Baxter International Inc. (NYSE:BAX) had its price target lifted by UBS AG from $57.00 to $62.00 in a research report report published on Friday morning, 99wallstreet.com reports. The brokerage currently has a neutral rating on the medical instruments supplier’s stock.

BAX has been the topic of several other research reports. Leerink Swann raised Baxter International from a market perform rating to an outperform rating and lifted their price target for the company from $54.00 to $64.00 in a research note on Tuesday, April 4th. Barclays PLC lifted 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, July 27th. Cowen and Company reissued a market perform rating and issued a $66.00 price target (up previously from $57.00) on shares of Baxter International in a research note on Monday, July 10th. Evercore ISI reissued an outperform rating and issued a $60.00 price target (up previously from $57.00) on shares of Baxter International in a research note on Saturday, April 29th. Finally, Royal Bank Of Canada lifted their price target on 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 equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Baxter International presently has a consensus rating of Buy and an average price target of $65.33.

Baxter International (BAX) opened at 60.48 on Friday. The firm has a market capitalization of $32.88 billion, a price-to-earnings ratio of 36.70 and a beta of 0.66. Baxter International has a 12 month low of $43.13 and a 12 month high of $63.14. The firm has a 50-day moving average price of $60.61 and a 200 day moving average price of $54.67.

Baxter International (NYSE:BAX) last posted its 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. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a return on equity of 15.09% and a net margin of 8.85%. The company’s revenue for the quarter was up .8% on a year-over-year basis. 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 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is presently 38.79%.

In other Baxter International news, Director Carole J. Shapazian sold 2,618 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed 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 that occurred on Monday, May 8th. The stock was sold at an average price of $55.69, for a total value of $7,280,465.08. Following the transaction, the senior vice president now directly owns 49,966 shares in the company, valued at approximately $2,782,606.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,110 shares of company stock worth $7,642,246. Company insiders own 0.05% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the company. Pure Financial Advisors Inc. boosted its stake in shares of Baxter International by 0.3% in the first quarter. Pure Financial Advisors Inc. now owns 7,459 shares of the medical instruments supplier’s stock worth $387,000 after buying an additional 22 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of 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 worth $113,000 after buying an additional 31 shares in the last quarter. Dumont & Blake Investment Advisors LLC boosted its stake in shares of Baxter International by 0.3% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 12,786 shares of the medical instruments supplier’s stock worth $663,000 after buying an additional 40 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management boosted its stake in shares of Baxter International by 0.3% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 18,079 shares of the medical instruments supplier’s stock worth $938,000 after buying an additional 54 shares in the last quarter. Finally, Reliance Trust Co. of Delaware boosted its stake in shares of Baxter International by 1.1% in the first quarter. Reliance Trust Co. of Delaware now owns 5,743 shares of the medical instruments supplier’s stock worth $298,000 after buying an additional 63 shares in the last quarter. 84.21% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Baxter International (NYSE:BAX)

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