Baxter International Inc. (NYSE:BAX) Given Consensus Rating of “Hold” by Brokerages
Baxter International Inc. (NYSE:BAX) has been assigned a consensus recommendation of “Hold” from the fourteen brokerages that are covering the firm. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $49.00.
A number of brokerages have issued reports on BAX. Barclays PLC began coverage on Baxter International in a research note on Thursday, September 15th. They issued an “overweight” rating and a $52.00 price target on the stock. RBC Capital Markets reaffirmed a “hold” rating and issued a $50.00 price objective (up from $47.00) on shares of Baxter International in a research note on Wednesday, July 27th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $45.00 price objective on shares of Baxter International in a research note on Friday, July 8th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of Baxter International in a research note on Monday, June 13th. Finally, Royal Bank Of Canada lifted their price objective on Baxter International from $47.00 to $50.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 27th.
Shares of Baxter International (NYSE:BAX) traded up 0.46% during trading on Friday, reaching $48.44. The company had a trading volume of 2,006,339 shares. The firm has a 50-day moving average price of $47.06 and a 200-day moving average price of $45.30. The company has a market capitalization of $26.35 billion, a P/E ratio of 5.56 and a beta of 0.71. Baxter International has a 52-week low of $32.92 and a 52-week high of $49.49.
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Baxter International (NYSE:BAX) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. Baxter International had a return on equity of 10.70% and a net margin of 47.74%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the company earned $1.00 EPS. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts predict that Baxter International will post $1.73 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd were given a $0.13 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.52 annualized dividend and a dividend yield of 1.08%. Baxter International’s dividend payout ratio is currently 5.99%.
Several hedge funds and other institutional investors have recently bought and sold shares of BAX. Ngam Advisors L.P. raised its position in Baxter International by 133.8% in the first quarter. Ngam Advisors L.P. now owns 117,148 shares of the company’s stock valued at $4,813,000 after buying an additional 67,045 shares in the last quarter. Advisor Partners LLC increased its stake in shares of Baxter International by 88.1% in the first quarter. Advisor Partners LLC now owns 11,946 shares of the company’s stock valued at $491,000 after buying an additional 5,595 shares during the last quarter. Cannell Peter B & Co Inc increased its stake in shares of Baxter International by 33.1% in the first quarter. Cannell Peter B & Co Inc now owns 32,965 shares of the company’s stock valued at $1,354,000 after buying an additional 8,200 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of Baxter International by 2.1% in the first quarter. Riverhead Capital Management LLC now owns 235,633 shares of the company’s stock valued at $9,681,000 after buying an additional 4,856 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Baxter International by 1.9% in the first quarter. Geode Capital Management LLC now owns 4,375,204 shares of the company’s stock valued at $179,363,000 after buying an additional 82,132 shares during the last quarter. Institutional investors and hedge funds own 84.79% of the company’s stock.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services.
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