Brokerages Set Baxter International Inc (BAX) Price Target at $77.86

Baxter International Inc (NYSE:BAX) has been assigned an average rating of “Buy” from the sixteen research firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $77.86.

Several analysts have recently issued reports on BAX shares. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, April 2nd. Morgan Stanley raised their target price on shares of Baxter International from $80.00 to $83.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Barclays raised their target price 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. Cowen set a $75.00 target price on shares of Baxter International and gave the company a “hold” rating in a report on Monday, April 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Baxter International from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, May 13th.

In related news, Director John D. Forsyth sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $75.92, for a total value of $113,880.00. Following the sale, the director now owns 31,703 shares of the company’s stock, valued at $2,406,891.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter S. Hellman sold 5,680 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $81.89, for a total transaction of $465,135.20. Following the completion of the sale, the director now directly owns 28,774 shares in the company, valued at approximately $2,356,302.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,056,187 shares of company stock worth $386,222,459. 0.70% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in Baxter International by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,205,779 shares of the medical instruments supplier’s stock worth $79,362,000 after purchasing an additional 17,633 shares in the last quarter. Round Table Services LLC raised its holdings in Baxter International by 19.9% during the first quarter. Round Table Services LLC now owns 4,015 shares of the medical instruments supplier’s stock worth $326,000 after purchasing an additional 666 shares in the last quarter. First Manhattan Co. raised its holdings in Baxter International by 1.6% during the first quarter. First Manhattan Co. now owns 56,186 shares of the medical instruments supplier’s stock worth $4,568,000 after purchasing an additional 893 shares in the last quarter. Mawer Investment Management Ltd. raised its holdings in Baxter International by 114.0% during the first quarter. Mawer Investment Management Ltd. now owns 2,622,591 shares of the medical instruments supplier’s stock worth $213,243,000 after purchasing an additional 1,396,850 shares in the last quarter. Finally, Westpac Banking Corp raised its holdings in Baxter International by 0.7% during the fourth quarter. Westpac Banking Corp now owns 242,512 shares of the medical instruments supplier’s stock worth $15,962,000 after purchasing an additional 1,659 shares in the last quarter. 84.02% of the stock is currently owned by institutional investors.

Shares of BAX traded up $0.69 during mid-day trading on Tuesday, hitting $77.54. 787,570 shares of the company’s stock were exchanged, compared to its average volume of 2,354,574. The stock has a market capitalization of $39.28 billion, a PE ratio of 25.42, a P/E/G ratio of 1.81 and a beta of 0.94. Baxter International has a fifty-two week low of $61.05 and a fifty-two week high of $82.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.30 and a current ratio of 1.83.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.08. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Baxter International had a net margin of 14.27% and a return on equity of 20.04%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, sell-side analysts predict that Baxter International will post 3.32 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a $0.22 dividend. This is a boost from Baxter International’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.88 annualized dividend and a yield of 1.13%. Baxter International’s dividend payout ratio (DPR) is 24.92%.

About Baxter International

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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Analyst Recommendations for Baxter International (NYSE:BAX)

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