Brokerages Set Baxter International Inc (BAX) PT at $77.60
Shares of Baxter International Inc (NYSE:BAX) have received a consensus rating of “Buy” from the seventeen brokerages that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $77.80.
Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Baxter International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Wells Fargo & Co increased their target price on shares of Baxter International from $80.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, April 2nd. Morgan Stanley increased their target price on shares of Baxter International from $80.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $80.00 target price on shares of Baxter International in a report on Friday, February 1st.
Shares of Baxter International stock traded up $0.92 on Monday, hitting $75.25. The company had a trading volume of 2,894,113 shares, compared to its average volume of 3,099,954. The stock has a market capitalization of $37.99 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 1.79 and a beta of 1.02. Baxter International has a twelve month low of $61.05 and a twelve month high of $82.25. The company has a quick ratio of 1.50, a current ratio of 2.09 and a debt-to-equity ratio of 0.44.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.01%. The ex-dividend date was Thursday, February 28th. Baxter International’s payout ratio is 24.92%.
In other Baxter International news, Director Thomas T. Stallkamp sold 1,638 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $73.75, for a total value of $120,802.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeanne K. Mason sold 37,274 shares of the stock in a transaction on Thursday, January 31st. The shares were sold at an average price of $72.00, for a total transaction of $2,683,728.00. The disclosure for this sale can be found here. Insiders have sold 95,099 shares of company stock valued at $7,175,949 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in BAX. Martingale Asset Management L P lifted its stake in Baxter International by 1.6% in the third quarter. Martingale Asset Management L P now owns 722,269 shares of the medical instruments supplier’s stock valued at $55,681,000 after acquiring an additional 11,546 shares during the last quarter. Standard Life Aberdeen plc lifted its stake in Baxter International by 121.2% in the third quarter. Standard Life Aberdeen plc now owns 5,743,738 shares of the medical instruments supplier’s stock valued at $442,813,000 after acquiring an additional 3,146,868 shares during the last quarter. Paloma Partners Management Co lifted its stake in Baxter International by 86.1% in the third quarter. Paloma Partners Management Co now owns 15,347 shares of the medical instruments supplier’s stock valued at $1,184,000 after acquiring an additional 7,099 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Baxter International by 14.9% in the third quarter. Pacer Advisors Inc. now owns 26,451 shares of the medical instruments supplier’s stock valued at $2,039,000 after acquiring an additional 3,434 shares during the last quarter. Finally, Vident Investment Advisory LLC acquired a new stake in Baxter International in the third quarter valued at $643,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.
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