JPMorgan Chase & Co. Raises Baxter International (NYSE:BAX) Price Target to $44.00

Baxter International (NYSE:BAXFree Report) had its target price lifted by JPMorgan Chase & Co. from $38.00 to $44.00 in a research report report published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the medical instruments supplier’s stock.

A number of other research firms have also commented on BAX. StockNews.com upgraded shares of Baxter International from a hold rating to a buy rating in a research report on Friday, January 19th. UBS Group dropped their target price on shares of Baxter International from $40.00 to $36.00 and set a neutral rating for the company in a research report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Baxter International from $35.00 to $50.00 and gave the company a hold rating in a research report on Tuesday, October 24th. Finally, Morgan Stanley dropped their target price on shares of Baxter International from $45.00 to $39.00 and set an equal weight rating for the company in a research report on Monday, December 4th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $46.30.

Get Our Latest Stock Analysis on BAX

Baxter International Price Performance

Shares of NYSE:BAX opened at $40.33 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $20.48 billion, a PE ratio of 7.73, a P/E/G ratio of 2.63 and a beta of 0.61. Baxter International has a twelve month low of $31.01 and a twelve month high of $50.21. The company has a 50-day moving average price of $38.69 and a two-hundred day moving average price of $38.03.

Baxter International (NYSE:BAXGet Free Report) last released its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.02. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The company had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same period last year, the business earned $0.88 earnings per share. Baxter International’s revenue was up 3.5% compared to the same quarter last year. Equities analysts forecast that Baxter International will post 2.89 EPS for the current year.

Baxter International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.88%. Baxter International’s payout ratio is 22.22%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Headinvest LLC purchased a new position in shares of Baxter International in the third quarter worth $25,000. Indiana Trust & Investment Management CO purchased a new position in shares of Baxter International in the third quarter worth $27,000. RFP Financial Group LLC purchased a new position in Baxter International during the 2nd quarter valued at $36,000. Bruce G. Allen Investments LLC purchased a new position in Baxter International during the 4th quarter valued at $36,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Baxter International during the 4th quarter valued at $37,000. 85.47% of the stock is owned by hedge funds and other institutional investors.

About Baxter International

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Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; premixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

Further Reading

Analyst Recommendations for Baxter International (NYSE:BAX)

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