Baxter International Inc. (BAX) Now Covered by Analysts at Citigroup Inc.
Analysts at Citigroup Inc. started coverage on shares of Baxter International Inc. (NYSE:BAX) in a note issued to investors on Thursday, Marketbeat reports. The firm set a “neutral” rating and a $63.00 price target on the medical instruments supplier’s stock. Citigroup Inc.’s price target would indicate a potential upside of 2.67% from the company’s current price.
A number of other research analysts have also weighed in on the company. BidaskClub raised Baxter International from a “buy” rating to a “strong-buy” rating in a report on Monday. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. UBS AG lifted their price target on Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, July 28th. Leerink Swann restated an “outperform” rating and issued a $75.00 target price (up from $67.00) on shares of Baxter International in a research note on Thursday, July 27th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $68.00 price target (up previously from $66.00) on shares of Baxter International in a research note on Thursday, July 27th. One investment 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 company. The company presently has an average rating of “Buy” and an average target price of $65.15.
Baxter International (BAX) traded down 0.34% during trading on Thursday, hitting $61.15. 409,166 shares of the stock traded hands. The company has a 50-day moving average price of $60.87 and a 200 day moving average price of $55.73. Baxter International has a one year low of $43.13 and a one year high of $63.14. The stock has a market cap of $33.32 billion, a PE ratio of 37.11 and a beta of 0.66.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The company’s revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. Analysts expect that Baxter International will post $2.39 earnings per share for the current year.
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In other Baxter International news, Director Carole J. Shapazian sold 2,618 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total transaction of $151,634.56. Following the sale, the director now directly owns 9,848 shares of the company’s stock, valued at $570,396.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Reilly Financial Advisors LLC increased its position in shares of 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 period. Baker Ellis Asset Management LLC acquired a new position in shares of Baxter International during the second quarter worth approximately $109,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Baxter International by 6.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,533 shares of the medical instruments supplier’s stock worth $131,000 after buying an additional 145 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in shares of Baxter International by 3.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock worth $144,000 after buying an additional 103 shares during the period. Finally, Acrospire Investment Management LLC increased its position in shares of Baxter International by 71.3% in the second quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock worth $145,000 after buying an additional 1,000 shares during the period. 84.29% of the stock is owned by hedge funds and other institutional investors.
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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