Analysts Set Baxter International Inc. (NYSE:BAX) PT at $49.00
Baxter International Inc. (NYSE:BAX) has received a consensus rating of “Hold” from the fourteen research firms that are presently covering the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $49.00.
Several research firms have recently commented on BAX. Barclays PLC began coverage on shares of Baxter International in a research note on Thursday, September 15th. They set an “overweight” rating and a $52.00 price objective for the company. RBC Capital Markets reiterated a “hold” rating and set a $50.00 price objective (up from $47.00) on shares of Baxter International in a research note on Wednesday, July 27th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $45.00 price objective on shares of Baxter International in a research note on Friday, July 8th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $60.00 price objective on shares of Baxter International in a research note on Monday, June 13th. Finally, Royal Bank Of Canada lifted their price objective on shares of Baxter International from $47.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 27th.
Shares of Baxter International (NYSE:BAX) opened at 48.45 on Friday. The stock has a market cap of $26.35 billion, a price-to-earnings ratio of 5.56 and a beta of 0.71. The firm has a 50-day moving average price of $47.07 and a 200-day moving average price of $45.36. Baxter International has a 52 week low of $32.92 and a 52 week high of $49.49.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Baxter International had a net margin of 47.74% and a return on equity of 10.70%. The business earned $2.60 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts anticipate that Baxter International will post $1.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.07%. Baxter International’s dividend payout ratio is currently 5.99%.
Several hedge funds have recently added to or reduced their stakes in the company. Smith Asset Management Group LP bought a new stake in Baxter International during the second quarter worth approximately $32,281,000. Trust Co. of Toledo NA OH boosted its stake in Baxter International by 5.5% in the second quarter. Trust Co. of Toledo NA OH now owns 40,696 shares of the company’s stock worth $1,840,000 after buying an additional 2,107 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in Baxter International by 2.1% in the first quarter. Riverhead Capital Management LLC now owns 235,633 shares of the company’s stock worth $9,681,000 after buying an additional 4,856 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Baxter International during the first quarter worth approximately $4,393,000. Finally, Simmons Bank bought a new stake in Baxter International during the first quarter worth approximately $338,000. 84.79% of the stock is owned by institutional investors and hedge funds.
About Baxter International
Baxter International Inc, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services.
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