Baxter International Inc. (NYSE:BAX) – Stock analysts at Leerink Swann raised their Q3 2017 EPS estimates for Baxter International in a research report issued on Wednesday. Leerink Swann analyst D. Antalffy now forecasts that the medical instruments supplier will post earnings per share of $0.59 for the quarter, up from their previous estimate of $0.54. Leerink Swann currently has a “Outperform” rating and a $75.00 price target on the stock. Leerink Swann also issued estimates for Baxter International’s Q3 2018 earnings at $0.66 EPS, Q4 2018 earnings at $0.70 EPS and FY2020 earnings at $3.32 EPS.
Baxter International (NYSE:BAX) last released its earnings results on Wednesday, July 26th. The medical instruments supplier reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Baxter International had a net margin of 8.85% and a return on equity of 15.09%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 EPS.
BAX has been the subject of several other research reports. Zacks Investment Research raised Baxter International from a “hold” rating to a “strong-buy” rating and set a $64.00 price objective for the company in a report on Monday, May 1st. Morgan Stanley lifted their price objective on Baxter International from $48.00 to $52.00 and gave the stock an “underweight” rating in a report on Friday, April 28th. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and set a $71.00 price target on shares of Baxter International in a report on Tuesday, May 16th. UBS AG boosted their price target on Baxter International from $57.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, July 28th. Finally, Barclays PLC boosted their price target on Baxter International from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $65.33.
Baxter International (NYSE BAX) opened at 60.71 on Monday. The company’s 50-day moving average is $60.72 and its 200 day moving average is $54.77. Baxter International has a 1-year low of $43.13 and a 1-year high of $63.14. The firm has a market capitalization of $33.01 billion, a PE ratio of 36.84 and a beta of 0.66.
A number of large investors have recently modified their holdings of BAX. Canada Pension Plan Investment Board increased its stake in shares of Baxter International by 16.1% in the second quarter. Canada Pension Plan Investment Board now owns 1,040,554 shares of the medical instruments supplier’s stock worth $62,995,000 after buying an additional 144,400 shares during the period. Cigna Investments Inc. New increased its stake in shares of Baxter International by 8.7% in the second quarter. Cigna Investments Inc. New now owns 21,494 shares of the medical instruments supplier’s stock worth $1,305,000 after buying an additional 1,723 shares during the period. BP PLC increased its stake in shares of Baxter International by 118.8% in the second quarter. BP PLC now owns 151,000 shares of the medical instruments supplier’s stock worth $9,140,000 after buying an additional 82,000 shares during the period. Advisor Partners LLC increased its stake in shares of Baxter International by 21.5% in the second quarter. Advisor Partners LLC now owns 13,574 shares of the medical instruments supplier’s stock worth $822,000 after buying an additional 2,398 shares during the period. Finally, Baker Ellis Asset Management LLC bought a new stake in shares of Baxter International during the second quarter worth about $109,000. Institutional investors and hedge funds own 84.21% of the company’s stock.
In other Baxter International news, Director Carole J. Shapazian sold 3,760 shares of the company’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $55.89, for a total transaction of $210,146.40. Following the sale, the director now directly owns 16,226 shares in the company, valued at $906,871.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Carole J. Shapazian sold 2,618 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $57.92, for a total value of $151,634.56. Following the sale, the director now owns 9,848 shares in the company, valued at $570,396.16. The disclosure for this sale can be found here. Insiders sold 137,110 shares of company stock worth $7,642,246 over the last quarter. 0.05% of the stock is owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.05%. Baxter International’s dividend payout ratio is currently 38.79%.
Baxter International Company Profile
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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