Baxter International (NYSE:BAX) had its price target lifted by investment analysts at BMO Capital Markets from $74.00 to $77.00 in a report released on Friday. The firm presently has an “outperform” rating on the medical instruments supplier’s stock. BMO Capital Markets’ price objective suggests a potential upside of 12.33% from the company’s current price.
Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Cowen set a $68.00 price objective on Baxter International and gave the stock a “hold” rating in a research note on Sunday, October 15th. JPMorgan Chase & Co. upgraded Baxter International from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 2nd. Royal Bank of Canada restated a “hold” rating and issued a $66.00 price objective on shares of Baxter International in a research note on Wednesday, November 22nd. Finally, Raymond James Financial upgraded Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 price objective for the company in a research note on Wednesday, January 3rd. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $69.86.
Shares of Baxter International (BAX) traded down $1.40 on Friday, reaching $68.55. 4,099,999 shares of the company’s stock were exchanged, compared to its average volume of 2,940,000. The stock has a market cap of $37,350.00, a price-to-earnings 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 has a 1-year low of $47.92 and a 1-year high of $72.58.
In other Baxter International news, SVP Jeanne K. Mason sold 33,350 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $65.25, for a total value of $2,176,087.50. Following the completion of the sale, the senior vice president now owns 124,609 shares in the company, valued at approximately $8,130,737.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Giuseppe Accogli sold 28,641 shares of the stock in a transaction 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. Insiders sold a total of 5,061,991 shares of company stock valued at $325,245,035 in the last quarter. 0.05% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in Baxter International by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,978,139 shares of the medical instruments supplier’s stock worth $312,378,000 after buying an additional 16,523 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Baxter International by 1.4% during the 3rd quarter. Bessemer Group Inc. now owns 4,717,899 shares of the medical instruments supplier’s stock valued at $296,048,000 after purchasing an additional 64,949 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Baxter International by 1.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,673,665 shares of the medical instruments supplier’s stock valued at $172,880,000 after purchasing an additional 44,117 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Baxter International by 6.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,525,870 shares of the medical instruments supplier’s stock valued at $163,305,000 after purchasing an additional 142,209 shares during the last quarter. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Baxter International by 4.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,666,746 shares of the medical instruments supplier’s stock valued at $104,588,000 after purchasing an additional 73,771 shares during the last quarter. Institutional investors and hedge funds own 83.81% 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.
