Baxter International (NYSE:BAX) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Baxter International (NYSE:BAX) posted its earnings results on Thursday. The medical instruments supplier reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.07), Bloomberg Earnings reports. Baxter International had a net margin of 8.10% and a return on equity of 21.02%. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the company earned $0.89 EPS. The company’s revenue was down 4.3% on a year-over-year basis. Baxter International updated its FY 2020
Pre-Market guidance to 3.00-3.10 EPS and its FY20 guidance to $3.00-3.10 EPS.

BAX stock traded up $0.37 during midday trading on Friday, hitting $86.38. 4,038,182 shares of the stock traded hands, compared to its average volume of 2,544,913. The stock’s fifty day simple moving average is $86.00 and its 200-day simple moving average is $86.95. The firm has a market cap of $43.81 billion, a P/E ratio of 26.10, a PEG ratio of 2.75 and a beta of 0.84. Baxter International has a 1-year low of $69.10 and a 1-year high of $95.19. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.74 and a quick ratio of 2.19.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be paid a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Friday, August 28th. Baxter International’s dividend payout ratio is currently 29.61%.

Several brokerages have recently commented on BAX. Piper Sandler increased their price objective on Baxter International from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their price target on Baxter International from $94.00 to $96.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Zacks Investment Research lowered shares of Baxter International from a “hold” rating to a “sell” rating and set a $93.00 price objective for the company. in a research report on Tuesday, July 7th. KeyCorp lifted their target price on shares of Baxter International from $92.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $99.00 price target on shares of Baxter International in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $96.72.

In related news, SVP Giuseppe Accogli sold 72,341 shares of the company’s stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $85.00, for a total value of $6,148,985.00. Following the completion of the transaction, the senior vice president now owns 76,473 shares of the company’s stock, valued at approximately $6,500,205. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew Frye sold 3,742 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $91.00, for a total value of $340,522.00. Following the transaction, the senior vice president now owns 16,216 shares in the company, valued at approximately $1,475,656. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,583 shares of company stock worth $6,613,932. Corporate insiders own 0.13% of the company’s stock.

Baxter International Company Profile

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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Earnings History for Baxter International (NYSE:BAX)

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