BMO Capital Markets Reiterates “Buy” Rating for Baxter International Inc. (BAX)

BMO Capital Markets reissued their buy rating on shares of Baxter International Inc. (NYSE:BAX) in a research report report published on Friday morning. The firm currently has a $70.00 price objective on the medical instruments supplier’s stock.

Several other research firms also recently issued reports on BAX. Royal Bank Of Canada reaffirmed a hold rating and set a $60.00 price target on shares of Baxter International in a research note on Tuesday, October 3rd. Morgan Stanley reaffirmed an underweight rating and set a $55.00 price target (up previously from $52.00) on shares of Baxter International in a research note on Tuesday, July 25th. Zacks Investment Research raised Baxter International from a hold rating to a buy rating and set a $69.00 price target for the company in a research note on Tuesday, October 10th. Citigroup Inc. assumed coverage on Baxter International in a research note on Thursday, August 17th. They set a neutral rating and a $63.00 price target for the company. Finally, Barclays PLC lifted their price target on Baxter International from $64.00 to $70.00 and gave the stock an overweight rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $65.69.

Shares of Baxter International (BAX) opened at 63.65 on Friday. The stock has a 50 day moving average of $62.89 and a 200-day moving average of $59.41. The firm has a market capitalization of $34.68 billion, a PE ratio of 38.62 and a beta of 0.65. Baxter International has a 12 month low of $43.13 and a 12 month high of $64.75.

Baxter International (NYSE:BAX) last issued its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. On average, equities research analysts anticipate that Baxter International will post $2.39 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://ledgergazette.com/2017/10/17/bmo-capital-markets-reiterates-buy-rating-for-baxter-international-inc-bax.html.

In related news, SVP Giuseppe Accogli sold 12,670 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $60.96, for a total value of $772,363.20. Following the completion of the transaction, the senior vice president now owns 33,286 shares of the company’s stock, valued at approximately $2,029,114.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John D. Forsyth sold 9,440 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were 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 of the company’s stock, valued at approximately $2,003,741.44. The disclosure for this sale can be found here. Insiders sold a total of 35,050 shares of company stock valued at $2,158,587 in the last three months. 0.05% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in BAX. Clifford Swan Investment Counsel LLC raised its stake in Baxter International by 0.4% in the 1st quarter. Clifford Swan Investment Counsel LLC now owns 15,204 shares of the medical instruments supplier’s stock valued at $788,000 after purchasing an additional 67 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Baxter International by 3.9% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock valued at $144,000 after purchasing an additional 103 shares during the last quarter. Martingale Asset Management L P raised its stake in Baxter International by 2.2% in the 1st quarter. Martingale Asset Management L P now owns 353,354 shares of the medical instruments supplier’s stock valued at $18,326,000 after purchasing an additional 7,758 shares during the last quarter. 1st Global Advisors Inc. raised its stake in Baxter International by 10.1% in the 1st quarter. 1st Global Advisors Inc. now owns 15,529 shares of the medical instruments supplier’s stock valued at $805,000 after purchasing an additional 1,430 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Baxter International by 34.2% in the 1st quarter. Raymond James Financial Services

Several other research firms also recently issued reports on BAX. Royal Bank Of Canada reaffirmed a hold rating and set a $60.00 price target on shares of Baxter International in a research note on Tuesday, October 3rd. Morgan Stanley reaffirmed an underweight rating and set a $55.00 price target (up previously from $52.00) on shares of Baxter International in a research note on Tuesday, July 25th. Zacks Investment Research raised Baxter International from a hold rating to a buy rating and set a $69.00 price target for the company in a research note on Tuesday, October 10th. Citigroup Inc. assumed coverage on Baxter International in a research note on Thursday, August 17th. They set a neutral rating and a $63.00 price target for the company. Finally, Barclays PLC lifted their price target on Baxter International from $64.00 to $70.00 and gave the stock an overweight rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $65.69.

Shares of Baxter International (BAX) opened at 63.65 on Friday. The stock has a 50 day moving average of $62.89 and a 200-day moving average of $59.41. The firm has a market capitalization of $34.68 billion, a PE ratio of 38.62 and a beta of 0.65. Baxter International has a 12 month low of $43.13 and a 12 month high of $64.75.

Baxter International (NYSE:BAX) last issued its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The business’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. On average, equities research analysts anticipate that Baxter International will post $2.39 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another publication, it was stolen and reposted in violation of U.S. & international copyright laws. The correct version of this report can be read at https://ledgergazette.com/2017/10/17/bmo-capital-markets-reiterates-buy-rating-for-baxter-international-inc-bax.html.

In related news, SVP Giuseppe Accogli sold 12,670 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $60.96, for a total value of $772,363.20. Following the completion of the transaction, the senior vice president now owns 33,286 shares of the company’s stock, valued at approximately $2,029,114.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John D. Forsyth sold 9,440 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were 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 of the company’s stock, valued at approximately $2,003,741.44. The disclosure for this sale can be found here. Insiders sold a total of 35,050 shares of company stock valued at $2,158,587 in the last three months. 0.05% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in BAX. Clifford Swan Investment Counsel LLC raised its stake in Baxter International by 0.4% in the 1st quarter. Clifford Swan Investment Counsel LLC now owns 15,204 shares of the medical instruments supplier’s stock valued at $788,000 after purchasing an additional 67 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Baxter International by 3.9% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock valued at $144,000 after purchasing an additional 103 shares during the last quarter. Martingale Asset Management L P raised its stake in Baxter International by 2.2% in the 1st quarter. Martingale Asset Management L P now owns 353,354 shares of the medical instruments supplier’s stock valued at $18,326,000 after purchasing an additional 7,758 shares during the last quarter. 1st Global Advisors Inc. raised its stake in Baxter International by 10.1% in the 1st quarter. 1st Global Advisors Inc. now owns 15,529 shares of the medical instruments supplier’s stock valued at $805,000 after purchasing an additional 1,430 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Baxter International by 34.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 90,975 shares of the medical instruments supplier’s stock valued at $4,718,000 after purchasing an additional 23,184 shares during the last quarter. 83.60% of the stock is owned by hedge funds and other institutional investors.

About Baxter International

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)

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