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Baxter International Inc. (BAX), headquartered in Deerfield, Illinois, is a healthcare leader committed to transforming lives through innovative medical products and therapies. With a strong focus on advancing patient care, Baxter delivers critical solutions in renal care, pharmaceuticals, and advanced surgical technologies. Valued at a market cap of $15.8 billion, the company is driving progress in healthcare innovation and accessibility. Baxter is set to release its Q4 earnings on Thursday, Feb. 13.
Ahead of the event, analysts forecast the drug and medical device maker to post a profit of $0.52 per share, down 40.9% from $0.88 per share in the same quarter last year. The company has consistently surpassed Wall Street's bottom-line projections in the past four quarters.
In Q3, the company reported an EPS of $0.80, which topped the consensus estimates by 2.6%. Baxter's Q3 beat was driven by strong demand for Medical Products & Therapies, including the successful U.S. launch of the Novum IQ infusion pump.
For fiscal 2024, analysts expect BAX to report EPS of $1.83, a 29.6% decline from $2.60 in fiscal 2023.
Baxter International's shares have fallen 19.9% over the past year, significantly trailing the S&P 500 Index's ($SPX) 26.5% gain and the Health Care Select Sector SPDR Fund's (XLV) marginal gain during the same period.
Baxter International's shares fell 3.9% on Nov. 8 after the release of its Q3 earnings. The company reported revenue of $3.85 billion, narrowly surpassing the consensus estimate of $3.84 billion. Baxter's revised 2024 guidance accounts for the effects of discontinuing Kidney Care operations and the impact of Hurricane Helene, excluding the discontinued operations of BPS. For the full year, the company projects sales growth in the range of 1% to 2%.
Analysts' consensus rating on BAX stock is cautious, with a "Hold" rating overall. Out of 13 analysts covering the stock, two suggest a "Strong Buy," 10 has a "Hold," and one advises a "Moderate Sell." The average analyst price target for BAX is $37.12, suggesting a modest potential upside of 19.8% from current levels.
