Baxter International (BAX) Now Covered by Analysts at Barclays

Barclays began coverage on shares of Baxter International (NYSE:BAX) in a report issued on Monday morning, Marketbeat.com reports. The firm issued an underweight rating and a $73.00 price objective on the medical instruments supplier’s stock.

BAX has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their target price on Baxter International from $80.00 to $85.00 and gave the company an overweight rating in a report on Friday, July 27th. Citigroup raised their target price on Baxter International from $74.00 to $76.00 and gave the company a neutral rating in a report on Tuesday, July 31st. Morgan Stanley raised their target price on Baxter International from $68.00 to $75.00 and gave the company an underweight rating in a report on Thursday, October 11th. Zacks Investment Research lowered Baxter International from a buy rating to a hold rating in a report on Tuesday, July 24th. Finally, Royal Bank of Canada restated a hold rating and issued a $76.00 target price on shares of Baxter International in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $77.77.

Shares of NYSE:BAX opened at $70.47 on Monday. The company has a market capitalization of $41.19 billion, a price-to-earnings ratio of 29.02, a PEG ratio of 2.08 and a beta of 0.77. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.00 and a current ratio of 2.62. Baxter International has a 52-week low of $62.52 and a 52-week high of $78.38.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, July 26th. The medical instruments supplier reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.06. Baxter International had a return on equity of 16.63% and a net margin of 8.29%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the company earned $0.63 earnings per share. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts anticipate that Baxter International will post 2.98 earnings per share for the current year.

In related news, Director Carole J. Shapazian sold 5,400 shares of the stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $72.97, for a total transaction of $394,038.00. Following the completion of the sale, the director now directly owns 15,248 shares of the company’s stock, valued at $1,112,646.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Giuseppe Accogli sold 17,647 shares of the stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.27, for a total value of $1,363,583.69. Following the sale, the senior vice president now directly owns 59,452 shares of the company’s stock, valued at $4,593,856.04. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Huntington National Bank increased its position in shares of Baxter International by 5.5% during the third quarter. Huntington National Bank now owns 453,618 shares of the medical instruments supplier’s stock valued at $34,970,000 after acquiring an additional 23,469 shares during the last quarter. Aperio Group LLC increased its position in shares of Baxter International by 0.5% during the third quarter. Aperio Group LLC now owns 812,986 shares of the medical instruments supplier’s stock valued at $62,673,000 after acquiring an additional 4,260 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Baxter International by 22.3% during the third quarter. Nisa Investment Advisors LLC now owns 226,570 shares of the medical instruments supplier’s stock valued at $17,466,000 after acquiring an additional 41,271 shares during the last quarter. Andra AP fonden increased its position in shares of Baxter International by 34.9% during the third quarter. Andra AP fonden now owns 119,500 shares of the medical instruments supplier’s stock valued at $9,212,000 after acquiring an additional 30,900 shares during the last quarter. Finally, First Hawaiian Bank purchased a new stake in shares of Baxter International during the third quarter valued at approximately $1,639,000. 83.08% of the stock is owned by institutional investors.

About Baxter International

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

Featured Article: Average Daily Trade Volume – What It Means In Stock Trading

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.

Leave a Reply