Brokerages Set Baxter International Inc (NYSE:BAX) Price Target at $85.27

Shares of Baxter International Inc (NYSE:BAX) have earned a consensus rating of “Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $85.27.

A number of research firms have recently commented on BAX. Royal Bank of Canada set a $87.00 price objective on shares of Baxter International and gave the company a “hold” rating in a research note on Friday, July 26th. Wells Fargo & Co set a $95.00 price objective on shares of Baxter International and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays set a $82.00 price objective on shares of Baxter International and gave the company a “hold” rating in a research note on Friday, July 26th. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Friday, June 21st. Finally, Piper Jaffray Companies upped their price objective on shares of Baxter International from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th.

In other news, Director John D. Forsyth sold 1,320 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $78.21, for a total transaction of $103,237.20. Following the completion of the sale, the director now owns 32,779 shares in the company, valued at approximately $2,563,645.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Gavin III sold 7,950 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $87.63, for a total value of $696,658.50. Following the sale, the director now owns 40,932 shares of the company’s stock, valued at approximately $3,586,871.16. The disclosure for this sale can be found here. Insiders have sold a total of 9,863 shares of company stock valued at $847,608 in the last quarter. Company insiders own 0.70% of the company’s stock.

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Baxter International by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,205,779 shares of the medical instruments supplier’s stock worth $79,362,000 after purchasing an additional 17,633 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Baxter International by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 6,444,204 shares of the medical instruments supplier’s stock valued at $423,409,000 after purchasing an additional 297,006 shares during the period. Carroll Financial Associates Inc. lifted its stake in shares of Baxter International by 6.0% in the 1st quarter. Carroll Financial Associates Inc. now owns 4,235 shares of the medical instruments supplier’s stock valued at $344,000 after purchasing an additional 239 shares during the period. Eqis Capital Management Inc. lifted its stake in shares of Baxter International by 42.0% in the 1st quarter. Eqis Capital Management Inc. now owns 13,068 shares of the medical instruments supplier’s stock valued at $1,063,000 after purchasing an additional 3,866 shares during the period. Finally, Financial Gravity Wealth Inc. acquired a new position in shares of Baxter International in the 1st quarter valued at $54,000. Institutional investors and hedge funds own 82.60% of the company’s stock.

BAX stock traded down $1.48 during trading on Friday, hitting $85.73. The stock had a trading volume of 75,851 shares, compared to its average volume of 2,314,841. The company’s 50 day moving average price is $84.32 and its two-hundred day moving average price is $78.64. Baxter International has a 1-year low of $61.05 and a 1-year high of $88.48. The stock has a market cap of $44.40 billion, a price-to-earnings ratio of 28.08, a price-to-earnings-growth ratio of 2.01 and a beta of 1.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.10 and a current ratio of 2.78.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.08. Baxter International had a net margin of 14.28% and a return on equity of 21.21%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the company posted $0.77 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, sell-side analysts forecast that Baxter International will post 3.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Thursday, August 29th. Baxter International’s payout ratio is currently 28.85%.

Baxter International Company Profile

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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