William Blair Equities Analysts Lift Earnings Estimates for Baxter International Inc. (NYSE:BAX)

Baxter International Inc. (NYSE:BAX) – Investment analysts at William Blair lifted their Q3 2017 earnings estimates for shares of Baxter International in a report issued on Wednesday. William Blair analyst M. Kaczor now expects that the medical instruments supplier will post earnings per share of $0.59 for the quarter, up from their prior forecast of $0.55. William Blair also issued estimates for Baxter International’s Q4 2017 earnings at $0.60 EPS.

Baxter International (NYSE:BAX) last posted its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. Baxter International had a net margin of 8.85% and a return on equity of 15.09%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis.

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A number of other research firms have also commented on BAX. Morgan Stanley lifted their price objective on shares of Baxter International from $48.00 to $52.00 and gave the company an “underweight” rating in a research note on Friday, April 28th. Cantor Fitzgerald set a $70.00 price target on shares of Baxter International and gave the stock a “buy” rating in a research note on Wednesday, July 26th. BMO Capital Markets upgraded shares of Baxter International from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $70.00 in a research note on Tuesday, July 11th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and set a $71.00 price target on shares of Baxter International in a research note on Tuesday, May 16th. Finally, UBS AG boosted their price target on shares of Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Baxter International has a consensus rating of “Buy” and a consensus target price of $65.33.

Shares of Baxter International (NYSE BAX) opened at 60.48 on Monday. The stock has a market capitalization of $32.88 billion, a price-to-earnings ratio of 36.70 and a beta of 0.66. Baxter International has a 1-year low of $43.13 and a 1-year high of $63.14. The stock’s 50 day moving average is $60.61 and its 200 day moving average is $54.67.

A number of hedge funds and other institutional investors have recently modified their holdings of BAX. Pure Financial Advisors Inc. raised its position in shares of Baxter International by 0.3% in the first quarter. Pure Financial Advisors Inc. now owns 7,459 shares of the medical instruments supplier’s stock valued at $387,000 after buying an additional 22 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Baxter International by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 2,344 shares of the medical instruments supplier’s stock valued at $113,000 after buying an additional 31 shares during the last quarter. Dumont & Blake Investment Advisors LLC raised its position in shares of Baxter International by 0.3% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 12,786 shares of the medical instruments supplier’s stock valued at $663,000 after buying an additional 40 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management raised its position in shares of Baxter International by 0.3% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 18,079 shares of the medical instruments supplier’s stock valued at $938,000 after buying an additional 54 shares during the last quarter. Finally, Reliance Trust Co. of Delaware raised its position in shares of Baxter International by 1.1% in the first quarter. Reliance Trust Co. of Delaware now owns 5,743 shares of the medical instruments supplier’s stock valued at $298,000 after buying an additional 63 shares during the last quarter. Institutional investors own 84.21% of the company’s stock.

In other Baxter International news, Director Carole J. Shapazian sold 2,618 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total transaction of $151,634.56. Following the transaction, the director now directly owns 9,848 shares in the company, valued at $570,396.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brik V. Eyre sold 130,732 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $55.69, for a total transaction of $7,280,465.08. Following the transaction, the senior vice president now owns 49,966 shares in the company, valued at $2,782,606.54. The disclosure for this sale can be found here. Insiders have sold 137,110 shares of company stock worth $7,642,246 over the last 90 days. 0.05% of the stock is currently owned by company insiders.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.64 annualized dividend and a yield of 1.06%. Baxter International’s payout ratio is currently 38.79%.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.

Earnings History and Estimates for Baxter International (NYSE:BAX)

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