Stifel Nicolaus reaffirmed their hold rating on shares of Baxter International Inc. (NYSE:BAX) in a research report sent to investors on Thursday, October 26th. Stifel Nicolaus currently has a $65.00 price objective on the medical instruments supplier’s stock.
Several other research analysts have also recently issued reports on BAX. BidaskClub raised shares of Baxter International from a buy rating to a strong-buy rating in a report on Monday, August 14th. Citigroup Inc. began coverage on shares of Baxter International in a report on Thursday, August 17th. They issued a neutral rating and a $63.00 price objective for the company. Royal Bank Of Canada reaffirmed a hold rating and issued a $60.00 price objective on shares of Baxter International in a report on Tuesday, October 3rd. Cowen and Company set a $68.00 target price on shares of Baxter International and gave the stock a hold rating in a research note on Sunday, October 15th. Finally, Zacks Investment Research cut shares of Baxter International from a buy rating to a hold rating in a research note on Tuesday, August 1st. Six investment 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 company’s stock. Baxter International presently has a consensus rating of Buy and an average target price of $67.00.
Shares of Baxter International (NYSE BAX) traded up $0.37 during mid-day trading on Thursday, reaching $64.41. 1,658,000 shares of the company traded hands, compared to its average volume of 2,677,639. The stock has a market capitalization 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. The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37. Baxter International has a 12 month low of $43.13 and a 12 month high of $65.70.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. analysts anticipate that Baxter International will post 2.43 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.99%. Baxter International’s payout ratio is currently 34.41%.
In other Baxter International news, SVP Giuseppe Accogli sold 12,670 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $60.96, for a total value of $772,363.20. Following the sale, the senior vice president now directly owns 33,286 shares of the company’s stock, valued at approximately $2,029,114.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John D. Forsyth sold 9,440 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $61.76, for a total transaction of $583,014.40. Following the completion of the sale, the director now directly owns 32,444 shares in the company, valued at $2,003,741.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,035,050 shares of company stock worth $323,308,587. 0.05% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of BAX. BlackRock Inc. boosted its holdings in shares of Baxter International by 1,941.1% in the 1st quarter. BlackRock Inc. now owns 46,937,709 shares of the medical instruments supplier’s stock valued at $2,434,190,000 after buying an additional 44,638,052 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Baxter International by 42,907.2% in the 2nd quarter. Bessemer Group Inc. now owns 4,652,950 shares of the medical instruments supplier’s stock valued at $281,690,000 after buying an additional 4,642,131 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Baxter International by 2,859.6% in the 1st quarter. Renaissance Technologies LLC now owns 1,897,115 shares of the medical instruments supplier’s stock valued at $98,384,000 after buying an additional 1,833,015 shares in the last quarter. FMR LLC boosted its stake in Baxter International by 83.1% during the 1st quarter. FMR LLC now owns 3,225,482 shares of the medical instruments supplier’s stock worth $167,273,000 after purchasing an additional 1,463,443 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in Baxter International during the 1st quarter worth $65,780,000. Institutional investors and hedge funds own 82.85% of the company’s stock.
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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