Baxter International (BAX) Expected to Post Quarterly Sales of $2.62 Billion

Equities analysts expect Baxter International (NYSE:BAX) to announce sales of $2.62 billion for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Baxter International’s earnings. The highest sales estimate is $2.65 billion and the lowest is $2.61 billion. Baxter International reported sales of $2.48 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.6%. The company is scheduled to issue its next earnings results before the market opens on Thursday, April 26th.

According to Zacks, analysts expect that Baxter International will report full year sales of $11.26 billion for the current fiscal year, with estimates ranging from $11.21 billion to $11.38 billion. For the next fiscal year, analysts anticipate that the company will report sales of $11.76 billion per share, with estimates ranging from $11.70 billion to $11.85 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Baxter International.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, April 26th. The medical instruments supplier reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.62 billion. Baxter International had a return on equity of 15.11% and a net margin of 6.79%. Baxter International’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 EPS.

BAX has been the subject of a number of analyst reports. JPMorgan Chase raised Baxter International from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. Bank of America raised Baxter International from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Evercore ISI initiated coverage on Baxter International in a research report on Wednesday, January 3rd. They issued an “outperform” rating and a $71.00 price target for the company. Raymond James raised Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 price target for the company in a research report on Wednesday, January 3rd. Finally, Zacks Investment Research raised Baxter International from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Six research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $71.13.

In other news, Director Carole J. Shapazian sold 4,990 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $66.05, for a total transaction of $329,589.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Gavin III sold 18,750 shares of the firm’s stock in a transaction on Wednesday, March 28th. The shares were sold at an average price of $64.56, for a total value of $1,210,500.00. Following the sale, the director now directly owns 36,398 shares of the company’s stock, valued at $2,349,854.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,500 shares of company stock valued at $1,783,512. Insiders own 0.05% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Sawyer & Company Inc purchased a new stake in Baxter International in the 4th quarter worth about $327,000. Maverick Capital Ltd. increased its holdings in Baxter International by 91.4% in the 4th quarter. Maverick Capital Ltd. now owns 108,210 shares of the medical instruments supplier’s stock worth $6,995,000 after acquiring an additional 51,670 shares during the last quarter. BancorpSouth Bank purchased a new stake in Baxter International in the 4th quarter worth about $693,000. Schwab Charles Investment Management Inc. increased its holdings in Baxter International by 1.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,673,665 shares of the medical instruments supplier’s stock worth $172,880,000 after acquiring an additional 44,117 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in Baxter International in the 4th quarter worth about $1,815,000. 85.34% of the stock is owned by hedge funds and other institutional investors.

NYSE BAX traded up $3.47 on Friday, reaching $69.99. The company had a trading volume of 5,460,103 shares, compared to its average volume of 3,270,471. The firm has a market capitalization of $35,730.18, a P/E ratio of 28.22, a PEG ratio of 1.81 and a beta of 0.80. Baxter International has a 52-week low of $55.28 and a 52-week high of $72.58. The company has a current ratio of 2.57, a quick ratio of 2.05 and a debt-to-equity ratio of 0.38.

Baxter International announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 20th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the medical instruments supplier to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 2nd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Thursday, March 1st. Baxter International’s dividend payout ratio is presently 25.81%.

Baxter International Company Profile

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

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