Baxter International (NYSE:BAX) Now Covered by Raymond James

Raymond James started coverage on shares of Baxter International (NYSE:BAX) in a research note published on Tuesday, The Fly reports. The brokerage issued a buy rating and a $93.00 price target on the medical instruments supplier’s stock.

BAX has been the subject of a number of other reports. KeyCorp reduced their price objective on shares of Baxter International from $94.00 to $92.00 and set an overweight rating for the company in a research note on Monday, August 2nd. Stifel Nicolaus dropped their price objective on shares of Baxter International from $95.00 to $90.00 and set a buy rating on the stock in a report on Thursday, July 29th. The Goldman Sachs Group lowered their price target on shares of Baxter International from $93.00 to $80.00 and set a neutral rating on the stock in a report on Tuesday, August 3rd. Cowen raised shares of Baxter International from a market perform rating to an outperform rating and set a $98.00 price target on the stock in a report on Monday, September 13th. Finally, SVB Leerink reiterated a buy rating on shares of Baxter International in a research report on Sunday, September 5th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Buy and an average target price of $91.75.

Shares of Baxter International stock opened at $80.85 on Tuesday. Baxter International has a 52-week low of $73.12 and a 52-week high of $88.32. The stock has a market capitalization of $40.42 billion, a price-to-earnings ratio of 36.92, a price-to-earnings-growth ratio of 2.29 and a beta of 0.66. The company has a fifty day moving average of $78.46 and a 200-day moving average of $81.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.78 and a current ratio of 2.39.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Wednesday, July 28th. The medical instruments supplier reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.05. Baxter International had a net margin of 9.18% and a return on equity of 19.07%. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.11 billion. On average, equities research analysts forecast that Baxter International will post 3.53 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 3rd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, September 2nd. Baxter International’s payout ratio is presently 36.25%.

A number of hedge funds have recently bought and sold shares of the stock. Parisi Gray Wealth Management acquired a new position in shares of Baxter International in the second quarter valued at approximately $32,000. Harbor Investment Advisory LLC boosted its position in Baxter International by 63.3% during the second quarter. Harbor Investment Advisory LLC now owns 542 shares of the medical instruments supplier’s stock worth $44,000 after purchasing an additional 210 shares in the last quarter. Red Door Wealth Management LLC purchased a new stake in shares of Baxter International in the second quarter valued at $86,000. Dark Forest Capital Management LP acquired a new position in Baxter International in the second quarter valued at $87,000. Finally, Clean Yield Group acquired a new position in Baxter International in the second quarter valued at $91,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Baxter International Company Profile

Baxter International, Inc provides portfolio of essential renal and hospital products, including acute and chronic dialysis, sterile IV solutions, infusion systems and devices, parenteral nutrition therapies; premixed and oncolytic injectable, bio surgery products and anesthetics, drug reconstitution systems and pharmacy automation, software and services.

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Analyst Recommendations for Baxter International (NYSE:BAX)

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