Brokerages forecast that Baxter International Inc. (NYSE:BAX) will announce sales of $2.74 billion for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Baxter International’s earnings, with estimates ranging from $2.73 billion to $2.76 billion. Baxter International reported sales of $2.65 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.4%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, February 7th.

According to Zacks, analysts expect that Baxter International will report full year sales of $2.74 billion for the current financial year, with estimates ranging from $10.43 billion to $10.57 billion. For the next fiscal year, analysts forecast that the company will post sales of $10.94 billion per share, with estimates ranging from $10.87 billion to $11.04 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Baxter International.

Baxter International (NYSE:BAX) last posted its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 9.88% and a return on equity of 15.32%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year.

A number of research analysts recently commented on BAX shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $60.00 price target on shares of Baxter International in a research note on Friday, September 1st. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Tuesday, October 10th. UBS AG boosted their target price on Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Barclays PLC boosted their target price on Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Finally, BidaskClub raised Baxter International from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 14th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $67.00.

Shares of Baxter International (NYSE:BAX) opened at 65.68 on Friday. The stock has a 50 day moving average of $63.29 and a 200 day moving average of $60.03. Baxter International has a 12-month low of $43.13 and a 12-month high of $65.70. The company has a market cap of $35.79 billion, a price-to-earnings ratio of 39.85 and a beta of 0.65.

In related news, SVP Giuseppe Accogli sold 12,670 shares of the company’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 value of $772,363.20. Following the sale, the senior vice president now directly owns 33,286 shares in the company, valued at $2,029,114.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carole J. Shapazian sold 4,020 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $61.61, for a total value of $247,672.20. Following the completion of the sale, the director now owns 13,868 shares in the company, valued at $854,407.48. The disclosure for this sale can be found here. Insiders sold 35,050 shares of company stock worth $2,158,587 over the last quarter. 0.05% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Liberty Capital Management Inc. boosted its holdings in Baxter International by 12.0% in the third quarter. Liberty Capital Management Inc. now owns 32,160 shares of the medical instruments supplier’s stock valued at $2,045,000 after acquiring an additional 3,453 shares during the last quarter. Community Financial Services Group LLC acquired a new position in Baxter International in the third quarter valued at approximately $278,000. Huntington National Bank lifted its stake in Baxter International by 12.2% in the third quarter. Huntington National Bank now owns 360,868 shares of the medical instruments supplier’s stock valued at $22,644,000 after buying an additional 39,226 shares during the period. Xact Kapitalforvaltning AB lifted its stake in Baxter International by 2.0% in the third quarter. Xact Kapitalforvaltning AB now owns 96,527 shares of the medical instruments supplier’s stock valued at $6,057,000 after buying an additional 1,901 shares during the period. Finally, Oxbow Advisors LLC acquired a new position in Baxter International in the third quarter valued at approximately $1,472,000. Institutional investors and hedge funds own 83.67% of the company’s stock.

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

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