Baxter International (NYSE:BAX) had its price objective boosted by research analysts at Citigroup from $66.00 to $70.00 in a research report issued on Tuesday, Marketbeat.com reports. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. Citigroup’s price target indicates a potential upside of 4.99% from the company’s previous close.
Several other brokerages have also commented on BAX. Evercore ISI initiated coverage on shares of Baxter International in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $71.00 price target on the stock. Bank of America upgraded shares of Baxter International from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Raymond James Financial upgraded shares of Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research note on Wednesday, January 3rd. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Tuesday, October 10th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $65.00 price target on shares of Baxter International in a research note on Thursday, October 26th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $70.36.
Shares of Baxter International (NYSE BAX) traded up $1.15 during trading on Tuesday, reaching $66.67. 5,230,000 shares of the company’s stock traded hands, compared to its average volume of 3,090,000. The stock has a market capitalization of $36,320.00, a price-to-earnings ratio of 51.28, a P/E/G ratio of 2.00 and a beta of 0.78. Baxter International has a one year low of $48.12 and a one year high of $72.58. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.80 and a quick ratio of 2.22.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, February 1st. The medical instruments supplier reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.77 billion. Baxter International had a net margin of 6.79% and a return on equity of 15.12%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 earnings per share. sell-side analysts predict that Baxter International will post 2.78 earnings per share for the current year.
In related news, 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 transaction of $1,918,947.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the senior vice president now directly owns 124,609 shares of the company’s stock, valued at $8,130,737.25. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of BAX. Cypress Capital Group acquired a new stake in shares of Baxter International during the second quarter worth $211,000. Sterling Capital Management LLC acquired a new stake in shares of Baxter International during the second quarter worth $278,000. Piedmont Investment Advisors LLC lifted its holdings in shares of Baxter International by 22.5% during the second quarter. Piedmont Investment Advisors LLC now owns 184,491 shares of the medical instruments supplier’s stock worth $11,169,000 after purchasing an additional 33,886 shares during the period. Gofen & Glossberg LLC IL lifted its holdings in shares of Baxter International by 1.3% during the second quarter. Gofen & Glossberg LLC IL now owns 15,354 shares of the medical instruments supplier’s stock worth $930,000 after purchasing an additional 203 shares during the period. Finally, Beaton Management Co. Inc. acquired a new stake in shares of Baxter International during the second quarter worth $412,000. 83.54% of the stock is owned by hedge funds and other institutional investors.
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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.