Baxter International Inc. (NYSE:BAX) had its target price hoisted by Barclays PLC from $64.00 to $70.00 in a research note issued on Thursday. The brokerage currently has an “overweight” rating on the medical instruments supplier’s stock. Barclays PLC’s price objective suggests a potential upside of 14.34% from the company’s previous close.

A number of other equities analysts also recently weighed in on the company. Cantor Fitzgerald set a $70.00 price target on Baxter International and gave the stock a “buy” rating in a research report on Wednesday. Morgan Stanley reaffirmed an “underweight” rating and set a $55.00 price target (up previously from $52.00) on shares of Baxter International in a research report on Tuesday. BMO Capital Markets raised Baxter International from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $55.00 to $70.00 in a research report on Tuesday, July 11th. They noted that the move was a valuation call. Cowen and Company reaffirmed a “market perform” rating and set a $66.00 price target (up previously from $57.00) on shares of Baxter International in a research report on Monday, July 10th. Finally, Stifel Nicolaus upped their price target on Baxter International from $58.00 to $61.00 and gave the stock a “hold” rating in a research report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Baxter International presently has an average rating of “Buy” and a consensus price target of $62.23.

Shares of Baxter International (NYSE:BAX) traded down 2.03% during trading on Thursday, reaching $59.98. 1,589,618 shares of the company traded hands. Baxter International has a 12 month low of $43.13 and a 12 month high of $63.08. The stock has a market cap of $32.61 billion, a P/E ratio of 17.75 and a beta of 0.66. The stock’s 50 day moving average price is $60.52 and its 200-day moving average price is $54.30.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. Baxter International had a return on equity of 14.03% and a net margin of 18.09%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same period in the previous year, the firm earned $0.46 EPS. Baxter International’s quarterly revenue was up .8% compared to the same quarter last year. On average, equities research analysts expect that Baxter International will post $2.33 EPS for the current fiscal year.

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In other Baxter International news, Director Carole J. Shapazian sold 2,618 shares of Baxter International stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $57.92, for a total value of $151,634.56. Following the completion of the sale, the director now directly owns 9,848 shares in the company, valued at $570,396.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Carole J. Shapazian sold 3,760 shares of Baxter International stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $55.89, for a total value of $210,146.40. Following the completion of the sale, the director now owns 16,226 shares of the company’s stock, valued at $906,871.14. The disclosure for this sale can be found here. Insiders have sold 137,110 shares of company stock valued at $7,642,246 over the last 90 days. 0.05% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in BAX. Pure Financial Advisors Inc. boosted its position in shares of Baxter International by 0.3% in the first quarter. Pure Financial Advisors Inc. now owns 7,459 shares of the medical instruments supplier’s stock valued at $387,000 after buying an additional 22 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of 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 valued at $113,000 after buying an additional 31 shares during the last quarter. Dumont & Blake Investment Advisors LLC boosted its position in shares of Baxter International by 0.3% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 12,786 shares of the medical instruments supplier’s stock valued at $663,000 after buying an additional 40 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management boosted its position in shares of Baxter International by 0.3% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 18,079 shares of the medical instruments supplier’s stock valued at $938,000 after buying an additional 54 shares during the last quarter. Finally, Reliance Trust Co. of Delaware boosted its position in shares of Baxter International by 1.1% in the first quarter. Reliance Trust Co. of Delaware now owns 5,743 shares of the medical instruments supplier’s stock valued at $298,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors 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.

Analyst Recommendations for Baxter International (NYSE:BAX)

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