Shares of Baxter International Inc. (NYSE:BAX) have been given a consensus recommendation of “Buy” by the fifteen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $65.45.
Several equities analysts recently issued reports on BAX shares. Morgan Stanley lifted their price target on shares of Baxter International from $48.00 to $52.00 and gave the company an “underweight” rating in a report on Friday, April 28th. Cantor Fitzgerald set a $70.00 price target on shares of Baxter International and gave the company a “buy” rating in a report on Wednesday, July 26th. BMO Capital Markets raised shares of Baxter International from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $55.00 to $70.00 in a research note on Tuesday, July 11th. They noted that the move was a valuation call. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and issued a $71.00 target price on shares of Baxter International in a research note on Tuesday, May 16th. Finally, UBS AG boosted their target price on shares of Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th.
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In other news, Director Carole J. Shapazian sold 2,618 shares of Baxter International stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total transaction of $151,634.56. Following the completion of the sale, the director now owns 9,848 shares in the company, valued at approximately $570,396.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.05% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the company. Perigon Wealth Management LLC boosted its stake 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 valued at $663,000 after buying an additional 1,102 shares in the last quarter. USA Financial Portformulas Corp purchased a new position in shares of Baxter International during the fourth quarter worth about $615,000. Teachers Advisors LLC boosted its position in shares of Baxter International by 11.0% in the fourth quarter. Teachers Advisors LLC now owns 1,350,276 shares of the medical instruments supplier’s stock worth $59,871,000 after buying an additional 133,830 shares in the last quarter. Kentucky Retirement Systems purchased a new position in shares of Baxter International during the fourth quarter worth about $1,575,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Baxter International during the fourth quarter worth about $703,000. Institutional investors own 85.08% of the company’s stock.
Baxter International (NYSE BAX) traded up 0.22% on Friday, reaching $59.84. 2,213,852 shares of the company’s stock traded hands. The stock has a market capitalization of $32.61 billion, a PE ratio of 36.31 and a beta of 0.66. Baxter International has a 52-week low of $43.13 and a 52-week high of $63.14. The firm’s 50-day moving average is $60.89 and its 200 day moving average is $55.35.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same period last year, the firm posted $0.46 EPS. The firm’s quarterly revenue was up .8% on a year-over-year basis. Analysts forecast that Baxter International will post $2.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, August 30th. Baxter International’s dividend payout ratio 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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