Baxter International (NYSE:BAX) was upgraded by equities research analysts at Raymond James Financial from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday.
Several other research firms have also issued reports on BAX. Evercore ISI began coverage on Baxter International in a research note on Wednesday. They set an “outperform” rating and a $71.00 price objective for the company. Stifel Nicolaus reissued a “hold” rating and set a $65.00 price objective on shares of Baxter International in a research note on Thursday, October 26th. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. JPMorgan Chase & Co. raised Baxter International from a “neutral” rating to an “overweight” rating in a research note on Tuesday. Finally, Bank of America raised Baxter International from a “neutral” rating to a “buy” rating in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $68.31.
Baxter International (NYSE BAX) opened at $67.17 on Wednesday. Baxter International has a twelve month low of $44.06 and a twelve month high of $68.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.80 and a quick ratio of 2.22. The company has a market capitalization of $36,600.00, a price-to-earnings ratio of 36.31, a PEG ratio of 1.94 and a beta of 0.69.
In other Baxter International news, SVP Jeanne K. Mason sold 33,350 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $65.25, for a total transaction of $2,176,087.50. Following the sale, the senior vice president now owns 124,609 shares in the company, valued at $8,130,737.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Third Point Llc sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $64.23, for a total value of $321,150,000.00. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BAX. Neuberger Berman Group LLC increased its holdings in shares of Baxter International by 5.4% in the second quarter. Neuberger Berman Group LLC now owns 53,180 shares of the medical instruments supplier’s stock worth $3,220,000 after buying an additional 2,739 shares during the period. Atlantic Trust Group LLC increased its holdings in shares of Baxter International by 5.0% in the second quarter. Atlantic Trust Group LLC now owns 26,345 shares of the medical instruments supplier’s stock worth $1,595,000 after buying an additional 1,256 shares during the period. Argent Trust Co purchased a new position in shares of Baxter International in the second quarter worth about $228,000. IFM Investors Pty Ltd purchased a new position in shares of Baxter International in the second quarter worth about $831,000. Finally, Tredje AP fonden increased its holdings in shares of Baxter International by 35.2% in the second quarter. Tredje AP fonden now owns 138,876 shares of the medical instruments supplier’s stock worth $8,429,000 after buying an additional 36,170 shares during the period. Hedge funds and other institutional investors own 83.78% of the company’s stock.
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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.
