Cowen Reiterates “$75.00” Price Target for Baxter International (BAX)

Cowen set a $75.00 price objective on Baxter International (NYSE:BAX) in a research note issued to investors on Monday, TipRanks reports. The firm currently has a hold rating on the medical instruments supplier’s stock.

A number of other equities analysts also recently commented on the stock. Barclays boosted their target price on shares of Baxter International from $72.00 to $75.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Wells Fargo & Co boosted their target price on shares of Baxter International from $80.00 to $89.00 and gave the stock an outperform rating in a report on Wednesday, April 3rd. Zacks Investment Research lowered Baxter International from a buy rating to a hold rating in a research note on Tuesday, April 2nd. Morgan Stanley boosted their price target on Baxter International from $80.00 to $83.00 and gave the stock an overweight rating in a research note on Tuesday, March 5th. Finally, Piper Jaffray Companies restated an overweight rating and set a $80.00 price target on shares of Baxter International in a research note on Friday, February 1st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Baxter International presently has a consensus rating of Buy and a consensus price target of $78.12.

Shares of Baxter International stock opened at $76.25 on Monday. The stock has a market capitalization of $39.02 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.84 and a beta of 1.02. The company has a quick ratio of 1.50, a current ratio of 2.09 and a debt-to-equity ratio of 0.44. Baxter International has a one year low of $61.05 and a one year high of $82.25.

Baxter International (NYSE:BAX) last announced its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.08. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. Baxter International had a net margin of 14.60% and a return on equity of 19.10%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. On average, sell-side analysts anticipate that Baxter International will post 3.27 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a dividend of $0.19 per share. The ex-dividend date was Thursday, February 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.00%. Baxter International’s payout ratio is 24.92%.

In related news, SVP Giuseppe Accogli sold 38,297 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $76.78, for a total value of $2,940,443.66. Following the sale, the senior vice president now owns 70,001 shares in the company, valued at $5,374,676.78. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jeanne K. Mason sold 37,274 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $72.00, for a total value of $2,683,728.00. The disclosure for this sale can be found here. Insiders have sold 95,099 shares of company stock worth $7,175,949 in the last 90 days. Insiders own 0.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. LS Investment Advisors LLC boosted its position in Baxter International by 48.8% in the first quarter. LS Investment Advisors LLC now owns 21,024 shares of the medical instruments supplier’s stock valued at $1,709,000 after buying an additional 6,894 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Baxter International by 3.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,384 shares of the medical instruments supplier’s stock valued at $519,000 after buying an additional 204 shares during the last quarter. First Merchants Corp boosted its position in Baxter International by 6.2% in the first quarter. First Merchants Corp now owns 26,460 shares of the medical instruments supplier’s stock valued at $2,151,000 after buying an additional 1,549 shares during the last quarter. Schmidt P J Investment Management Inc. purchased a new stake in Baxter International in the first quarter valued at approximately $241,000. Finally, Security National Trust Co. boosted its position in Baxter International by 13.0% in the first quarter. Security National Trust Co. now owns 16,990 shares of the medical instruments supplier’s stock valued at $1,381,000 after buying an additional 1,955 shares during the last quarter. Hedge funds and other institutional investors own 86.44% of the company’s stock.

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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