$2.74 Billion in Sales Expected for Baxter International Inc. (BAX) This Quarter
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.
COPYRIGHT VIOLATION WARNING: “$2.74 Billion in Sales Expected for Baxter International Inc. (BAX) This Quarter” was reported by American Banking News and is the property of of American Banking News. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2017/10/28/2-74-billion-in-sales-expected-for-baxter-international-inc-bax-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Baxter International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.