Leerink Swann Cuts Baxter International (BAX) Price Target to $77.00

Baxter International (NYSE:BAX) had its price target decreased by Leerink Swann from $90.00 to $77.00 in a research report report published on Thursday morning, The Fly reports. Leerink Swann currently has an outperform rating on the medical instruments supplier’s stock. Leerink Swann also issued estimates for Baxter International’s Q4 2018 earnings at $0.73 EPS, Q1 2019 earnings at $0.74 EPS, Q3 2019 earnings at $0.88 EPS, Q4 2019 earnings at $0.83 EPS, FY2020 earnings at $3.65 EPS, FY2021 earnings at $4.05 EPS and FY2022 earnings at $4.45 EPS.

A number of other equities analysts have also commented on BAX. Citigroup lifted their price objective on Baxter International from $74.00 to $76.00 and gave the stock a neutral rating in a research note on Tuesday, July 31st. Royal Bank of Canada reiterated a hold rating and issued a $76.00 price objective on shares of Baxter International in a research note on Friday, July 27th. Wells Fargo & Co dropped their price objective on Baxter International from $82.00 to $72.00 and set an outperform rating on the stock in a research note on Thursday. Raymond James dropped their price objective on Baxter International from $80.00 to $74.00 and set an outperform rating on the stock in a research note on Thursday. Finally, ValuEngine lowered Baxter International from a buy rating to a hold rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $76.19.

NYSE BAX traded down $0.89 during trading on Thursday, hitting $62.18. 4,036,961 shares of the company traded hands, compared to its average volume of 4,188,330. Baxter International has a 12 month low of $61.05 and a 12 month high of $78.38. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.62 and a quick ratio of 2.00. The firm has a market cap of $33.22 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02.

Baxter International (NYSE:BAX) last posted its earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.06. Baxter International had a return on equity of 17.72% and a net margin of 10.90%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.79 billion. During the same period last year, the company earned $0.64 earnings per share. The business’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts expect that Baxter International will post 2.99 EPS for the current year.

In related news, SVP Giuseppe Accogli sold 17,647 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $77.27, for a total transaction of $1,363,583.69. Following the transaction, the senior vice president now directly owns 59,452 shares in the company, valued at $4,593,856.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carole J. Shapazian sold 5,400 shares of the business’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $72.97, for a total value of $394,038.00. Following the transaction, the director now owns 15,248 shares in the company, valued at $1,112,646.56. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Natixis increased its stake in Baxter International by 62.5% during the second quarter. Natixis now owns 716,411 shares of the medical instruments supplier’s stock valued at $52,900,000 after acquiring an additional 275,452 shares during the period. AMP Capital Investors Ltd increased its stake in Baxter International by 1.5% during the second quarter. AMP Capital Investors Ltd now owns 267,439 shares of the medical instruments supplier’s stock valued at $19,749,000 after acquiring an additional 3,839 shares during the period. Putnam Investments LLC boosted its holdings in Baxter International by 33.9% during the second quarter. Putnam Investments LLC now owns 1,330,139 shares of the medical instruments supplier’s stock valued at $98,217,000 after purchasing an additional 336,950 shares in the last quarter. Swiss National Bank boosted its holdings in Baxter International by 6.1% during the second quarter. Swiss National Bank now owns 2,191,439 shares of the medical instruments supplier’s stock valued at $161,816,000 after purchasing an additional 125,700 shares in the last quarter. Finally, Dakota Wealth Management acquired a new stake in Baxter International during the second quarter valued at approximately $517,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Baxter International Company Profile

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

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