Baxter International (NYSE:BAX) PT Set at $94.00 by JPMorgan Chase & Co.

JPMorgan Chase & Co. set a $94.00 price objective on Baxter International (NYSE:BAX) in a research report report published on Tuesday, TipRanks reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

Several other equities research analysts also recently commented on BAX. Barclays set a $82.00 target price on Baxter International and gave the company a hold rating in a report on Friday, July 26th. Royal Bank of Canada set a $87.00 price objective on Baxter International and gave the stock a hold rating in a research note on Friday, July 26th. BMO Capital Markets increased their price objective on Baxter International to $95.00 and gave the stock an outperform rating in a research note on Friday, July 26th. Piper Jaffray Companies reissued a buy rating on shares of Baxter International in a research note on Tuesday, September 10th. Finally, Credit Suisse Group increased their price objective on Baxter International from $84.00 to $95.00 and gave the stock an outperform rating in a research note on Friday, July 26th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $85.67.

Shares of NYSE BAX opened at $88.03 on Tuesday. Baxter International has a 12 month low of $61.05 and a 12 month high of $89.93. The company has a market cap of $45.20 billion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.97 and a beta of 0.99. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $87.00 and a 200-day simple moving average of $81.69.

Baxter International (NYSE:BAX) last announced its earnings results on Thursday, July 25th. The medical instruments supplier reported $0.89 EPS for the quarter, beating the consensus estimate of $0.81 by $0.08. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the business posted $0.77 earnings per share. Baxter International’s revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts expect that Baxter International will post 3.37 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.00%. The ex-dividend date was Thursday, August 29th. Baxter International’s dividend payout ratio is currently 28.85%.

In other Baxter International news, SVP Jacqueline Kunzler sold 5,934 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $88.12, for a total value of $522,904.08. Following the transaction, the senior vice president now directly owns 3,089 shares of the company’s stock, valued at approximately $272,202.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director James R. Gavin III sold 7,950 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $87.63, for a total value of $696,658.50. Following the completion of the transaction, the director now directly owns 40,932 shares in the company, valued at $3,586,871.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,064 shares of company stock valued at $1,235,359. Company insiders own 0.70% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Advisory Services Network LLC increased its position in Baxter International by 47.0% in the 2nd quarter. Advisory Services Network LLC now owns 3,050 shares of the medical instruments supplier’s stock worth $250,000 after purchasing an additional 975 shares during the last quarter. Chemical Bank increased its position in Baxter International by 2.4% in the 2nd quarter. Chemical Bank now owns 14,808 shares of the medical instruments supplier’s stock worth $1,213,000 after purchasing an additional 343 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new position in Baxter International in the 2nd quarter worth about $32,000. Man Group plc increased its position in Baxter International by 3.5% in the 2nd quarter. Man Group plc now owns 612,829 shares of the medical instruments supplier’s stock worth $50,190,000 after purchasing an additional 20,486 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in Baxter International by 3.1% in the 2nd quarter. Cetera Investment Advisers now owns 4,409 shares of the medical instruments supplier’s stock worth $360,000 after purchasing an additional 134 shares during the last quarter. 83.44% of the stock is currently owned by institutional investors.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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