Baxter International (NYSE:BAX) Price Target Raised to $40.00 at Citigroup

by · The Markets Daily

Baxter International (NYSE:BAX – Free Report) had its price objective lifted by Citigroup from $38.00 to $40.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the medical instruments supplier’s stock.

A number of other equities research analysts have also issued reports on the company. JPMorgan Chase & Co. reduced their price target on Baxter International from $44.00 to $42.00 and set a neutral rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company reduced their target price on shares of Baxter International from $44.00 to $40.00 and set an equal weight rating on the stock in a report on Wednesday, August 7th. Evercore ISI lowered their price target on shares of Baxter International from $46.00 to $45.00 and set an outperform rating for the company in a report on Tuesday, July 2nd. Morgan Stanley lowered shares of Baxter International from an equal weight rating to an underweight rating and reduced their price objective for the company from $39.00 to $30.00 in a report on Monday, July 15th. Finally, StockNews.com upgraded shares of Baxter International from a hold rating to a buy rating in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $42.00.

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Baxter International Trading Up 3.5 %

Shares of BAX stock opened at $36.33 on Tuesday. Baxter International has a fifty-two week low of $31.01 and a fifty-two week high of $44.01. The company has a 50 day moving average price of $37.48 and a 200 day moving average price of $37.05. The stock has a market capitalization of $18.51 billion, a P/E ratio of 6.99, a price-to-earnings-growth ratio of 1.32 and a beta of 0.59. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40.

Baxter International (NYSE:BAX – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, topping the consensus estimate of $0.66 by $0.02. The business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Equities research analysts predict that Baxter International will post 2.96 EPS for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, August 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 annualized dividend and a yield of 3.19%. Baxter International’s dividend payout ratio (DPR) is presently 22.31%.

Institutional Trading of Baxter International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new position in shares of Baxter International during the 2nd quarter worth about $27,000. LRI Investments LLC acquired a new position in Baxter International during the first quarter worth approximately $39,000. Versant Capital Management Inc raised its stake in Baxter International by 974.2% during the second quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock worth $45,000 after purchasing an additional 1,208 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Baxter International by 31.0% in the 4th quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock valued at $72,000 after purchasing an additional 443 shares during the last quarter. Finally, Archer Investment Corp boosted its holdings in shares of Baxter International by 20.8% in the 2nd quarter. Archer Investment Corp now owns 2,235 shares of the medical instruments supplier’s stock valued at $75,000 after purchasing an additional 385 shares during the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

About Baxter International

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Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.

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