Royal Bank Of Canada Reaffirms Hold Rating for Baxter International Inc. (BAX)
Royal Bank Of Canada reaffirmed their hold rating on shares of Baxter International Inc. (NYSE:BAX) in a research note issued to investors on Wednesday morning. They currently have a $66.00 price target on the medical instruments supplier’s stock.
Other equities research analysts have also issued reports about the stock. BMO Capital Markets restated a buy rating and set a $70.00 target price on shares of Baxter International in a research report on Friday, October 13th. Zacks Investment Research upgraded shares of Baxter International from a hold rating to a buy rating and set a $69.00 target price on the stock in a research report on Tuesday, October 10th. Cantor Fitzgerald set a $70.00 target price on shares of Baxter International and gave the stock a buy rating in a research report on Wednesday, July 26th. BidaskClub lowered shares of Baxter International from a strong-buy rating to a buy rating in a research report on Monday, July 31st. Finally, Morgan Stanley boosted their target price on shares of Baxter International from $59.00 to $62.00 and gave the stock an equal weight rating in a research report on Thursday, October 26th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $67.46.
Shares of Baxter International (NYSE BAX) opened at $64.12 on Wednesday. The company has a market cap of $34,891.03, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.14 and a beta of 0.68. Baxter International has a 1 year low of $43.13 and a 1 year high of $65.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.22 and a current ratio of 2.80.
Baxter International (NYSE:BAX) last issued its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 EPS. sell-side analysts predict that Baxter International will post 2.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a $0.16 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.64 annualized dividend and a dividend yield of 1.00%. Baxter International’s dividend payout ratio is presently 34.41%.
In related news, Director Third Point Llc sold 5,000,000 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $64.23, for a total value of $321,150,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas T. Stallkamp sold 8,920 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $62.28, for a total transaction of $555,537.60. Following the completion of the sale, the director now owns 16,263 shares in the company, valued at $1,012,859.64. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC acquired a new position in Baxter International in the 3rd quarter valued at about $175,000. Americafirst Capital Management LLC acquired a new position in Baxter International in the 3rd quarter valued at about $710,000. Cypress Capital Group raised its stake in Baxter International by 65.8% in the 3rd quarter. Cypress Capital Group now owns 5,804 shares of the medical instruments supplier’s stock valued at $364,000 after purchasing an additional 2,304 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new position in Baxter International in the 3rd quarter valued at about $204,000. Finally, Colony Group LLC acquired a new position in Baxter International in the 3rd quarter valued at about $6,966,000. Institutional investors and hedge funds own 83.49% of the company’s stock.
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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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