Shares of Baxter International Inc. (NYSE:BAX) have been assigned a consensus recommendation of “Buy” from the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $65.42.
BAX has been the subject of several recent analyst reports. Stifel Nicolaus raised their price target on Baxter International from $58.00 to $61.00 and gave the stock a “hold” rating in a report on Wednesday, May 31st. Barclays PLC raised their price target on Baxter International from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, June 14th. Cantor Fitzgerald initiated coverage on Baxter International in a report on Thursday, June 29th. They issued an “overweight” rating and a $70.00 price target for the company. Cowen and Company reissued a “market perform” rating and issued a $66.00 price target (up previously from $57.00) on shares of Baxter International in a report on Monday, July 10th. Finally, BMO Capital Markets raised Baxter International from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $55.00 to $70.00 in a report on Tuesday, July 11th. They noted that the move was a valuation call.
In related news, Director John D. Forsyth sold 9,440 shares of Baxter International stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $61.76, for a total transaction of $583,014.40. Following the completion of the transaction, the director now directly owns 32,444 shares in the company, valued at $2,003,741.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas T. Stallkamp sold 8,920 shares of Baxter International stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $62.28, for a total value of $555,537.60. Following the transaction, the director now owns 16,263 shares of the company’s stock, valued at $1,012,859.64. The disclosure for this sale can be found here. Insiders have sold 35,050 shares of company stock valued at $2,158,587 in the last ninety days. Corporate insiders own 0.05% of the company’s stock.
A number of hedge funds have recently made changes to their positions in BAX. BlackRock Inc. raised its position in Baxter International by 1,941.1% during the first quarter. BlackRock Inc. now owns 46,937,709 shares of the medical instruments supplier’s stock valued at $2,434,190,000 after acquiring an additional 44,638,052 shares in the last quarter. Bessemer Group Inc. raised its position in Baxter International by 42,907.2% during the second quarter. Bessemer Group Inc. now owns 4,652,950 shares of the medical instruments supplier’s stock valued at $281,690,000 after acquiring an additional 4,642,131 shares in the last quarter. Renaissance Technologies LLC raised its position in Baxter International by 2,859.6% during the first quarter. Renaissance Technologies LLC now owns 1,897,115 shares of the medical instruments supplier’s stock valued at $98,384,000 after acquiring an additional 1,833,015 shares in the last quarter. Victory Capital Management Inc. raised its position in Baxter International by 438.8% during the first quarter. Victory Capital Management Inc. now owns 1,968,222 shares of the medical instruments supplier’s stock valued at $102,072,000 after acquiring an additional 1,602,894 shares in the last quarter. Finally, CI Global Investments Inc. purchased a new position in Baxter International during the first quarter valued at approximately $76,714,000. Institutional investors own 83.62% of the company’s stock.
Shares of Baxter International (BAX) traded down 0.45% during trading on Friday, reaching $64.02. The company’s stock had a trading volume of 1,825,497 shares. Baxter International has a 12-month low of $43.13 and a 12-month high of $64.75. The firm’s 50-day moving average is $61.61 and its 200-day moving average is $57.88. The stock has a market capitalization of $34.88 billion, a PE ratio of 38.85 and a beta of 0.66.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.59 billion. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. Equities analysts expect that Baxter International will post $2.39 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is 38.79%.
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.
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