Shares of Baxter International Inc (NYSE:BAX) have earned a consensus rating of “Buy” from the nineteen research firms that are currently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $70.93.
A number of research analysts have issued reports on BAX shares. Deutsche Bank upgraded Baxter International from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Tuesday, February 20th. Bank of America upgraded Baxter International from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 2nd. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research note on Monday, March 19th. ValuEngine upgraded Baxter International from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Finally, Royal Bank of Canada restated a “hold” rating and issued a $72.00 price objective on shares of Baxter International in a research note on Friday, February 2nd.
In other Baxter International news, Director Peter S. Hellman sold 3,760 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $64.74, for a total value of $243,422.40. Following the completion of the transaction, the director now owns 25,522 shares in the company, valued at approximately $1,652,294.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Carole J. Shapazian sold 4,990 shares of the firm’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $66.05, for a total value of $329,589.50. The disclosure for this sale can be found here. Insiders have sold a total of 27,500 shares of company stock valued at $1,783,512 in the last quarter. 0.05% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Colony Group LLC bought a new position in Baxter International in the 3rd quarter worth about $6,966,000. Sawyer & Company Inc bought a new position in Baxter International in the 4th quarter worth about $327,000. Maverick Capital Ltd. boosted its stake in Baxter International by 91.4% in the 4th quarter. Maverick Capital Ltd. now owns 108,210 shares of the medical instruments supplier’s stock worth $6,995,000 after purchasing an additional 51,670 shares during the period. BancorpSouth Bank bought a new position in Baxter International in the 4th quarter worth about $693,000. Finally, Schwab Charles Investment Management Inc. boosted its stake in Baxter International by 1.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,673,665 shares of the medical instruments supplier’s stock worth $172,880,000 after purchasing an additional 44,117 shares during the period. Institutional investors and hedge funds own 85.55% of the company’s stock.
Shares of NYSE:BAX opened at $63.89 on Wednesday. The firm has a market capitalization of $35,389.89, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 1.79 and a beta of 0.80. The company has a quick ratio of 2.05, a current ratio of 2.57 and a debt-to-equity ratio of 0.38. Baxter International has a 1 year low of $52.27 and a 1 year high of $72.58.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.77 billion. Baxter International had a return on equity of 15.11% and a net margin of 6.79%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. equities analysts forecast that Baxter International will post 2.78 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Stockholders of record on Friday, March 2nd were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, March 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.00%. Baxter International’s payout ratio is 25.81%.
Baxter International declared that its board has authorized a stock repurchase program on Tuesday, February 20th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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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.
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