Cantor Fitzgerald set a $70.00 target price on Baxter International Inc. (NYSE:BAX) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the medical instruments supplier’s stock.

BAX has been the topic of a number of other research reports. Leerink Swann upgraded shares of Baxter International from a market perform rating to an outperform rating and lifted their target price for the company from $54.00 to $64.00 in a research note on Tuesday, April 4th. Cowen and Company restated a market perform rating and set a $66.00 target price (up previously from $57.00) on shares of Baxter International in a research note on Monday, July 10th. Evercore ISI restated an outperform rating and set a $60.00 target price (up previously from $57.00) on shares of Baxter International in a research note on Saturday, April 29th. Barclays PLC lifted their target price on shares of Baxter International from $62.00 to $64.00 and gave the company an overweight rating in a research note on Wednesday, June 14th. Finally, Royal Bank Of Canada lifted their target price on shares of Baxter International from $55.00 to $58.00 and gave the company a sector perform rating in a research note on Thursday, April 27th. 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 issued a strong buy rating to the company’s stock. Baxter International currently has a consensus rating of Buy and a consensus target price of $65.33.

Shares of Baxter International (NYSE:BAX) opened at 60.73 on Wednesday. The stock has a market cap of $33.02 billion, a P/E ratio of 36.85 and a beta of 0.66. Baxter International has a 52-week low of $43.13 and a 52-week high of $63.14. The firm’s 50 day moving average price is $60.57 and its 200 day moving average price is $54.45.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 quarter last year, the company posted $0.46 EPS. The company’s revenue was up .8% compared to the same quarter last year. On average, analysts expect that Baxter International will post $2.37 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors 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 yield of 1.05%. Baxter International’s payout ratio is 38.79%.

In other Baxter International news, Director Carole J. Shapazian sold 3,760 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $55.89, for a total value of $210,146.40. Following the completion of the sale, the director now directly owns 16,226 shares of the company’s stock, valued at approximately $906,871.14. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Brik V. Eyre sold 130,732 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 49,966 shares of the company’s stock, valued at $2,782,606.54. The disclosure for this sale can be found here. Insiders have sold a total of 137,110 shares of company stock worth $7,642,246 over the last quarter. 0.05% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in BAX. Reilly Financial Advisors LLC boosted its stake in Baxter International by 20.4% in the first quarter. Reilly Financial Advisors LLC now owns 2,054 shares of the medical instruments supplier’s stock valued at $107,000 after buying an additional 348 shares during the period. Quadrant Capital Group LLC boosted its stake in Baxter International by 1.3% in the first quarter. Quadrant Capital Group LLC now owns 2,344 shares of the medical instruments supplier’s stock valued at $113,000 after buying an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in Baxter International by 6.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,533 shares of the medical instruments supplier’s stock valued at $131,000 after buying an additional 145 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in Baxter International by 3.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock valued at $144,000 after buying an additional 103 shares during the period. Finally, Trust Co. of Vermont boosted its stake in Baxter International by 8.7% in the first quarter. Trust Co. of Vermont now owns 3,282 shares of the medical instruments supplier’s stock valued at $170,000 after buying an additional 262 shares during the period. 84.13% of the stock is owned by 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.

Analyst Recommendations for Baxter International (NYSE:BAX)

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