Zacks: Analysts Anticipate Baxter International Inc (NYSE:BAX) Will Post Quarterly Sales of $2.86 Billion

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Wall Street brokerages expect Baxter International Inc (NYSE:BAX) to report sales of $2.86 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Baxter International’s earnings, with the lowest sales estimate coming in at $2.85 billion and the highest estimate coming in at $2.88 billion. Baxter International posted sales of $2.77 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 3.2%. The firm is expected to issue its next earnings results before the market opens on Thursday, October 24th.

According to Zacks, analysts expect that Baxter International will report full-year sales of $11.27 billion for the current fiscal year, with estimates ranging from $11.25 billion to $11.30 billion. For the next year, analysts forecast that the business will post sales of $11.79 billion, with estimates ranging from $11.71 billion to $11.89 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Baxter International.

A number of research analysts recently commented on BAX shares. BMO Capital Markets boosted their price target on Baxter International to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Barclays set a $82.00 price target on Baxter International and gave the company a “hold” rating in a research note on Friday, July 26th. Raymond James boosted their price target on Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Credit Suisse Group boosted their price target on Baxter International from $84.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Deutsche Bank started coverage on Baxter International in a research note on Monday, October 21st. They issued a “buy” rating and a $109.00 price target for the company. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $90.14.

BAX stock traded up $0.51 during midday trading on Tuesday, reaching $78.51. The company had a trading volume of 3,037,457 shares, compared to its average volume of 2,768,937. The company has a market capitalization of $39.56 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 2.00 and a beta of 0.97. The stock has a 50 day moving average price of $84.08 and a 200-day moving average price of $82.11. Baxter International has a 1-year low of $61.40 and a 1-year high of $89.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.78 and a quick ratio of 2.10.

In other Baxter International news, Director James R. Gavin III sold 7,950 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $87.63, for a total transaction of $696,658.50. Following the completion of the transaction, the director now owns 40,932 shares of the company’s stock, valued at $3,586,871.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Andrew Frye sold 3,332 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $88.00, for a total value of $293,216.00. Following the transaction, the senior vice president now directly owns 16,391 shares of the company’s stock, valued at approximately $1,442,408. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,396 shares of company stock valued at $1,528,575. Insiders own 0.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in Baxter International by 1.4% during the second quarter. BlackRock Inc. now owns 40,589,288 shares of the medical instruments supplier’s stock worth $3,324,263,000 after acquiring an additional 560,814 shares in the last quarter. Morgan Stanley raised its stake in Baxter International by 5.5% during the second quarter. Morgan Stanley now owns 17,154,303 shares of the medical instruments supplier’s stock worth $1,404,937,000 after acquiring an additional 895,279 shares in the last quarter. Northern Trust Corp raised its stake in Baxter International by 0.6% during the second quarter. Northern Trust Corp now owns 8,758,537 shares of the medical instruments supplier’s stock worth $717,323,000 after acquiring an additional 54,889 shares in the last quarter. Veritas Asset Management LLP raised its stake in Baxter International by 0.5% during the second quarter. Veritas Asset Management LLP now owns 7,886,549 shares of the medical instruments supplier’s stock worth $645,908,000 after acquiring an additional 35,600 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Baxter International by 43.4% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 6,430,469 shares of the medical instruments supplier’s stock worth $526,655,000 after acquiring an additional 1,945,800 shares in the last quarter. 83.45% of the stock is owned by hedge funds and other institutional investors.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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