Baxter International Inc. (BAX) Now Covered by Wells Fargo & Co.
Stock analysts at Wells Fargo & Co. started coverage on shares of Baxter International Inc. (NYSE:BAX) in a report issued on Thursday. The brokerage set an “outperform” rating on the stock.
A number of other equities analysts also recently weighed in on BAX. Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Tuesday, June 28th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Baxter International in a research note on Wednesday, July 6th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $45.00 target price on shares of Baxter International in a research note on Friday, July 8th. Royal Bank Of Canada raised their target price on shares of Baxter International from $47.00 to $50.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 27th. Finally, RBC Capital Markets reaffirmed a “hold” rating and set a $50.00 target price (up previously from $47.00) on shares of Baxter International in a research note on Wednesday, July 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $48.25.
Shares of Baxter International (NYSE:BAX) opened at 46.98 on Thursday. Baxter International has a 52-week low of $32.96 and a 52-week high of $49.49. The stock has a market cap of $25.55 billion, a P/E ratio of 5.39 and a beta of 0.71. The firm’s 50 day moving average price is $47.02 and its 200 day moving average price is $45.51.
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Baxter International (NYSE:BAX) last announced its earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Baxter International had a net margin of 47.74% and a return on equity of 10.70%. The business earned $2.60 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts expect that Baxter International will post $1.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Wednesday, August 31st. Baxter International’s dividend payout ratio is presently 5.99%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Trust Department MB Financial Bank N A boosted its position in shares of Baxter International by 4.1% in the second quarter. Trust Department MB Financial Bank N A now owns 1,746 shares of the company’s stock valued at $122,000 after buying an additional 68 shares in the last quarter. Balentine LLC boosted its position in shares of Baxter International by 12.6% in the second quarter. Balentine LLC now owns 3,176 shares of the company’s stock valued at $144,000 after buying an additional 356 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Baxter International by 1.9% in the second quarter. Checchi Capital Advisers LLC now owns 4,333 shares of the company’s stock valued at $196,000 after buying an additional 81 shares in the last quarter. Pioneer Trust Bank N A OR acquired a new position in shares of Baxter International during the second quarter valued at $203,000. Finally, Cobblestone Capital Advisors LLC NY acquired a new position in shares of Baxter International during the second quarter valued at $203,000. Institutional investors and hedge funds own 84.81% 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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