William Blair Weighs in on Baxter International Inc’s Q4 2018 Earnings (BAX)

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Baxter International Inc (NYSE:BAX) – Stock analysts at William Blair lowered their Q4 2018 earnings estimates for Baxter International in a report issued on Wednesday, October 31st. William Blair analyst M. Kaczor now anticipates that the medical instruments supplier will post earnings per share of $0.72 for the quarter, down from their prior forecast of $0.77. William Blair also issued estimates for Baxter International’s Q4 2019 earnings at $0.86 EPS.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.79 billion. Baxter International had a net margin of 10.90% and a return on equity of 17.72%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share.

Several other research analysts have also recently weighed in on the stock. Morgan Stanley cut their price target on shares of Baxter International from $75.00 to $66.00 and set an “underweight” rating on the stock in a report on Monday. Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Friday, November 2nd. Piper Jaffray Companies cut their price target on shares of Baxter International from $83.00 to $72.00 and set an “overweight” rating on the stock in a report on Thursday, November 1st. BMO Capital Markets cut their price target on shares of Baxter International from $86.00 to $76.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Finally, Leerink Swann dropped their target price on shares of Baxter International from $90.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $75.63.

Baxter International stock opened at $63.43 on Monday. Baxter International has a fifty-two week low of $61.05 and a fifty-two week high of $78.38. The stock has a market cap of $33.22 billion, a P/E ratio of 25.58, a PEG ratio of 1.67 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.00 and a current ratio of 2.62.

In other Baxter International news, SVP Giuseppe Accogli sold 17,647 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $77.27, for a total value of $1,363,583.69. Following the transaction, the senior vice president now directly owns 59,452 shares in the company, valued at $4,593,856.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Natixis raised its position in shares of Baxter International by 62.5% in the second quarter. Natixis now owns 716,411 shares of the medical instruments supplier’s stock valued at $52,900,000 after purchasing an additional 275,452 shares during the period. AMP Capital Investors Ltd raised its position in shares of Baxter International by 1.5% in the second quarter. AMP Capital Investors Ltd now owns 267,439 shares of the medical instruments supplier’s stock valued at $19,749,000 after purchasing an additional 3,839 shares during the period. First Hawaiian Bank bought a new stake in shares of Baxter International in the third quarter valued at approximately $1,639,000. Putnam Investments LLC raised its position in shares of Baxter International by 33.9% in the second quarter. Putnam Investments LLC now owns 1,330,139 shares of the medical instruments supplier’s stock valued at $98,217,000 after purchasing an additional 336,950 shares during the period. Finally, Swiss National Bank raised its position in shares of Baxter International by 6.1% in the second quarter. Swiss National Bank now owns 2,191,439 shares of the medical instruments supplier’s stock valued at $161,816,000 after purchasing an additional 125,700 shares during the period. 82.28% 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.

Further Reading: Technical Analysis

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

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