Baxter International Inc. (BAX) Receives Average Recommendation of “Buy” from Analysts
Baxter International Inc. (NYSE:BAX) has received an average recommendation of “Buy” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $65.42.
A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald set a $70.00 price objective on shares of Baxter International and gave the company a “buy” rating in a report on Wednesday, July 26th. Cowen and Company reiterated a “market perform” rating and set a $68.00 price objective (up from $66.00) on shares of Baxter International in a report on Thursday, July 27th. Citigroup Inc. assumed coverage on shares of Baxter International in a report on Thursday, August 17th. They set a “neutral” rating and a $63.00 price objective for the company. Leerink Swann reiterated an “outperform” rating and set a $75.00 price objective (up from $67.00) on shares of Baxter International in a report on Thursday, July 27th. Finally, Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st.
In other Baxter International news, Director Carole J. Shapazian sold 4,020 shares of Baxter International stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $61.61, for a total value of $247,672.20. Following the sale, the director now owns 13,868 shares of the company’s stock, valued at $854,407.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Giuseppe Accogli sold 12,670 shares of Baxter International stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $60.96, for a total transaction of $772,363.20. Following the completion of the sale, the senior vice president now directly owns 33,286 shares in the company, valued at approximately $2,029,114.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,050 shares of company stock worth $2,158,587. Insiders own 0.05% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Griffin Asset Management Inc. bought a new stake in Baxter International in the second quarter worth about $457,000. Achmea Investment Management B.V. raised its position in Baxter International by 15.3% in the second quarter. Achmea Investment Management B.V. now owns 94,282 shares of the medical instruments supplier’s stock worth $5,706,000 after acquiring an additional 12,537 shares during the period. USA Financial Portformulas Corp bought a new stake in Baxter International in the second quarter worth about $510,000. Farmers National Bank raised its position in Baxter International by 42.4% in the second quarter. Farmers National Bank now owns 8,408 shares of the medical instruments supplier’s stock worth $509,000 after acquiring an additional 2,502 shares during the period. Finally, Atlantic Trust LLC raised its position in Baxter International by 2.1% in the second quarter. Atlantic Trust LLC now owns 42,430 shares of the medical instruments supplier’s stock worth $2,609,000 after acquiring an additional 891 shares during the period. 83.71% of the stock is currently owned by institutional investors and hedge funds.
Baxter International (NYSE BAX) traded down 0.56% during trading on Friday, hitting $63.96. 4,525,594 shares of the stock were exchanged. The firm has a market cap of $34.85 billion, a PE ratio of 38.81 and a beta of 0.66. The firm’s 50-day moving average is $61.50 and its 200 day moving average is $57.69. Baxter International has a 52 week low of $43.13 and a 52 week high of $64.75.
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 analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The business’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 fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.00%. The ex-dividend date is Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is presently 38.79%.
About Baxter International
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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