Baxter International (NYSE:BAX) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, January 2nd, Marketbeat Ratings reports.
Several other research analysts have also recently issued reports on BAX. Royal Bank of Canada restated a “hold” rating and issued a $60.00 target price on shares of Baxter International in a report on Tuesday, October 3rd. Cowen set a $68.00 target price on shares of Baxter International and gave the stock a “hold” rating in a report on Sunday, October 15th. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Barclays lifted their price target on shares of Baxter International from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $65.00 price target on shares of Baxter International in a report on Thursday, October 26th. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $68.64.
Baxter International (BAX) opened at $68.34 on Tuesday. The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37. Baxter International has a fifty-two week low of $45.47 and a fifty-two week high of $69.65. The stock has a market cap of $37,299.19, a P/E ratio of 36.74, a PEG ratio of 2.06 and a beta of 0.69.
Baxter International (NYSE:BAX) last issued its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the business earned $0.56 earnings per share. The business’s revenue was up 5.8% on a year-over-year basis. research analysts forecast that Baxter International will post 2.43 EPS for the current fiscal year.
In other Baxter International news, SVP Giuseppe Accogli sold 28,641 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total transaction of $1,918,947.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Third Point Llc sold 5,000,000 shares of the firm’s stock in a transaction 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. In the last quarter, insiders sold 5,061,991 shares of company stock worth $325,245,035. 0.05% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in BAX. Neuberger Berman Group LLC lifted its position in Baxter International by 5.4% during the second quarter. Neuberger Berman Group LLC now owns 53,180 shares of the medical instruments supplier’s stock valued at $3,220,000 after buying an additional 2,739 shares during the period. Burney Co. lifted its position in Baxter International by 2.9% during the second quarter. Burney Co. now owns 8,117 shares of the medical instruments supplier’s stock valued at $488,000 after buying an additional 230 shares during the period. Atlantic Trust Group LLC lifted its position in Baxter International by 5.0% during the second quarter. Atlantic Trust Group LLC now owns 26,345 shares of the medical instruments supplier’s stock valued at $1,595,000 after buying an additional 1,256 shares during the period. Argent Trust Co purchased a new position in Baxter International during the second quarter valued at $228,000. Finally, IFM Investors Pty Ltd purchased a new position in Baxter International during the second quarter valued at $831,000. 83.78% of the stock is owned by institutional investors and hedge funds.
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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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