Baxter International Inc. (BAX) Stock Rating Reaffirmed by Royal Bank Of Canada
Baxter International Inc. (NYSE:BAX)‘s stock had its “hold” rating restated by equities researchers at Royal Bank Of Canada in a report issued on Tuesday. They currently have a $60.00 target price on the medical instruments supplier’s stock. Royal Bank Of Canada’s target price would suggest a potential downside of 4.61% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. BidaskClub upgraded Baxter International from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th. Citigroup Inc. began coverage on Baxter International in a research report on Thursday, August 17th. They set a “neutral” rating and a $63.00 price target on the stock. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Cantor Fitzgerald set a $70.00 price target on Baxter International and gave the company a “buy” rating in a research report on Wednesday, July 26th. Finally, Leerink Swann restated an “outperform” rating and set a $75.00 price target (up previously from $67.00) on shares of Baxter International in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $65.42.
Baxter International (NYSE:BAX) opened at 62.90 on Tuesday. Baxter International has a one year low of $43.13 and a one year high of $64.75. The firm has a market cap of $34.27 billion, a PE ratio of 38.17 and a beta of 0.65. The firm has a 50-day moving average price of $62.65 and a 200-day moving average price of $58.83.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. On average, equities analysts expect that Baxter International will post $2.39 EPS for the current fiscal year.
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In other news, Director Carole J. Shapazian sold 4,020 shares of Baxter International stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.61, for a total value of $247,672.20. Following the transaction, the director now owns 13,868 shares in the company, valued at $854,407.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Giuseppe Accogli sold 12,670 shares of Baxter International stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $60.96, for a total value of $772,363.20. Following the completion of the transaction, the senior vice president now owns 33,286 shares in the company, valued at approximately $2,029,114.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,050 shares of company stock worth $2,158,587. Company insiders own 0.05% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC purchased a new position in Baxter International during the 2nd quarter valued at about $109,000. Bronfman E.L. Rothschild L.P. increased its holdings in Baxter International by 3.9% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock valued at $144,000 after purchasing an additional 103 shares during the period. Acrospire Investment Management LLC increased its holdings in Baxter International by 71.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock valued at $145,000 after purchasing an additional 1,000 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in Baxter International by 8.4% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock valued at $177,000 after purchasing an additional 226 shares during the period. Finally, Captrust Financial Advisors purchased a new position in Baxter International during the 2nd quarter valued at about $188,000. Hedge funds and other institutional investors own 83.62% 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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