Baxter International Given Neutral Rating at Zacks (BAX)
Baxter International (NYSE:BAX)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Tuesday. They currently have a $79.00 price objective on the stock. Zacks‘s price objective would suggest a potential upside of 5.36% from the stock’s previous close.
Zacks’ analyst wrote, “Baxter’s 2014-second quarter adjusted earnings per share of $1.26 grew 5.0% y-o-y and beat the Zacks Consensus Estimate by $0.05. Revenues of $4,264 million were up 16.2% and topped the mark as well. We are impressed by the company’s upgraded revenue guidance but narrow earnings guidance for full year 2014. Although expensive, the Gambro acquisition has long term prospects for Baxter. Further, a solid product pipeline and strategic collaborations, represents key value drivers for the company. However, we are concerned about integration-related risks along with a somber outlook for hospital. As a result, we reiterate our Neutral recommendation on Baxter with a target of $79.00.”
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Baxter International in a research note on Friday, July 18th. They now have a $76.00 price target on the stock, up previously from $75.00. Separately, analysts at RBC Capital raised their price target on shares of Baxter International from $76.00 to $78.00 in a research note on Friday, July 18th. They now have a “sector perform” rating on the stock. Finally, analysts at Leerink Swann raised their price target on shares of Baxter International from $83.00 to $85.00 in a research note on Friday, July 18th. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $79.23.
Baxter International (NYSE:BAX) traded down 0.68% on Tuesday, hitting $74.47. 734,070 shares of the company’s stock traded hands. Baxter International has a one year low of $62.80 and a one year high of $77.31. The stock’s 50-day moving average is $75.50 and its 200-day moving average is $73.02. The company has a market cap of $40.338 billion and a price-to-earnings ratio of 21.13.
Baxter International (NYSE:BAX) last announced its earnings results on Thursday, July 17th. The company reported $1.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.22 by $0.04. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter last year, the company posted $1.16 earnings per share. Baxter International’s revenue was up 16.2% compared to the same quarter last year. Analysts expect that Baxter International will post $5.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Friday, September 5th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Wednesday, September 3rd.
Baxter International Inc (NYSE:BAX) is a global, diversified healthcare company.
To view Zacks’ full report, visit Zacks’ official website.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.