Baxter International Inc (BAX) Receives $73.81 Average Target Price from Analysts

Baxter International Inc (NYSE:BAX) has been given a consensus recommendation of “Buy” by the seventeen ratings firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $73.81.

A number of brokerages recently issued reports on BAX. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research note on Tuesday, September 25th. Argus reiterated a “hold” rating on shares of Baxter International in a research note on Tuesday, September 4th. JPMorgan Chase & Co. lifted their price target on shares of Baxter International from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Royal Bank of Canada reiterated a “hold” rating and issued a $76.00 price target on shares of Baxter International in a research note on Friday, July 27th. Finally, Piper Jaffray Companies lifted their price target on shares of Baxter International from $77.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th.

In other news, SVP Giuseppe Accogli sold 17,647 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.27, for a total transaction of $1,363,583.69. Following the completion of the sale, the senior vice president now owns 59,452 shares in the company, valued at approximately $4,593,856.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.05% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Bridgeworth LLC purchased a new stake in Baxter International in the 2nd quarter valued at $102,000. Migdal Insurance & Financial Holdings Ltd. raised its position in Baxter International by 3,088.9% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,435 shares of the medical instruments supplier’s stock valued at $106,000 after purchasing an additional 1,390 shares during the last quarter. Baker Ellis Asset Management LLC purchased a new stake in Baxter International in the 2nd quarter valued at $111,000. Point72 Hong Kong Ltd purchased a new stake in Baxter International in the 3rd quarter valued at $122,000. Finally, Centaurus Financial Inc. purchased a new stake in Baxter International in the 2nd quarter valued at $117,000. Institutional investors and hedge funds own 81.96% of the company’s stock.

Baxter International stock traded down $0.06 during trading on Friday, reaching $65.47. The stock had a trading volume of 1,503,800 shares, compared to its average volume of 3,231,486. Baxter International has a 52-week low of $61.05 and a 52-week high of $78.38. The company has a quick ratio of 1.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $34.87 billion, a P/E ratio of 26.40, a P/E/G ratio of 1.76 and a beta of 1.02.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.79 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, research analysts anticipate that Baxter International will post 3 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 3rd will be given a dividend of $0.19 per share. The ex-dividend date is Friday, November 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.16%. Baxter International’s dividend payout ratio is presently 30.65%.

Baxter International announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 13th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the medical instruments supplier to buy up to 6.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Baxter International Company Profile

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It 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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