Baxter International (BAX) Upgraded at Deutsche Bank

Deutsche Bank upgraded shares of Baxter International (NYSE:BAX) from a hold rating to a buy rating in a report released on Tuesday morning. They currently have $80.00 price objective on the medical instruments supplier’s stock.

Other analysts also recently issued research reports about the stock. Bank of America upgraded shares of Baxter International from a neutral rating to a buy rating in a research report on Tuesday, January 2nd. Zacks Investment Research upgraded shares of Baxter International from a hold rating to a buy rating and set a $72.00 price objective for the company in a research report on Tuesday, October 24th. Morgan Stanley boosted their price objective on shares of Baxter International from $59.00 to $62.00 and gave the stock an equal weight rating in a research report on Thursday, October 26th. Stifel Nicolaus reiterated a hold rating and issued a $65.00 price target on shares of Baxter International in a research report on Thursday, October 26th. Finally, Royal Bank of Canada reiterated a hold rating and issued a $66.00 price target on shares of Baxter International in a research report on Wednesday, November 22nd. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $71.00.

Shares of Baxter International (NYSE BAX) opened at $67.04 on Tuesday. The firm has a market cap of $36,530.00, a P/E ratio of 51.57, a PEG ratio of 1.91 and a beta of 0.78. The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37. Baxter International has a 12-month low of $49.59 and a 12-month high of $72.58.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.77 billion. Baxter International had a net margin of 6.79% and a return on equity of 15.12%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 EPS. research analysts expect that Baxter International will post 2.78 earnings per share for the current fiscal year.

In other Baxter International news, SVP Jeanne K. Mason sold 33,350 shares of the business’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $65.25, for a total value of $2,176,087.50. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Giuseppe Accogli sold 28,641 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total transaction of $1,918,947.00. The disclosure for this sale can be found here. 0.05% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in Baxter International by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 5,812,690 shares of the medical instruments supplier’s stock valued at $375,011,000 after buying an additional 247,337 shares during the period. Bank of New York Mellon Corp increased its stake in Baxter International by 0.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,978,139 shares of the medical instruments supplier’s stock valued at $312,378,000 after buying an additional 16,523 shares during the period. Bessemer Group Inc. increased its stake in Baxter International by 1.4% in the 3rd quarter. Bessemer Group Inc. now owns 4,717,899 shares of the medical instruments supplier’s stock valued at $296,048,000 after buying an additional 64,949 shares during the period. Two Sigma Advisers LP increased its stake in Baxter International by 6.8% in the 4th quarter. Two Sigma Advisers LP now owns 3,695,958 shares of the medical instruments supplier’s stock valued at $238,907,000 after buying an additional 236,000 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in Baxter International by 0.5% in the 4th quarter. TIAA CREF Investment Management LLC now owns 3,654,214 shares of the medical instruments supplier’s stock valued at $236,208,000 after buying an additional 19,093 shares during the period. 84.96% of the stock is currently owned by institutional investors.

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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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