Baxter International Inc. (BAX) Scheduled to Post Quarterly Earnings on Wednesday
Baxter International Inc. (NYSE:BAX) is scheduled to announce its earnings results before the market opens on Wednesday, October 25th. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Baxter International has set its Q3 guidance at $0.58-0.60 EPS and its FY17 guidance at $2.34-2.40 EPS.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts expect Baxter International to post $2.39 EPS for the current fiscal year and $2.67 EPS for the next fiscal year.
Shares of Baxter International Inc. (NYSE BAX) opened at 63.92 on Wednesday. The firm has a 50 day moving average of $62.89 and a 200 day moving average of $59.41. The stock has a market cap of $34.83 billion, a P/E ratio of 38.79 and a beta of 0.65. Baxter International Inc. has a one year low of $43.13 and a one year high of $64.75.
In related news, Director Thomas T. Stallkamp sold 8,920 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $62.28, for a total transaction of $555,537.60. Following the completion of the sale, the director now directly owns 16,263 shares in the company, valued at $1,012,859.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Giuseppe Accogli sold 12,670 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $60.96, for a total transaction of $772,363.20. Following the sale, the senior vice president now owns 33,286 shares of the company’s stock, valued at $2,029,114.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,050 shares of company stock valued at $2,158,587. 0.05% of the stock is currently owned by corporate insiders.
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Several research firms have recently weighed in on BAX. Cowen and Company set a $68.00 price objective on shares of Baxter International and gave the company a “hold” rating in a research report on Sunday. Cantor Fitzgerald set a $70.00 target price on shares of Baxter International and gave the stock a “buy” rating in a report on Wednesday, July 26th. Citigroup Inc. assumed coverage on shares of Baxter International in a report on Thursday, August 17th. They issued a “neutral” rating and a $63.00 target price for the company. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Monday. Finally, Leerink Swann reiterated an “outperform” rating and issued a $75.00 target price (up from $67.00) on shares of Baxter International in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $65.69.
About Baxter International
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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