Baxter International Inc. (BAX) Research Coverage Started at Wells Fargo & Co.
Stock analysts at Wells Fargo & Co. initiated coverage on shares of Baxter International Inc. (NYSE:BAX) in a note issued to investors on Thursday. The firm set an “outperform” rating on the stock.
A number of other equities research analysts also recently weighed in on BAX. Barclays PLC began coverage on shares of Baxter International in a research note on Thursday, September 15th. They issued an “overweight” rating and a $52.00 price target on the stock. JPMorgan Chase & Co. restated a “hold” rating and issued a $45.00 price target on shares of Baxter International in a research note on Friday, July 8th. RBC Capital Markets restated a “hold” rating and issued a $50.00 price target (up from $47.00) on shares of Baxter International in a research note on Wednesday, July 27th. Royal Bank Of Canada raised their price target 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, Zacks Investment Research upgraded shares of Baxter International from a “sell” rating to a “hold” rating and set a $54.00 price target on the stock in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $48.25.
Baxter International (NYSE:BAX) opened at 46.98 on Thursday. The company’s 50-day moving average is $47.02 and its 200-day moving average is $45.51. The firm has a market cap of $25.55 billion, a PE ratio of 5.39 and a beta of 0.71. Baxter International has a one year low of $32.96 and a one year high of $49.49.
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Baxter International (NYSE:BAX) last announced its quarterly earnings data 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. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.51 billion. Baxter International had a net margin of 47.74% and a return on equity of 10.70%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. On average, analysts forecast that Baxter International will post $1.73 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd were given 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 was Wednesday, August 31st. Baxter International’s dividend payout ratio (DPR) is 5.99%.
Several hedge funds have recently made changes to their positions in the company. Trust Department MB Financial Bank N A increased its stake 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 during the period. Balentine LLC increased its stake 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 during the period. Checchi Capital Advisers LLC increased its stake 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 during the period. Pioneer Trust Bank N A OR bought a new stake in shares of Baxter International during the second quarter valued at approximately $203,000. Finally, Cobblestone Capital Advisors LLC NY bought a new stake in shares of Baxter International during the second quarter valued at approximately $203,000. 84.81% of the stock is owned by institutional investors.
About Baxter International
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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