Brokerages Expect Baxter International Inc (BAX) Will Announce Quarterly Sales of $2.79 Billion

Equities analysts expect Baxter International Inc (NYSE:BAX) to report $2.79 billion in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Baxter International’s earnings. The lowest sales estimate is $2.78 billion and the highest is $2.79 billion. Baxter International reported sales of $2.71 billion in the same quarter last year, which would suggest a positive year over year growth rate of 3%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, October 31st.

According to Zacks, analysts expect that Baxter International will report full-year sales of $11.20 billion for the current year, with estimates ranging from $11.18 billion to $11.26 billion. For the next year, analysts expect that the firm will post sales of $11.68 billion, with estimates ranging from $11.54 billion to $11.84 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Baxter International.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, July 26th. The medical instruments supplier reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.06. Baxter International had a return on equity of 16.63% and a net margin of 8.29%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis.

A number of equities research analysts recently weighed in on BAX shares. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Tuesday. Royal Bank of Canada restated a “hold” rating and issued a $76.00 price target on shares of Baxter International in a research note on Friday, July 27th. Argus restated a “hold” rating on shares of Baxter International in a research note on Tuesday, September 4th. Citigroup increased their price target on Baxter International from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Tuesday, July 31st. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $77.00 price objective on shares of Baxter International in a research report on Thursday, May 31st. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $76.43.

BAX traded down $0.30 during trading hours on Monday, reaching $76.60. The company’s stock had a trading volume of 2,181,900 shares, compared to its average volume of 3,021,469. Baxter International has a 52 week low of $60.78 and a 52 week high of $78.38. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 0.39. The stock has a market cap of $41.38 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 2.09 and a beta of 0.74.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Friday, August 31st will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, August 30th. Baxter International’s dividend payout ratio (DPR) is currently 30.65%.

In other news, SVP Giuseppe Accogli sold 17,647 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $77.27, for a total transaction of $1,363,583.69. Following the sale, the senior vice president now directly owns 59,452 shares of the company’s stock, valued at approximately $4,593,856.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Carole J. Shapazian sold 5,400 shares of the stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $72.97, for a total value of $394,038.00. Following the sale, the director now directly owns 15,248 shares in the company, valued at $1,112,646.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,733 shares of company stock worth $2,559,072. 0.05% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BKD Wealth Advisors LLC boosted its stake in Baxter International by 1.8% in the second quarter. BKD Wealth Advisors LLC now owns 41,331 shares of the medical instruments supplier’s stock valued at $3,052,000 after buying an additional 732 shares in the last quarter. FineMark National Bank & Trust boosted its stake in Baxter International by 6.0% in the second quarter. FineMark National Bank & Trust now owns 13,239 shares of the medical instruments supplier’s stock valued at $978,000 after buying an additional 753 shares in the last quarter. Cpwm LLC boosted its stake in Baxter International by 22.8% in the second quarter. Cpwm LLC now owns 4,230 shares of the medical instruments supplier’s stock valued at $312,000 after buying an additional 784 shares in the last quarter. Knowledge Leaders Capital LLC boosted its stake in Baxter International by 1.0% in the second quarter. Knowledge Leaders Capital LLC now owns 79,384 shares of the medical instruments supplier’s stock valued at $5,862,000 after buying an additional 786 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Baxter International by 84.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,748 shares of the medical instruments supplier’s stock valued at $126,000 after buying an additional 800 shares in the last quarter. 83.04% of the stock is currently owned by institutional investors.

About Baxter International

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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