Raymond James Financial upgraded shares of Baxter International (NYSE:BAX) from a market perform rating to an outperform rating in a report issued on Wednesday, January 3rd, Marketbeat.com reports. They currently have $73.00 target price on the medical instruments supplier’s stock.
Several other equities analysts have also issued reports on the company. Evercore ISI started coverage on Baxter International in a research note on Wednesday, January 3rd. They set an outperform rating and a $71.00 target price on the stock. Bank of America upgraded Baxter International from a neutral rating to a buy rating in a report on Tuesday, January 2nd. Royal Bank of Canada restated a hold rating and set a $60.00 price target on shares of Baxter International in a report on Tuesday, October 3rd. Cowen set a $68.00 price target on Baxter International and gave the stock a hold rating in a report on Sunday, October 15th. Finally, Zacks Investment Research downgraded Baxter International from a buy rating to a hold rating in a report on Monday, October 16th. 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 stock. The stock has an average rating of Buy and a consensus target price of $68.64.
Shares of Baxter International (NYSE:BAX) traded up $0.03 on Wednesday, hitting $68.46. The company had a trading volume of 2,104,600 shares, compared to its average volume of 3,209,413. The stock has a market capitalization of $37,220.00, a PE ratio of 37.01, a price-to-earnings-growth ratio of 2.08 and a beta of 0.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.80 and a quick ratio of 2.22. Baxter International has a 52-week low of $45.47 and a 52-week high of $69.65.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. sell-side analysts predict that Baxter International will post 2.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were issued a $0.16 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 0.93%. Baxter International’s dividend payout ratio is currently 34.59%.
In related news, SVP Jeanne K. Mason sold 33,350 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $65.25, for a total value of $2,176,087.50. Following the completion of the transaction, the senior vice president now directly owns 124,609 shares of the company’s stock, valued at approximately $8,130,737.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Third Point Llc sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $64.23, for a total value of $321,150,000.00. The disclosure for this sale can be found here. Insiders sold a total of 5,061,991 shares of company stock valued at $325,245,035 over the last three months. Insiders own 0.05% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BAX. Gofen & Glossberg LLC IL grew its position in shares of Baxter International by 1.3% in the second quarter. Gofen & Glossberg LLC IL now owns 15,354 shares of the medical instruments supplier’s stock valued at $930,000 after purchasing an additional 203 shares during the period. KCM Investment Advisors LLC grew its position in shares of Baxter International by 2.9% in the second quarter. KCM Investment Advisors LLC now owns 7,625 shares of the medical instruments supplier’s stock valued at $462,000 after purchasing an additional 214 shares during the period. Harvest Fund Management Co. Ltd grew its position in shares of Baxter International by 8.4% in the second quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock valued at $177,000 after purchasing an additional 226 shares during the period. Thrivent Financial For Lutherans grew its position in shares of Baxter International by 3.0% in the second quarter. Thrivent Financial For Lutherans now owns 18,651 shares of the medical instruments supplier’s stock valued at $1,129,000 after purchasing an additional 540 shares during the period. Finally, Clear Perspective Advisors LLC grew its position in shares of Baxter International by 13.1% in the second quarter. Clear Perspective Advisors LLC now owns 4,823 shares of the medical instruments supplier’s stock valued at $292,000 after purchasing an additional 558 shares during the period. 83.78% of the stock is owned by 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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