this dividend was Friday, November 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.10%. Baxter International’s dividend payout ratio (DPR) is presently 30.65%.
Baxter International declared that its board has authorized a stock buyback program on Tuesday, November 13th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the medical instruments supplier to purchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
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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