Barclays PLC Raises Baxter International Inc. (NYSE:BAX) Price Target to $70.00
Baxter International Inc. (NYSE:BAX) had its price objective raised by Barclays PLC from $64.00 to $70.00 in a research report sent to investors on Thursday morning, MarketBeat reports. They currently have an overweight rating on the medical instruments supplier’s stock.
Several other equities analysts have also commented on the stock. Leerink Swann raised shares of Baxter International from a market perform rating to an outperform rating and increased their price objective for the company from $54.00 to $64.00 in a research report on Tuesday, April 4th. Cowen and Company reaffirmed a market perform rating and issued a $66.00 price objective (up from $57.00) on shares of Baxter International in a research report on Monday, July 10th. Evercore ISI reaffirmed an outperform rating and issued a $60.00 price objective (up from $57.00) on shares of Baxter International in a research report on Saturday, April 29th. Royal Bank Of Canada increased their price objective on shares of Baxter International from $55.00 to $58.00 and gave the company a sector perform rating in a research report on Thursday, April 27th. Finally, Stifel Nicolaus increased their price objective on shares of Baxter International from $58.00 to $61.00 and gave the company a hold rating in a research report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Baxter International presently has a consensus rating of Buy and an average price target of $65.33.
Baxter International (NYSE BAX) opened at 60.73 on Thursday. The stock has a market capitalization of $33.02 billion, a PE ratio of 36.85 and a beta of 0.66. The firm has a 50-day moving average of $60.57 and a 200 day moving average of $54.45. Baxter International has a one year low of $43.13 and a one year high of $63.14.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. Baxter International had a net margin of 8.85% and a return on equity of 15.09%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period last year, the business earned $0.46 EPS. The company’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that Baxter International will post $2.37 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is 38.79%.
In other news, Director Carole J. Shapazian sold 2,618 shares of Baxter International stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total transaction of $151,634.56. Following the completion of the transaction, the director now directly owns 9,848 shares of the company’s stock, valued at approximately $570,396.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carole J. Shapazian sold 3,760 shares of Baxter International stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $55.89, for a total transaction of $210,146.40. Following the transaction, the director now directly owns 16,226 shares of the company’s stock, valued at $906,871.14. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,110 shares of company stock valued at $7,642,246. Insiders own 0.05% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Perigon Wealth Management LLC raised its position in Baxter International by 9.2% in the fourth quarter. Perigon Wealth Management LLC now owns 13,022 shares of the medical instruments supplier’s stock valued at $663,000 after buying an additional 1,102 shares during the period. USA Financial Portformulas Corp bought a new stake in Baxter International during the fourth quarter worth about $615,000. Teachers Advisors LLC boosted its stake in Baxter International by 11.0% in the fourth quarter. Teachers Advisors LLC now owns 1,350,276 shares of the medical instruments supplier’s stock worth $59,871,000 after buying an additional 133,830 shares in the last quarter. Kentucky Retirement Systems bought a new stake in Baxter International during the fourth quarter worth about $1,575,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Baxter International during the fourth quarter worth about $703,000. 84.21% of the stock is owned by hedge funds and other institutional investors.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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