Baxter International Inc. (BAX) Given Consensus Recommendation of “Buy” by Analysts
Baxter International Inc. (NYSE:BAX) has received an average rating of “Buy” from the fourteen ratings firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $67.00.
Several analysts recently issued reports on the company. Stifel Nicolaus reissued a “hold” rating and set a $65.00 target price on shares of Baxter International in a research note on Thursday, October 26th. Barclays PLC lifted their target price on Baxter International from $70.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, October 26th. Morgan Stanley lifted their target price on Baxter International from $59.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, October 26th. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Tuesday, October 24th. Finally, Cowen and Company set a $68.00 target price on Baxter International and gave the company a “hold” rating in a research note on Sunday, October 15th.
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In other Baxter International news, Director Thomas T. Stallkamp sold 8,920 shares of Baxter International stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $62.28, for a total value of $555,537.60. Following the sale, the director now owns 16,263 shares of the company’s stock, valued at approximately $1,012,859.64. The transaction was disclosed in a 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 that occurred on Thursday, August 17th. The stock was sold at an average price of $60.96, for a total value 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. Corporate insiders own 0.05% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Baxter International by 1,941.1% in the 1st quarter. BlackRock Inc. now owns 46,937,709 shares of the medical instruments supplier’s stock worth $2,434,190,000 after acquiring an additional 44,638,052 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Baxter International by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 32,765,687 shares of the medical instruments supplier’s stock worth $1,699,228,000 after purchasing an additional 836,708 shares during the period. State Street Corp boosted its holdings in shares of Baxter International by 2.6% in the 1st quarter. State Street Corp now owns 25,660,985 shares of the medical instruments supplier’s stock worth $1,330,814,000 after purchasing an additional 648,581 shares during the period. Veritas Asset Management LLP boosted its holdings in shares of Baxter International by 2.3% in the 2nd quarter. Veritas Asset Management LLP now owns 10,179,102 shares of the medical instruments supplier’s stock worth $616,243,000 after purchasing an additional 227,343 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Baxter International by 12.7% in the 1st quarter. Geode Capital Management LLC now owns 4,899,789 shares of the medical instruments supplier’s stock worth $253,752,000 after purchasing an additional 553,096 shares during the period. 83.77% of the stock is currently owned by institutional investors and hedge funds.
Baxter International (BAX) opened at $64.90 on Friday. Baxter International has a 12-month low of $43.13 and a 12-month high of $65.70. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.42 and a current ratio of 3.01. The firm has a market capitalization of $35,359.59, a PE ratio of 26.82, a PEG ratio of 2.17 and a beta of 0.68.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. Baxter International had a return on equity of 15.32% and a net margin of 9.88%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the firm earned $0.56 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. sell-side analysts predict that Baxter International will post 2.43 earnings per share for the current year.
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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