Baxter International (NYSE:BAX) Price Target Raised to $44.00

Baxter International (NYSE:BAXFree Report) had its price objective raised by JPMorgan Chase & Co. from $38.00 to $44.00 in a research note published on Friday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the medical instruments supplier’s stock.

Several other equities analysts have also weighed in on BAX. UBS Group cut their target price on Baxter International from $40.00 to $36.00 and set a neutral rating on the stock in a report on Tuesday, February 6th. Morgan Stanley lowered their price target on Baxter International from $45.00 to $39.00 and set an equal weight rating on the stock in a research report on Monday, December 4th. StockNews.com raised Baxter International from a hold rating to a buy rating in a research report on Friday, January 19th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Baxter International from $35.00 to $50.00 and gave the company a hold rating in a research report on Tuesday, October 24th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Baxter International has an average rating of Hold and an average target price of $46.30.

View Our Latest Stock Report on Baxter International

Baxter International Price Performance

Shares of NYSE:BAX opened at $40.33 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 1.31. Baxter International has a 1 year low of $31.01 and a 1 year high of $50.21. The business has a fifty day simple moving average of $38.69 and a 200 day simple moving average of $38.03. The firm has a market cap of $20.48 billion, a price-to-earnings ratio of 7.73, a P/E/G ratio of 2.63 and a beta of 0.61.

Baxter International (NYSE:BAXGet Free Report) last announced its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.02. Baxter International had a return on equity of 19.49% and a net margin of 17.77%. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same period last year, the company earned $0.88 earnings per share. Baxter International’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts predict that Baxter International will post 2.89 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.88%. Baxter International’s dividend payout ratio (DPR) is presently 22.22%.

Institutional Investors Weigh In On Baxter International

A number of institutional investors have recently added to or reduced their stakes in BAX. Zions Bancorporation N.A. grew its position in Baxter International by 30.1% during the first quarter. Zions Bancorporation N.A. now owns 10,964 shares of the medical instruments supplier’s stock worth $850,000 after buying an additional 2,535 shares in the last quarter. Gabelli Funds LLC lifted its stake in Baxter International by 6.0% during the first quarter. Gabelli Funds LLC now owns 281,374 shares of the medical instruments supplier’s stock worth $21,818,000 after purchasing an additional 15,925 shares during the period. Ancora Advisors LLC lifted its stake in Baxter International by 29.2% during the first quarter. Ancora Advisors LLC now owns 1,351 shares of the medical instruments supplier’s stock worth $114,000 after purchasing an additional 305 shares during the period. Eudaimonia Partners LLC bought a new position in Baxter International during the first quarter worth about $340,000. Finally, KB Financial Partners LLC lifted its stake in Baxter International by 6.2% during the first quarter. KB Financial Partners LLC now owns 4,815 shares of the medical instruments supplier’s stock worth $373,000 after purchasing an additional 279 shares during the period. 85.47% of the stock is owned by institutional investors and hedge funds.

About Baxter International

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Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; premixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

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