Baxter International Inc (BAX) Receives $70.93 Average PT from Analysts

Baxter International Inc (NYSE:BAX) has been given an average recommendation of “Buy” by the nineteen analysts that are currently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $70.93.

BAX has been the subject of several recent research reports. Evercore ISI initiated coverage on shares of Baxter International in a report on Wednesday, January 3rd. They set an “outperform” rating and a $71.00 target price for the company. Bank of America upgraded shares of Baxter International from a “neutral” rating to a “buy” rating in a report on Tuesday, January 2nd. Raymond James Financial upgraded shares of Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 target price for the company in a report on Wednesday, January 3rd. Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, JPMorgan Chase & Co. upgraded shares of Baxter International from a “neutral” rating to an “overweight” rating in a report on Tuesday, January 2nd.

How to Become a New Pot Stock Millionaire

In other Baxter International news, Director Carole J. Shapazian sold 4,990 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $66.05, for a total transaction of $329,589.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Giuseppe Accogli sold 28,641 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was 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 company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAX. Winslow Capital Management LLC acquired a new stake in shares of Baxter International in the fourth quarter worth approximately $178,651,000. HealthCor Management L.P. acquired a new stake in shares of Baxter International in the fourth quarter worth approximately $111,504,000. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Baxter International in the fourth quarter worth approximately $74,517,000. Renaissance Technologies LLC boosted its position in shares of Baxter International by 217.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,486,913 shares of the medical instruments supplier’s stock worth $96,114,000 after acquiring an additional 1,018,800 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its position in shares of Baxter International by 18.1% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 3,098,384 shares of the medical instruments supplier’s stock worth $200,279,000 after acquiring an additional 474,520 shares during the last quarter. 85.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of Baxter International (BAX) traded up $0.31 on Friday, hitting $67.59. 2,110,310 shares of the stock were exchanged, compared to its average volume of 3,310,137. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.57 and a quick ratio of 2.05. The stock has a market cap of $36,510.00, a P/E ratio of 28.40, a PEG ratio of 1.96 and a beta of 0.81. Baxter International has a 1-year low of $51.03 and a 1-year high of $72.58.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 6.79% and a return on equity of 15.11%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.77 billion. During the same period last year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. equities analysts forecast that Baxter International will post 2.78 EPS for the current fiscal year.

Baxter International announced that its board has initiated a stock buyback program on Tuesday, February 20th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the medical instruments supplier to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 2nd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.64 annualized dividend and a dividend yield of 0.95%. Baxter International’s dividend payout ratio is currently 26.89%.

COPYRIGHT VIOLATION WARNING: “Baxter International Inc (BAX) Receives $70.93 Average PT from Analysts” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another publication, it was copied illegally and republished in violation of international trademark and copyright law. The original version of this article can be read at https://www.dispatchtribunal.com/2018/04/07/baxter-international-inc-bax-receives-70-93-average-pt-from-analysts.html.

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.

Analyst Recommendations for Baxter International (NYSE:BAX)

Receive News & Ratings for Baxter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply