Analysts Offer Predictions for Baxter International Inc.’s Q2 2018 Earnings (BAX)
Baxter International Inc. (NYSE:BAX) – Equities research analysts at Leerink Swann raised their Q2 2018 earnings per share estimates for Baxter International in a research report issued on Tuesday. Leerink Swann analyst D. Antalffy now anticipates that the firm will earn $0.57 per share for the quarter, up from their prior forecast of $0.55. Leerink Swann also issued estimates for Baxter International’s FY2020 earnings at $2.94 EPS.
Several other equities research analysts have also issued reports on the company. Barclays PLC assumed coverage on Baxter International in a research note on Thursday, September 15th. They issued an “overweight” rating and a $52.00 price objective for the company. Argus reaffirmed a “hold” rating on shares of Baxter International in a research note on Monday, August 15th. JPMorgan Chase & Co. raised their price objective on Baxter International from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Zacks Investment Research raised Baxter International from a “sell” rating to a “hold” rating and set a $54.00 price objective for the company in a research note on Wednesday, July 27th. Finally, RBC Capital Markets reaffirmed a “hold” rating and issued a $50.00 price objective (up from $47.00) on shares of Baxter International in a research note on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $48.25.
Baxter International (NYSE:BAX) traded up 1.45% during midday trading on Thursday, reaching $47.60. The company’s stock had a trading volume of 3,176,089 shares. The firm has a 50 day moving average price of $47.12 and a 200-day moving average price of $45.08. The company has a market cap of $25.89 billion, a P/E ratio of 5.46 and a beta of 0.64. Baxter International has a 12-month low of $32.18 and a 12-month high of $49.49.
Baxter International (NYSE:BAX) last released its earnings results on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Baxter International had a return on equity of 10.70% and a net margin of 47.74%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be issued a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.09%. Baxter International’s dividend payout ratio is presently 5.99%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. IFP Advisors Inc increased its position in shares of Baxter International by 0.5% in the second quarter. IFP Advisors Inc now owns 18,075 shares of the company’s stock worth $817,000 after buying an additional 95 shares in the last quarter. Colonial Trust Advisors increased its position in shares of Baxter International by 20.7% in the second quarter. Colonial Trust Advisors now owns 25,380 shares of the company’s stock worth $1,148,000 after buying an additional 4,350 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Baxter International by 26.6% in the second quarter. Moneta Group Investment Advisors LLC now owns 32,130 shares of the company’s stock worth $1,453,000 after buying an additional 6,760 shares in the last quarter. Madison Investment Holdings Inc. increased its position in shares of Baxter International by 51.4% in the second quarter. Madison Investment Holdings Inc. now owns 368,400 shares of the company’s stock worth $16,659,000 after buying an additional 124,995 shares in the last quarter. Finally, Wealthfront Inc. increased its position in shares of Baxter International by 6.9% in the second quarter. Wealthfront Inc. now owns 10,729 shares of the company’s stock worth $485,000 after buying an additional 688 shares in the last quarter. Institutional investors and hedge funds own 84.79% of the company’s stock.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services.
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