Baxter International Inc. (BAX) Receives Average Recommendation of “Buy” from Brokerages
Shares of Baxter International Inc. (NYSE:BAX) have been assigned a consensus recommendation of “Buy” from the fifteen research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $65.69.
A number of research analysts recently issued reports on BAX shares. Royal Bank Of Canada reiterated a “hold” rating and issued a $60.00 price target on shares of Baxter International in a research note on Friday, September 1st. UBS AG lifted their price target on shares of Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Barclays PLC lifted their price target on shares of Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. BidaskClub downgraded shares of Baxter International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Cowen and Company reissued a “market perform” rating and set a $66.00 price objective (up previously from $57.00) on shares of Baxter International in a report on Monday, July 10th.
Baxter International (NYSE BAX) traded up 0.41% during trading on Wednesday, hitting $61.96. 164,542 shares of the company were exchanged. The stock’s 50-day moving average is $62.78 and its 200-day moving average is $59.18. Baxter International has a 12 month low of $43.13 and a 12 month high of $64.75. The company has a market capitalization of $33.76 billion, a price-to-earnings ratio of 35.82 and a beta of 0.65.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the firm posted $0.46 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts anticipate that Baxter International will post $2.39 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.04%. Baxter International’s payout ratio is 38.79%.
In related news, Director Thomas T. Stallkamp sold 8,920 shares of Baxter International stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $62.28, for a total value of $555,537.60. Following the transaction, the director now directly owns 16,263 shares in the company, valued at approximately $1,012,859.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Giuseppe Accogli sold 12,670 shares of Baxter International stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $60.96, for a total transaction of $772,363.20. Following the completion of the transaction, the senior vice president now owns 33,286 shares in the company, valued at $2,029,114.56. The disclosure for this sale can be found here. Insiders sold a total of 35,050 shares of company stock worth $2,158,587 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Park National Corp OH grew its position in Baxter International by 18.9% in the 3rd quarter. Park National Corp OH now owns 10,969 shares of the medical instruments supplier’s stock valued at $688,000 after buying an additional 1,746 shares during the last quarter. Griffin Asset Management Inc. purchased a new stake in shares of Baxter International during the 2nd quarter worth $457,000. Achmea Investment Management B.V. boosted its position in shares of Baxter International by 15.3% during the 2nd quarter. Achmea Investment Management B.V. now owns 94,282 shares of the medical instruments supplier’s stock worth $5,706,000 after purchasing an additional 12,537 shares in the last quarter. USA Financial Portformulas Corp purchased a new stake in shares of Baxter International during the 2nd quarter worth $510,000. Finally, Farmers National Bank boosted its position in shares of Baxter International by 42.4% during the 2nd quarter. Farmers National Bank now owns 8,408 shares of the medical instruments supplier’s stock worth $509,000 after purchasing an additional 2,502 shares in the last quarter. Hedge funds and other institutional investors own 83.62% of the company’s stock.
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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