Baxter International (NYSE:BAX) had its price objective boosted by stock analysts at Wells Fargo & Co from $72.00 to $76.00 in a research report issued on Tuesday. The brokerage currently has an “outperform” rating on the medical instruments supplier’s stock. Wells Fargo & Co’s price objective would suggest a potential upside of 12.99% from the stock’s previous close.
A number of other equities research analysts have also commented on BAX. Argus reiterated a “hold” rating on shares of Baxter International in a report on Tuesday, September 4th. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Tuesday, September 25th. Morgan Stanley upped their price target on shares of Baxter International from $68.00 to $75.00 and gave the company an “underweight” rating in a report on Thursday, October 11th. Barclays initiated coverage on shares of Baxter International in a report on Monday, October 15th. They set an “underweight” rating and a $73.00 price target for the company. Finally, ValuEngine lowered shares of Baxter International from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. Baxter International has a consensus rating of “Buy” and a consensus price target of $74.41.
NYSE:BAX opened at $67.26 on Tuesday. 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 0.38, a current ratio of 2.60 and a quick ratio of 1.96. The firm has a market cap of $35.79 billion, a P/E ratio of 27.12, a PEG ratio of 1.81 and a beta of 1.04.
Baxter International (NYSE:BAX) last posted its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.06. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the prior year, the business posted $0.64 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts expect that Baxter International will post 3 EPS for the current fiscal year.
Baxter International declared that its Board of Directors has approved a stock buyback program on Tuesday, November 13th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the medical instruments supplier to purchase up to 6.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
In other Baxter International news, insider Third Point Llc sold 8,000,000 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $68.62, for a total value of $548,960,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Giuseppe Accogli sold 17,647 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 59,452 shares of the company’s stock, valued at $4,593,856.04. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Baxter International by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 36,398,931 shares of the medical instruments supplier’s stock worth $2,805,993,000 after buying an additional 470,198 shares during the period. FMR LLC grew its position in shares of Baxter International by 2.5% in the 3rd quarter. FMR LLC now owns 29,356,040 shares of the medical instruments supplier’s stock worth $2,263,057,000 after buying an additional 719,013 shares during the period. Morgan Stanley grew its position in shares of Baxter International by 267.9% in the 3rd quarter. Morgan Stanley now owns 10,570,520 shares of the medical instruments supplier’s stock worth $814,880,000 after buying an additional 7,697,267 shares during the period. Standard Life Aberdeen plc grew its position in shares of Baxter International by 121.2% in the 3rd quarter. Standard Life Aberdeen plc now owns 5,743,738 shares of the medical instruments supplier’s stock worth $442,813,000 after buying an additional 3,146,868 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of Baxter International by 7.6% in the 3rd quarter. Janus Henderson Group PLC now owns 4,321,125 shares of the medical instruments supplier’s stock worth $333,116,000 after buying an additional 306,714 shares during the period. Institutional investors and hedge funds own 83.40% 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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