Baxter International (NYSE:BAX) Posts Earnings Results, Beats Estimates By $0.08 EPS
Baxter International (NYSE:BAX) announced its quarterly earnings results on Thursday. The medical instruments supplier reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.08, Briefing.com reports. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Baxter International had a return on equity of 20.98% and a net margin of 14.28%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business posted $0.77 earnings per share. Baxter International updated its Q3 guidance to $0.82-0.84 EPS and its FY19 guidance to $3.34-3.40 EPS.
NYSE:BAX traded down $0.01 during mid-day trading on Friday, reaching $85.15. The company’s stock had a trading volume of 2,545,105 shares, compared to its average volume of 2,248,267. The stock’s fifty day moving average price is $81.27. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.30 and a current ratio of 1.83. Baxter International has a twelve month low of $61.05 and a twelve month high of $86.65. The company has a market cap of $43.44 billion, a PE ratio of 27.92, a P/E/G ratio of 1.99 and a beta of 0.99.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Thursday, August 29th. Baxter International’s payout ratio is 28.85%.
In other Baxter International news, Director John D. Forsyth sold 1,320 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $78.21, for a total value of $103,237.20. Following the sale, the director now directly owns 32,779 shares of the company’s stock, valued at approximately $2,563,645.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jacqueline Kunzler sold 593 shares of the firm’s stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $80.46, for a total value of $47,712.78. Following the completion of the sale, the senior vice president now directly owns 9,023 shares in the company, valued at $725,990.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,002,913 shares of company stock worth $382,077,150. 0.70% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Partners LLC lifted its stake in shares of Baxter International by 2.1% in the 2nd quarter. Advisor Partners LLC now owns 25,243 shares of the medical instruments supplier’s stock valued at $2,067,000 after purchasing an additional 523 shares in the last quarter. Community Bank N.A. lifted its stake in shares of Baxter International by 78.8% in the 2nd quarter. Community Bank N.A. now owns 2,780 shares of the medical instruments supplier’s stock valued at $227,000 after purchasing an additional 1,225 shares in the last quarter. Northpointe Capital LLC acquired a new position in shares of Baxter International in the 2nd quarter valued at about $3,852,000. Park Avenue Securities LLC lifted its stake in shares of Baxter International by 7.9% in the 2nd quarter. Park Avenue Securities LLC now owns 5,839 shares of the medical instruments supplier’s stock valued at $478,000 after purchasing an additional 429 shares in the last quarter. Finally, Edge Capital Group LLC lifted its stake in shares of Baxter International by 18.1% in the 2nd quarter. Edge Capital Group LLC now owns 3,133 shares of the medical instruments supplier’s stock valued at $257,000 after purchasing an additional 480 shares in the last quarter. 83.97% of the stock is currently owned by institutional investors and hedge funds.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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