Baxter International Inc. (NYSE:BAX)‘s stock had its “hold” rating reaffirmed by Royal Bank Of Canada in a report released on Wednesday. They currently have a $66.00 target price on the medical instruments supplier’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 3.06% from the company’s current price.
Several other equities analysts have also commented on BAX. BidaskClub raised shares of Baxter International from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th. Citigroup Inc. began coverage on shares of Baxter International in a research report on Thursday, August 17th. They issued a “neutral” rating and a $63.00 price objective for the company. Cowen and Company set a $68.00 price objective on shares of Baxter International and gave the company a “hold” rating in a research report on Sunday, October 15th. Zacks Investment Research lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Cantor Fitzgerald set a $70.00 price objective on shares of Baxter International and gave the company a “buy” rating in a research report on Wednesday, July 26th. Seven investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $67.46.
Shares of Baxter International (BAX) traded down $0.21 during trading on Wednesday, hitting $64.04. 1,553,400 shares of the company traded hands, compared to its average volume of 2,680,290. The stock has a market cap of $35,005.45, a price-to-earnings ratio of 26.55, a P/E/G ratio of 2.15 and a beta of 0.68. The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37. Baxter International has a 52-week low of $43.13 and a 52-week high of $65.70.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. Baxter International’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.56 EPS. analysts anticipate that Baxter International will post 2.43 EPS for the current year.
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In other Baxter International news, Director Third Point Llc sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $64.23, for a total transaction of $321,150,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas T. Stallkamp sold 8,920 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $62.28, for a total transaction of $555,537.60. Following the transaction, the director now directly owns 16,263 shares of the company’s stock, valued at $1,012,859.64. The disclosure for this sale can be found here. Insiders have sold a total of 5,018,360 shares of company stock valued at $322,288,552 over the last three months. 0.05% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. increased its holdings in shares of Baxter International by 42,907.2% during the 2nd quarter. Bessemer Group Inc. now owns 4,652,950 shares of the medical instruments supplier’s stock valued at $281,690,000 after purchasing an additional 4,642,131 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in shares of Baxter International by 71.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,632,846 shares of the medical instruments supplier’s stock valued at $98,852,000 after purchasing an additional 678,429 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Baxter International by 35.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,413,054 shares of the medical instruments supplier’s stock valued at $88,669,000 after purchasing an additional 372,500 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Baxter International by 91.0% during the 1st quarter. Bank of Nova Scotia now owns 668,074 shares of the medical instruments supplier’s stock valued at $34,646,000 after purchasing an additional 318,343 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of Baxter International by 19.0% during the 2nd quarter. New York State Common Retirement Fund now owns 1,830,523 shares of the medical instruments supplier’s stock valued at $110,820,000 after purchasing an additional 291,752 shares in the last quarter. 83.49% of the stock is owned by institutional investors.
About Baxter International
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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