Baxter International (BAX) Upgraded to “Outperform” by Raymond James Financial

Raymond James Financial upgraded shares of Baxter International (NYSE:BAX) from a market perform rating to an outperform rating in a research report report published on Wednesday. They currently have $73.00 price target on the medical instruments supplier’s stock.

Several other research firms have also recently weighed in on BAX. Evercore ISI initiated coverage on shares of Baxter International in a research report on Wednesday. They issued an outperform rating and a $71.00 price objective for the company. Bank of America upgraded shares of Baxter International from a neutral rating to a buy rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Baxter International from a hold rating to a buy rating and set a $69.00 price objective for the company in a research report on Tuesday, October 10th. Stifel Nicolaus restated a hold rating and issued a $65.00 price objective on shares of Baxter International in a research report on Thursday, October 26th. Finally, Barclays boosted their price objective on shares of Baxter International from $70.00 to $73.00 and gave the stock an overweight rating in a research report on Thursday, October 26th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $68.64.

Baxter International (BAX) traded up $0.43 during trading hours on Wednesday, hitting $68.85. 922,767 shares of the stock were exchanged, compared to its average volume of 2,850,000. Baxter International has a 52 week low of $44.56 and a 52 week high of $68.87. The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $37,510.00, a PE ratio of 37.22, a P/E/G ratio of 2.05 and a beta of 0.69.

Baxter International (NYSE:BAX) last posted its earnings results on Wednesday, October 25th. 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 net margin of 9.88% and a return on equity of 15.00%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. Baxter International’s quarterly revenue was up 5.8% compared to the same quarter last year. analysts anticipate that Baxter International will post 2.43 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 1st were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Thursday, November 30th. Baxter International’s dividend payout ratio is presently 34.59%.

In other Baxter International news, SVP Giuseppe Accogli sold 28,641 shares of Baxter International stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total transaction of $1,918,947.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeanne K. Mason sold 33,350 shares of Baxter International stock in a transaction on Monday, December 4th. The stock was sold at an average price of $65.25, for a total transaction 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 approximately $8,130,737.25. The disclosure for this sale can be found here. Insiders have sold a total of 5,061,991 shares of company stock valued at $325,245,035 in the last ninety days. Company insiders own 0.05% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stillwater Investment Management LLC grew its holdings in Baxter International by 271.9% during the 4th quarter. Stillwater Investment Management LLC now owns 75,133 shares of the medical instruments supplier’s stock worth $3,816,000 after acquiring an additional 54,928 shares during the period. Atlantic Trust Group LLC grew its holdings in shares of Baxter International by 120.6% in the 3rd quarter. Atlantic Trust Group LLC now owns 58,108 shares of the medical instruments supplier’s stock valued at $3,645,000 after buying an additional 31,763 shares during the period. AustralianSuper Pty Ltd acquired a new position in shares of Baxter International in the 3rd quarter valued at $9,871,000. Parametric Portfolio Associates LLC grew its holdings in shares of Baxter International by 4.6% in 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 buying an additional 73,771 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of Baxter International in the 3rd quarter valued at $175,000. 83.78% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: This story was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.chaffeybreeze.com/2018/01/05/baxter-international-bax-upgraded-to-outperform-by-raymond-james-financial.html.

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.

Analyst Recommendations for Baxter International (NYSE:BAX)

Receive News & Ratings for Baxter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply