Baxter International (BAX) Rating Increased to Outperform at Raymond James Financial

Baxter International (NYSE:BAX) was upgraded by Raymond James Financial from a “market perform” rating to an “outperform” rating in a research report issued on Wednesday. The firm presently has a $73.00 price target on the medical instruments supplier’s stock. Raymond James Financial’s target price would indicate a potential upside of 6.03% from the stock’s previous close.

A number of other research analysts also recently commented on BAX. Royal Bank of Canada reaffirmed a “hold” rating and issued a $60.00 target price on shares of Baxter International in a research report on Tuesday, October 3rd. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Tuesday, October 10th. BMO Capital Markets reissued a “buy” rating and set a $70.00 price objective on shares of Baxter International in a research report on Friday, October 13th. Cowen reissued a “neutral” rating on shares of Baxter International in a research report on Friday, October 13th. Finally, Morgan Stanley raised their price objective on shares of Baxter International from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. Seven analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $68.64.

Baxter International (BAX) traded up $0.43 during midday trading on Wednesday, hitting $68.85. 922,767 shares of the company were exchanged, compared to its average volume of 2,850,000. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.80 and a quick ratio of 2.22. The stock has a market cap of $37,510.00, a P/E ratio of 37.22, a price-to-earnings-growth ratio of 2.05 and a beta of 0.69. Baxter International has a 1 year low of $44.56 and a 1 year high of $68.87.

Baxter International (NYSE:BAX) last posted its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.56 EPS. equities analysts expect that Baxter International will post 2.43 earnings per share for the current year.

In other news, Director Third Point Llc sold 5,000,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $64.23, for a total value of $321,150,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeanne K. Mason sold 33,350 shares of the firm’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $65.25, for a total transaction of $2,176,087.50. Following the completion of the sale, the senior vice president now owns 124,609 shares of the company’s stock, valued at approximately $8,130,737.25. The disclosure for this sale can be found here. Insiders have sold a total of 5,061,991 shares of company stock worth $325,245,035 over the last three months. 0.05% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in BAX. Parametric Portfolio Associates LLC lifted its stake in shares of Baxter International by 71.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,632,846 shares of the medical instruments supplier’s stock worth $98,852,000 after acquiring an additional 678,429 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Baxter International by 35.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,413,054 shares of the medical instruments supplier’s stock worth $88,669,000 after acquiring an additional 372,500 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Baxter International by 19.0% in the 2nd quarter. New York State Common Retirement Fund now owns 1,830,523 shares of the medical instruments supplier’s stock worth $110,820,000 after acquiring an additional 291,752 shares during the period. Segall Bryant & Hamill LLC lifted its stake in shares of Baxter International by 209.0% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 412,054 shares of the medical instruments supplier’s stock worth $25,856,000 after acquiring an additional 278,685 shares during the period. Finally, Martingale Asset Management L P lifted its stake in shares of Baxter International by 78.8% in the 2nd quarter. Martingale Asset Management L P now owns 631,892 shares of the medical instruments supplier’s stock worth $38,256,000 after acquiring an additional 278,538 shares during the period. Institutional investors own 83.78% of the company’s stock.

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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.

Analyst Recommendations for Baxter International (NYSE:BAX)

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