Wells Fargo & Co. assumed coverage on shares of Baxter International Inc. (NYSE:BAX) in a report issued on Thursday. The firm set an “outperform” rating on the stock.

Several other research analysts have also weighed in on BAX. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 28th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Baxter International in a research report on Wednesday, July 6th. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $45.00 target price on shares of Baxter International in a research report on Friday, July 8th. Royal Bank Of Canada boosted their target price on Baxter International from $47.00 to $50.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 27th. Finally, RBC Capital Markets reaffirmed a “hold” rating and issued a $50.00 target price (up from $47.00) on shares of Baxter International in a research report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $48.25.

Analyst Recommendations for Baxter International (NYSE:BAX)

Shares of Baxter International (NYSE:BAX) opened at 46.98 on Thursday. Baxter International has a 52-week low of $32.96 and a 52-week high of $49.49. The stock has a 50 day moving average price of $47.02 and a 200-day moving average price of $45.51. The firm has a market capitalization of $25.55 billion, a PE ratio of 5.39 and a beta of 0.71.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Baxter International had a return on equity of 10.70% and a net margin of 47.74%. The firm earned $2.60 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the company posted $1.00 EPS. The business’s quarterly revenue was up 4.4% on a year-over-year basis. Equities analysts forecast that Baxter International will post $1.73 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Friday, September 2nd were paid a $0.13 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.52 annualized dividend and a yield of 1.11%. Baxter International’s payout ratio is 5.99%.

A number of institutional investors have recently bought and sold shares of the stock. Smith Asset Management Group LP purchased a new position in Baxter International during the second quarter valued at approximately $32,281,000. Trust Co. of Toledo NA OH increased its position 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 valued at $1,840,000 after buying an additional 2,107 shares during the last quarter. Riverhead Capital Management LLC increased its position in Baxter International by 2.1% in the first quarter. Riverhead Capital Management LLC now owns 235,633 shares of the company’s stock valued at $9,681,000 after buying an additional 4,856 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Baxter International during the first quarter valued at approximately $4,393,000. Finally, Simmons Bank purchased a new position in Baxter International during the first quarter valued at approximately $338,000. Institutional investors and hedge funds own 84.81% of the company’s stock.

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.

5 Day Chart for NYSE:BAX

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