Baxter International (NYSE:BAX) Posts Earnings Results, Beats Expectations By $0.02 EPS

Baxter International (NYSE:BAX) issued its quarterly earnings results on Friday. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02, Briefing.com reports. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share.

Baxter International Price Performance

Shares of NYSE:BAX traded down $1.40 during trading on Friday, reaching $34.64. The company had a trading volume of 6,636,750 shares, compared to its average volume of 4,048,272. The firm’s fifty day moving average is $37.39 and its 200 day moving average is $36.12. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40. The firm has a market capitalization of $17.67 billion, a PE ratio of 7.13, a price-to-earnings-growth ratio of 1.21 and a beta of 0.60. Baxter International has a twelve month low of $32.48 and a twelve month high of $44.01.

Analyst Ratings Changes

BAX has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley downgraded shares of Baxter International from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $39.00 to $30.00 in a research report on Monday, July 15th. StockNews.com raised shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company dropped their price objective on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their target price on Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Baxter International has a consensus rating of “Hold” and a consensus price target of $41.20.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.