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.
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.
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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.
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