Baxter International (NYSE:BAX) had its price target raised by Wells Fargo & Co from $72.00 to $76.00 in a research report sent to investors on Tuesday. Wells Fargo & Co currently has an outperform rating on the medical instruments supplier’s stock.
A number of other equities analysts have also recently commented on BAX. Zacks Investment Research restated a hold rating and set a $71.00 target price on shares of Baxter International in a report on Monday, November 12th. Piper Jaffray Companies lowered their target price on Baxter International from $83.00 to $72.00 and set an overweight rating for the company in a report on Thursday, November 1st. BMO Capital Markets lowered their target price on Baxter International from $86.00 to $76.00 and set an outperform rating for the company in a report on Thursday, November 1st. ValuEngine upgraded Baxter International from a hold rating to a buy rating in a report on Thursday, November 15th. Finally, Citigroup lowered their target price on Baxter International from $76.00 to $69.00 and set a neutral rating for the company in a report on Tuesday, November 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. Baxter International currently has a consensus rating of Buy and an average price target of $74.41.
Shares of Baxter International stock opened at $65.02 on Tuesday. Baxter International has a 12 month low of $61.05 and a 12 month high of $78.38. The stock has a market cap of $35.54 billion, a P/E ratio of 26.22, a PEG ratio of 1.80 and a beta of 1.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.60 and a quick ratio of 1.96.
Baxter International (NYSE:BAX) last announced its earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.06. Baxter International had a return on equity of 17.67% and a net margin of 10.90%. The company had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same period last year, the business posted $0.64 EPS. Baxter International’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts expect that Baxter International will post 3 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Friday, November 30th. Baxter International’s payout ratio is presently 30.65%.
Baxter International declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 13th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the medical instruments supplier to buy up to 6.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In related news, SVP Giuseppe Accogli sold 17,647 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $77.27, for a total transaction of $1,363,583.69. Following the completion of the sale, the senior vice president now owns 59,452 shares in the company, valued at $4,593,856.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carole J. Shapazian sold 11,749 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $68.48, for a total value of $804,571.52. Following the sale, the director now owns 15,237 shares of the company’s stock, valued at approximately $1,043,429.76. The disclosure for this sale can be found here. Insiders sold a total of 8,029,396 shares of company stock valued at $551,128,155 in the last quarter. Company insiders own 0.05% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Baxter International by 1.3% during the third quarter. Vanguard Group Inc. now owns 36,398,931 shares of the medical instruments supplier’s stock worth $2,805,993,000 after purchasing an additional 470,198 shares during the last quarter. FMR LLC lifted its stake in Baxter International by 2.5% during the third quarter. FMR LLC now owns 29,356,040 shares of the medical instruments supplier’s stock worth $2,263,057,000 after purchasing an additional 719,013 shares during the last quarter. Morgan Stanley lifted its stake in Baxter International by 267.9% during the third quarter. Morgan Stanley now owns 10,570,520 shares of the medical instruments supplier’s stock worth $814,880,000 after purchasing an additional 7,697,267 shares during the last quarter. Standard Life Aberdeen plc lifted its stake in Baxter International by 121.2% during the third quarter. Standard Life Aberdeen plc now owns 5,743,738 shares of the medical instruments supplier’s stock worth $442,813,000 after purchasing an additional 3,146,868 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Baxter International by 7.6% during the third quarter. Janus Henderson Group PLC now owns 4,321,125 shares of the medical instruments supplier’s stock worth $333,116,000 after purchasing an additional 306,714 shares during the last quarter. Hedge funds and other institutional investors own 83.40% of the company’s stock.
Baxter International Company Profile
Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It 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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