Barclays Boosts Baxter International (BAX) Price Target to $77.00

Baxter International (NYSE:BAX) had its price objective upped by research analysts at Barclays from $73.00 to $77.00 in a report issued on Friday. The firm currently has an “overweight” rating on the medical instruments supplier’s stock. Barclays’ target price would indicate a potential upside of 12.33% from the company’s previous close.

BAX has been the topic of several other reports. Evercore ISI initiated coverage on Baxter International in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $71.00 price objective on the stock. Bank of America raised Baxter International from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Raymond James Financial raised Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 price objective on the stock in a research report on Wednesday, January 3rd. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Tuesday, October 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $65.00 price objective on shares of Baxter International in a research report on Thursday, October 26th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $69.86.

Shares of Baxter International (BAX) traded down $1.40 during trading hours on Friday, reaching $68.55. The company had a trading volume of 4,099,999 shares, compared to its average volume of 2,940,000. Baxter International has a 52 week low of $47.92 and a 52 week high of $72.58. The stock has a market cap of $37,350.00, a P/E ratio of 52.73, a PEG ratio of 2.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.22 and a current ratio of 2.80.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the business earned $0.57 EPS. Baxter International’s revenue was up 4.9% compared to the same quarter last year. equities research analysts anticipate that Baxter International will post 2.43 earnings per share for the current fiscal year.

In other news, Director Third Point Llc sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $64.23, for a total value of $321,150,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Giuseppe Accogli sold 28,641 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total value of $1,918,947.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,061,991 shares of company stock worth $325,245,035. Insiders own 0.05% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of BAX. Family Capital Trust Co bought a new stake in shares of Baxter International in the 4th quarter worth approximately $103,000. Grove Bank & Trust boosted its position in shares of Baxter International by 526.0% in the 3rd quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock worth $143,000 after purchasing an additional 1,920 shares in the last quarter. Cerebellum GP LLC bought a new stake in shares of Baxter International in the 4th quarter worth approximately $173,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Baxter International in the 3rd quarter worth approximately $175,000. Finally, Hutner Capital Management Inc. bought a new stake in shares of Baxter International in the 3rd quarter worth approximately $203,000. 83.81% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Baxter International (NYSE:BAX)

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