Baxter International Stock Rating Reaffirmed by JPMorgan Chase & Co. (BAX)
Baxter International (NYSE:BAX)‘s stock had its “hold” rating reaffirmed by equities researchers at JPMorgan Chase & Co. in a research report issued on Friday, Analyst Ratings.Net reports. They currently have a $76.00 price target on the stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 16.91% from the company’s current price.
Baxter International (NYSE:BAX) traded up 0.85% during mid-day trading on Friday, hitting $65.01. The stock had a trading volume of 3,873,691 shares. Baxter International has a 1-year low of $60.24 and a 1-year high of $74.60. The stock has a 50-day moving average of $69.82 and a 200-day moving average of $70.80. The company has a market cap of $35.287 billion and a price-to-earnings ratio of 16.08. Baxter International also was the target of unusually large options trading on Thursday. Stock traders acquired 17,488 call options on the stock. This represents an increase of 471% compared to the average daily volume of 3,065 call options.
Baxter International (NYSE:BAX) last released its earnings data on Thursday, July 18th. The company reported $1.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.13 by $0.03. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts expect that Baxter International will post $4.67 EPS for the current fiscal year.
A number of other firms have also recently commented on BAX. Analysts at RBC Capital cut their price target on shares of Baxter International (NYSE:BAX) from $77.00 to $73.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Credit Suisse downgraded shares of Baxter International (NYSE:BAX) from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $73.00 price target on the stock, down previously from $81.00. Finally, analysts at CL King upgraded shares of Baxter International (NYSE:BAX) from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, September 4th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $76.80.
Baxter International Inc (NYSE:BAX) is a global, diversified healthcare company.
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