Baxter International Inc. (NYSE:BAX) has been given a consensus recommendation of “Buy” by the fourteen ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $65.33.
Several research analysts have issued reports on BAX shares. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “strong-buy” rating and set a $64.00 price target for the company in a report on Monday, May 1st. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and set a $71.00 price target on shares of Baxter International in a report on Tuesday, May 16th. Morgan Stanley raised their price target on shares of Baxter International from $48.00 to $52.00 and gave the stock an “underweight” rating in a report on Friday, April 28th. Leerink Swann raised shares of Baxter International from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $54.00 to $64.00 in a research report on Tuesday, April 4th. Finally, Evercore ISI reissued an “outperform” rating and issued a $60.00 price target (up previously from $57.00) on shares of Baxter International in a research report on Saturday, April 29th.
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Shares of Baxter International (NYSE BAX) traded up 0.58% during midday trading on Monday, hitting $60.73. 2,054,427 shares of the stock were exchanged. The firm has a market cap of $33.02 billion, a P/E ratio of 17.97 and a beta of 0.66. Baxter International has a 12-month low of $43.13 and a 12-month high of $63.08. The stock’s 50 day moving average is $60.57 and its 200 day moving average is $54.45.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a net margin of 8.85% and a return on equity of 14.11%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business earned $0.46 EPS. On average, equities research analysts forecast that Baxter International will post $2.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s payout ratio is 38.79%.
In other Baxter International news, SVP Brik V. Eyre sold 130,732 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $55.69, for a total value of $7,280,465.08. Following the completion of the sale, the senior vice president now owns 49,966 shares of the company’s stock, valued at $2,782,606.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carole J. Shapazian sold 3,760 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $55.89, for a total value of $210,146.40. Following the completion of the sale, the director now owns 16,226 shares of the company’s stock, valued at approximately $906,871.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,110 shares of company stock valued at $7,642,246. 0.05% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in BAX. Thrivent Financial for Lutherans increased its position in shares of Baxter International by 6.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,301 shares of the medical instruments supplier’s stock worth $768,000 after buying an additional 1,010 shares in the last quarter. Aristotle Capital Management LLC increased its position in shares of Baxter International by 2.5% in the fourth quarter. Aristotle Capital Management LLC now owns 6,778,557 shares of the medical instruments supplier’s stock worth $300,562,000 after buying an additional 166,033 shares in the last quarter. Israel Discount Bank of New York GFN acquired a new position in shares of Baxter International during the fourth quarter worth approximately $395,000. Perigon Wealth Management LLC increased its position in shares of Baxter International by 9.2% in the fourth quarter. Perigon Wealth Management LLC now owns 13,022 shares of the medical instruments supplier’s stock worth $663,000 after buying an additional 1,102 shares in the last quarter. Finally, USA Financial Portformulas Corp purchased a new stake in shares of Baxter International during the fourth quarter valued at $615,000. Institutional investors own 84.13% of the company’s stock.
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.
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