Baxter International Inc. (BAX) Given “Buy” Rating at BMO Capital Markets
Baxter International Inc. (NYSE:BAX)‘s stock had its “buy” rating restated by equities research analysts at BMO Capital Markets in a report released on Friday. They currently have a $70.00 price objective on the medical instruments supplier’s stock. BMO Capital Markets’ target price points to a potential upside of 11.95% from the company’s previous close.
A number of other analysts have also issued reports on BAX. Cantor Fitzgerald initiated coverage on Baxter International in a research note on Thursday, June 29th. They set an “overweight” rating and a $70.00 price objective on the stock. Cowen and Company reiterated a “market perform” rating and set a $66.00 price objective (up from $57.00) on shares of Baxter International in a research note on Monday, July 10th. Morgan Stanley reiterated an “underweight” rating and set a $55.00 price objective (up from $52.00) on shares of Baxter International in a research note on Tuesday, July 25th. Barclays PLC boosted their price objective on Baxter International from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Finally, Leerink Swann reiterated an “outperform” rating and set a $75.00 price objective (up from $67.00) on shares of Baxter International in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $65.69.
Baxter International (NYSE BAX) opened at 62.53 on Friday. Baxter International has a 12 month low of $43.13 and a 12 month high of $64.75. The company has a 50 day moving average price of $62.81 and a 200-day moving average price of $59.23. The company has a market cap of $34.07 billion, a PE ratio of 37.94 and a beta of 0.65.
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 analysts’ consensus estimates of $0.57 by $0.06. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period in the previous year, the company posted $0.46 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts predict that Baxter International will post $2.39 earnings per share for the current fiscal year.
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In other Baxter International news, SVP Giuseppe Accogli sold 12,670 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $60.96, for a total value of $772,363.20. Following the transaction, the senior vice president now directly owns 33,286 shares in the company, valued at approximately $2,029,114.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John D. Forsyth sold 9,440 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $61.76, for a total value of $583,014.40. Following the completion of the transaction, the director now owns 32,444 shares in the company, valued at $2,003,741.44. 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 90 days. Corporate insiders own 0.05% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Park National Corp OH increased its stake 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 worth $688,000 after acquiring an additional 1,746 shares during the last quarter. Griffin Asset Management Inc. bought a new position in Baxter International in the 2nd quarter worth about $457,000. Achmea Investment Management B.V. increased its stake in Baxter International by 15.3% in 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 acquiring an additional 12,537 shares during the last quarter. USA Financial Portformulas Corp bought a new position in Baxter International in the 2nd quarter worth about $510,000. Finally, Farmers National Bank increased its stake in Baxter International by 42.4% in the 2nd 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 last quarter. Institutional investors and hedge funds 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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