Baxter International (BAX) Price Target Cut to $74.00

Baxter International (NYSE:BAX) had its price target lowered by Raymond James from $80.00 to $74.00 in a report published on Thursday. The firm currently has an outperform rating on the medical instruments supplier’s stock.

Several other equities research analysts also recently weighed in on BAX. Citigroup increased their price objective on Baxter International from $74.00 to $76.00 and gave the company a neutral rating in a report on Tuesday, July 31st. Royal Bank of Canada reissued a hold rating and issued a $76.00 price objective on shares of Baxter International in a report on Friday, July 27th. Wells Fargo & Co decreased their price objective on Baxter International from $82.00 to $72.00 and set an outperform rating for the company in a report on Thursday. ValuEngine downgraded Baxter International from a buy rating to a hold rating in a report on Thursday. Finally, Zacks Investment Research downgraded Baxter International from a buy rating to a hold rating in a report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $76.19.

Shares of Baxter International stock opened at $62.18 on Thursday. The company has a market capitalization of $33.22 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 1.67 and a beta of 1.02. Baxter International has a 52 week low of $61.05 and a 52 week high of $78.38. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.00 and a current ratio of 2.62.

Baxter International (NYSE:BAX) last posted its quarterly earnings data 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. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.79 billion. Baxter International had a return on equity of 17.72% and a net margin of 10.90%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share. Analysts anticipate that Baxter International will post 2.99 EPS for the current fiscal year.

In related news, Director Carole J. Shapazian sold 5,400 shares of the stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $72.97, for a total transaction of $394,038.00. Following the completion of the sale, the director now directly owns 15,248 shares of the company’s stock, valued at $1,112,646.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Giuseppe Accogli sold 17,647 shares of the stock in a transaction on Monday, September 17th. The stock was sold at an average price of $77.27, for a total value of $1,363,583.69. Following the sale, the senior vice president now directly owns 59,452 shares of the company’s stock, valued at $4,593,856.04. The disclosure for this sale can be found here. 0.07% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of BAX. Bridgeworth LLC acquired a new stake in Baxter International in the second quarter valued at $102,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Baxter International by 3,088.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,435 shares of the medical instruments supplier’s stock valued at $106,000 after acquiring an additional 1,390 shares during the period. Baker Ellis Asset Management LLC acquired a new stake in Baxter International in the second quarter valued at $111,000. Centaurus Financial Inc. acquired a new stake in Baxter International in the second quarter valued at $117,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Baxter International by 84.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,748 shares of the medical instruments supplier’s stock valued at $126,000 after acquiring an additional 800 shares during the period. 82.28% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Baxter International (NYSE:BAX)

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