Baxter International (BAX) PT Raised to $75.00

Baxter International (NYSE:BAX) had its target price boosted by analysts at Barclays from $72.00 to $75.00 in a report released on Monday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the medical instruments supplier’s stock. Barclays‘s price target indicates a potential downside of 3.38% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Co upped their price objective on shares of Baxter International from $80.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Zacks Investment Research cut shares of Baxter International from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Citigroup raised shares of Baxter International from a “neutral” rating to a “buy” rating and upped their price objective for the company from $69.00 to $76.00 in a research report on Wednesday, January 2nd. Credit Suisse Group assumed coverage on shares of Baxter International in a research report on Monday, December 17th. They issued an “outperform” rating and a $77.00 price objective for the company. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $80.00 price objective on shares of Baxter International in a research report on Friday, February 1st. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $78.31.

Shares of Baxter International stock opened at $77.62 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.09 and a quick ratio of 1.50. Baxter International has a twelve month low of $61.05 and a twelve month high of $82.25. The firm has a market cap of $40.54 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, January 31st. The medical instruments supplier reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Baxter International had a net margin of 14.60% and a return on equity of 19.10%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.80 billion. As a group, sell-side analysts expect that Baxter International will post 3.27 earnings per share for the current year.

In other news, Director Thomas T. Stallkamp sold 3,187 shares of the stock in a transaction dated Friday, January 18th. The shares were sold at an average price of $70.00, for a total transaction of $223,090.00. Following the transaction, the director now owns 9,418 shares of the company’s stock, valued at $659,260. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas T. Stallkamp sold 1,638 shares of the stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $73.75, for a total transaction of $120,802.50. The disclosure for this sale can be found here. Insiders have sold 98,286 shares of company stock worth $7,399,039 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Brookmont Capital Management lifted its position in shares of Baxter International by 3.7% during the fourth quarter. Brookmont Capital Management now owns 4,048 shares of the medical instruments supplier’s stock worth $266,000 after purchasing an additional 146 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC raised its stake in Baxter International by 3.6% during the fourth quarter. Sullivan Bruyette Speros & Blaney LLC now owns 4,322 shares of the medical instruments supplier’s stock worth $284,000 after acquiring an additional 150 shares during the period. Nachman Norwood & Parrott Inc raised its stake in Baxter International by 4.8% during the first quarter. Nachman Norwood & Parrott Inc now owns 3,269 shares of the medical instruments supplier’s stock worth $266,000 after acquiring an additional 150 shares during the period. Private Capital Group LLC raised its stake in Baxter International by 11.4% during the fourth quarter. Private Capital Group LLC now owns 1,504 shares of the medical instruments supplier’s stock worth $99,000 after acquiring an additional 154 shares during the period. Finally, Trust Co. of Toledo NA OH raised its stake in Baxter International by 0.4% during the fourth quarter. Trust Co. of Toledo NA OH now owns 38,188 shares of the medical instruments supplier’s stock worth $2,514,000 after acquiring an additional 158 shares during the period. 86.45% of the stock is currently owned by institutional investors and hedge funds.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company 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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Analyst Recommendations for Baxter International (NYSE:BAX)

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