Baxter International Inc. (BAX) Given “Underweight” Rating at Morgan Stanley
Baxter International Inc. (NYSE:BAX)‘s stock had its “underweight” rating restated by stock analysts at Morgan Stanley in a research note issued on Tuesday. They presently have a $55.00 price target on the medical instruments supplier’s stock, up from their previous price target of $52.00. Morgan Stanley’s target price would indicate a potential downside of 11.42% from the stock’s current price.
Other research analysts also recently issued reports about the company. Royal Bank Of Canada raised their price objective on Baxter International from $55.00 to $58.00 and gave the stock a “sector perform” rating in a report on Thursday, April 27th. BMO Capital Markets reaffirmed a “hold” rating and set a $55.00 target price on shares of Baxter International in a research report on Thursday, April 27th. Zacks Investment Research cut Baxter International from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Cantor Fitzgerald assumed coverage on Baxter International in a research report on Thursday, June 29th. They set an “overweight” rating and a $70.00 target price on the stock. Finally, Barclays PLC increased their target price on Baxter International from $62.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $61.77.
Baxter International (BAX) traded down 1.02% during midday trading on Tuesday, hitting $62.09. The company had a trading volume of 3,069,973 shares. Baxter International has a 52 week low of $43.13 and a 52 week high of $63.08. The company has a market capitalization of $33.76 billion, a P/E ratio of 18.38 and a beta of 0.66. The stock has a 50 day moving average price of $60.40 and a 200 day moving average price of $54.13.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, April 26th. The medical instruments supplier reported $0.58 EPS for the quarter, topping the consensus estimate of $0.51 by $0.07. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.43 billion. Baxter International had a return on equity of 14.03% and a net margin of 18.09%. Baxter International’s quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS. Equities analysts forecast that Baxter International will post $2.27 earnings per share for the current fiscal year.
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In other Baxter International news, SVP Brik V. Eyre sold 130,732 shares of Baxter International stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $55.69, for a total transaction of $7,280,465.08. Following the completion of the transaction, the senior vice president now owns 49,966 shares in the company, valued at approximately $2,782,606.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carole J. Shapazian sold 3,760 shares of Baxter International stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $55.89, for a total value of $210,146.40. Following the transaction, the director now owns 16,226 shares of the company’s stock, valued at approximately $906,871.14. The disclosure for this sale can be found here. Insiders have sold a total of 137,110 shares of company stock valued at $7,642,246 in the last quarter. Company insiders own 0.05% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Mycio Wealth Partners LLC raised its position in Baxter International by 27.8% in the third quarter. Mycio Wealth Partners LLC now owns 2,250 shares of the medical instruments supplier’s stock worth $107,000 after buying an additional 490 shares during the last quarter. Reilly Financial Advisors LLC raised its position in Baxter International by 20.4% in the first quarter. Reilly Financial Advisors LLC now owns 2,054 shares of the medical instruments supplier’s stock worth $107,000 after buying an additional 348 shares during the last quarter. Quadrant Capital Group LLC raised its position in Baxter International by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 2,344 shares of the medical instruments supplier’s stock worth $113,000 after buying an additional 31 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in Baxter International during the fourth quarter worth $120,000. Finally, Trust Department MB Financial Bank N A raised its position in Baxter International by 4.1% in the second quarter. Trust Department MB Financial Bank N A now owns 1,746 shares of the medical instruments supplier’s stock worth $122,000 after buying an additional 68 shares during the last quarter. Institutional investors and hedge funds own 84.13% of the company’s stock.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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