Baxter International Downgraded to “Sector Perform” at RBC Capital (BAX)
Baxter International (NYSE:BAX) was downgraded by investment analysts at RBC Capital from an “outperform” rating to a “sector perform” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. They currently have a $73.00 price target on the stock. RBC Capital’s price objective would suggest a potential upside of 4.60% from the company’s current price.
The analysts wrote, “game changer” forthe Hemophilia A space as ~64% of patients said they would eventually switch to a longer-acting recombinant factor VIII product. “Approximately 82% of hemophilia A patients were aware of longer-acting rFVIII products in development. However, ~58% have not yet discussed these products with their hematologist, as patients see their hematologist on average ~2 times annually. Nonetheless, we expect longer-acting products to be a “game changer” for the hemophilia A space as ~64% of patients said they would eventually switch to a longer-acting rFVIII product (~32% of patients were still “unsure”).”
Shares of Baxter International (NYSE:BAX) traded up 0.53% during mid-day trading on Tuesday, hitting $69.79. 3,543,542 shares of the company’s stock traded hands. Baxter International has a one year low of $62.80 and a one year high of $74.60. The stock’s 50-day moving average is $68.04 and its 200-day moving average is $69.14. The company has a market cap of $37.875 billion and a P/E ratio of 17.58.
Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, October 17th. The company reported $1.19 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.19. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter last year, the company posted $1.14 earnings per share. Baxter International’s revenue was up 9.5% compared to the same quarter last year. Analysts expect that Baxter International will post $4.66 EPS for the current fiscal year.
A number of other firms have also recently commented on BAX. Analysts at Credit Suisse upgraded shares of Baxter International from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, November 18th. They now have a $80.00 price target on the stock, up previously from $73.00. Separately, analysts at Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Baxter International in a research note to investors on Wednesday, October 23rd. They now have a $86.00 price target on the stock. Finally, analysts at Cowen and Company downgraded shares of Baxter International from an “outperform” rating to a “market perform” rating in a research note to investors on Wednesday, October 23rd. They now have a $67.00 price target on the stock, down previously from $77.00. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $76.73.
Baxter International Inc (NYSE:BAX) is a global, diversified healthcare company.
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