Baxter International Inc. (BAX) Receives Outperform Rating from Leerink Swann
Leerink Swann reaffirmed their outperform rating on shares of Baxter International Inc. (NYSE:BAX) in a research report report published on Thursday. The brokerage currently has a $75.00 price objective on the medical instruments supplier’s stock, up from their prior price objective of $67.00. Leerink Swann also issued estimates for Baxter International’s Q4 2017 earnings at $0.57 EPS, FY2017 earnings at $2.37 EPS, Q1 2018 earnings at $0.63 EPS, Q2 2018 earnings at $0.65 EPS, FY2018 earnings at $2.65 EPS and FY2019 earnings at $3.00 EPS.
Several other equities research analysts have also recently issued reports on BAX. Cowen and Company reiterated a market perform rating and issued a $68.00 price target (up from $66.00) on shares of Baxter International in a research note on Thursday. Cantor Fitzgerald set a $70.00 price target on Baxter International and gave the company a buy rating in a research note on Wednesday, July 26th. Barclays PLC boosted their price target on Baxter International from $64.00 to $70.00 and gave the company an overweight rating in a research note on Thursday. Morgan Stanley reiterated an underweight rating and issued a $55.00 price target (up from $52.00) on shares of Baxter International in a research note on Tuesday, July 25th. Finally, BMO Capital Markets reiterated a hold rating and issued a $55.00 price target on shares of Baxter International in a research note on Thursday, April 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The stock 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 50 day moving average price of $60.57 and a 200-day moving average price of $54.45. The firm has a market capitalization of $33.02 billion, a PE ratio of 36.85 and a beta of 0.66. Baxter International has a one year low of $43.13 and a one year high of $63.14.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Baxter International had a return on equity of 15.09% and a net margin of 8.85%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. On average, equities analysts forecast that Baxter International will post $2.37 earnings per share for the current year.
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The business also recently declared 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. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.05%. Baxter International’s dividend payout ratio (DPR) is presently 38.79%.
In other news, SVP Brik V. Eyre sold 130,732 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $55.69, for a total transaction of $7,280,465.08. Following the completion of the transaction, the senior vice president now directly owns 49,966 shares in the company, valued at $2,782,606.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carole J. Shapazian sold 2,618 shares of the company’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $57.92, for a total transaction of $151,634.56. Following the transaction, the director now owns 9,848 shares of the company’s stock, valued at $570,396.16. The disclosure for this sale can be found here. Insiders have sold 137,110 shares of company stock valued at $7,642,246 over the last quarter. Company insiders own 0.05% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Baxter International by 1,941.1% in the first quarter. BlackRock Inc. now owns 46,937,709 shares of the medical instruments supplier’s stock valued at $2,434,190,000 after buying an additional 44,638,052 shares during the period. Bessemer Group Inc. increased its position in shares of Baxter International by 42,907.2% in the second quarter. Bessemer Group Inc. now owns 4,652,950 shares of the medical instruments supplier’s stock valued at $281,690,000 after buying an additional 4,642,131 shares during the period. Renaissance Technologies LLC increased its position in shares of Baxter International by 2,859.6% in the first quarter. Renaissance Technologies LLC now owns 1,897,115 shares of the medical instruments supplier’s stock valued at $98,384,000 after buying an additional 1,833,015 shares during the period. Victory Capital Management Inc. increased its position in shares of Baxter International by 438.8% in the first quarter. Victory Capital Management Inc. now owns 1,968,222 shares of the medical instruments supplier’s stock valued at $102,072,000 after buying an additional 1,602,894 shares during the period. Finally, CI Global Investments Inc. bought a new position in shares of Baxter International during the first quarter valued at about $76,714,000. Institutional investors own 84.21% of the company’s stock.
About Baxter International
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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