Baxter International (NYSE:BAX) Given New $90.00 Price Target at Morgan Stanley

Baxter International (NYSE:BAX) had its price objective reduced by Morgan Stanley from $95.00 to $90.00 in a report released on Friday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the medical instruments supplier’s stock.

A number of other research analysts have also recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Baxter International from $90.00 to $100.00 and gave the company an overweight rating in a research note on Thursday, April 30th. Oppenheimer reiterated a buy rating on shares of Baxter International in a research note on Thursday. TheStreet raised Baxter International from a c+ rating to a b+ rating in a report on Thursday, April 30th. SVB Leerink raised their price objective on Baxter International from $96.00 to $105.00 and gave the company an outperform rating in a research note on Friday, May 1st. Finally, Credit Suisse Group boosted their target price on Baxter International from $97.00 to $99.00 and gave the stock an outperform rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the stock. Baxter International currently has an average rating of Buy and an average price target of $96.72.

Shares of NYSE:BAX traded up $0.37 on Friday, reaching $86.38. 4,038,182 shares of the company’s stock were exchanged, compared to its average volume of 2,544,913. Baxter International has a twelve month low of $69.10 and a twelve month high of $95.19. The company has a fifty day moving average of $86.00 and a 200-day moving average of $86.95. The company has a market capitalization of $43.81 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.75 and a beta of 0.84. The company has a current ratio of 2.74, a quick ratio of 2.19 and a debt-to-equity ratio of 0.84.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.07). The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.86 billion. Baxter International had a net margin of 8.10% and a return on equity of 21.02%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share. As a group, equities research analysts forecast that Baxter International will post 3.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a $0.245 dividend. The ex-dividend date is Friday, August 28th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.13%. Baxter International’s dividend payout ratio (DPR) is currently 29.61%.

In other Baxter International news, Director John D. Forsyth sold 1,500 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $82.95, for a total transaction of $124,425.00. Following the completion of the sale, the director now directly owns 35,398 shares in the company, valued at approximately $2,936,264.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Giuseppe Accogli sold 72,341 shares of Baxter International stock in a transaction dated Friday, June 19th. The stock was sold at an average price of $85.00, for a total value of $6,148,985.00. Following the completion of the transaction, the senior vice president now directly owns 76,473 shares of the company’s stock, valued at $6,500,205. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,583 shares of company stock worth $6,613,932. Insiders own 0.13% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pennsylvania Trust Co lifted its stake in Baxter International by 1.3% in the first quarter. Pennsylvania Trust Co now owns 8,512 shares of the medical instruments supplier’s stock valued at $691,000 after buying an additional 110 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake in shares of Baxter International by 0.8% in the 2nd quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 15,147 shares of the medical instruments supplier’s stock valued at $1,304,000 after acquiring an additional 115 shares in the last quarter. Kistler Tiffany Companies LLC lifted its position in shares of Baxter International by 13.5% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 973 shares of the medical instruments supplier’s stock valued at $84,000 after acquiring an additional 116 shares during the period. Trust Co. of Toledo NA OH boosted its stake in Baxter International by 0.3% during the first quarter. Trust Co. of Toledo NA OH now owns 36,249 shares of the medical instruments supplier’s stock worth $2,943,000 after acquiring an additional 120 shares in the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV grew its holdings in Baxter International by 3.2% in the second quarter. Acorn Financial Advisory Services Inc. ADV now owns 4,431 shares of the medical instruments supplier’s stock worth $382,000 after purchasing an additional 138 shares during the period. 83.74% of the stock is owned by institutional investors and hedge funds.

Baxter International Company Profile

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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