Baxter International Inc. (BAX) Receives “Market Perform” Rating from Cowen and Company
Baxter International Inc. (NYSE:BAX)‘s stock had its “market perform” rating restated by research analysts at Cowen and Company in a note issued to investors on Thursday. They presently have a $68.00 price target on the medical instruments supplier’s stock, up from their previous price target of $66.00. Cowen and Company’s price target indicates a potential upside of 12.62% from the company’s previous close.
A number of other equities analysts have also weighed in on the company. Barclays PLC increased their target price on Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank Of Canada increased their target price on Baxter International from $55.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 27th. BMO Capital Markets reiterated a “hold” rating and set a $55.00 target price on shares of Baxter International in a research note on Thursday, April 27th. Cantor Fitzgerald set a $70.00 target price on Baxter International and gave the stock a “buy” rating in a research note on Wednesday. Finally, Zacks Investment Research lowered Baxter International from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Baxter International currently has a consensus rating of “Buy” and a consensus target price of $63.23.
Shares of Baxter International (NYSE:BAX) traded down 1.37% during midday trading on Thursday, reaching $60.38. The company’s stock had a trading volume of 3,414,619 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 $32.83 billion, a price-to-earnings ratio of 17.87 and a beta of 0.66. The stock has a 50 day moving average price of $60.54 and a 200-day moving average price of $54.35.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a return on equity of 14.03% and a net margin of 18.09%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. Equities research analysts expect that Baxter International will post $2.33 EPS for the current year.
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In related news, Director Carole J. Shapazian sold 2,618 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $57.92, for a total transaction of $151,634.56. Following the sale, the director now owns 9,848 shares of the company’s stock, valued at $570,396.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brik V. Eyre sold 130,732 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $55.69, for a total value of $7,280,465.08. Following the sale, the senior vice president now directly owns 49,966 shares in the company, valued at approximately $2,782,606.54. The disclosure for this sale can be found here. Insiders have sold 137,110 shares of company stock worth $7,642,246 in the last three months. 0.05% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the company. Hills Bank & Trust Co. raised its stake in shares of Baxter International by 3.5% in the first quarter. Hills Bank & Trust Co. now owns 12,146 shares of the medical instruments supplier’s stock worth $630,000 after buying an additional 407 shares during the last quarter. Charter Trust Co. increased its stake in Baxter International by 10.5% in the first quarter. Charter Trust Co. now owns 22,637 shares of the medical instruments supplier’s stock worth $1,174,000 after buying an additional 2,147 shares during the period. Triangle Securities Wealth Management increased its stake in Baxter International by 10.6% in the first quarter. Triangle Securities Wealth Management now owns 5,205 shares of the medical instruments supplier’s stock worth $270,000 after buying an additional 500 shares during the period. Pure Financial Advisors Inc. increased its stake in 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 worth $387,000 after buying an additional 22 shares during the period. Finally, Pioneer Trust Bank N A OR purchased a new stake in Baxter International during the first quarter worth $232,000. 84.13% of the stock is currently owned by institutional investors and hedge funds.
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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