Baxter International (NYSE:BAX) Price Target Cut to $95.00 by Analysts at Raymond James

Baxter International (NYSE:BAX) had its price objective cut by Raymond James from $97.00 to $95.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. They currently have an outperform rating on the medical instruments supplier’s stock.

BAX has been the subject of several other research reports. Credit Suisse Group lifted their price target on shares of Baxter International from $97.00 to $99.00 and gave the company an outperform rating in a research note on Friday, May 1st. KeyCorp upped their target price on Baxter International from $92.00 to $98.00 and gave the stock an overweight rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on Baxter International from $94.00 to $96.00 and gave the company an overweight rating in a research note on Tuesday, April 28th. Oppenheimer reiterated a buy rating on shares of Baxter International in a report on Thursday. Finally, SVB Leerink upped their price target on shares of Baxter International from $96.00 to $105.00 and gave the stock an outperform rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. Baxter International currently has an average rating of Buy and an average target price of $96.72.

BAX stock traded up $0.37 during midday trading on Friday, reaching $86.38. 4,038,182 shares of the company traded hands, compared to its average volume of 2,544,913. The firm has a market capitalization of $43.81 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 2.75 and a beta of 0.84. Baxter International has a 52-week low of $69.10 and a 52-week high of $95.19. The business has a 50 day moving average of $86.00 and a 200-day moving average of $86.95. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.19 and a current ratio of 2.74.

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 analysts’ consensus estimates of $0.71 by ($0.07). Baxter International had a return on equity of 21.02% and a net margin of 8.10%. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. Research analysts anticipate that Baxter International will post 3.05 earnings per share for the current year.

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

In other Baxter International news, SVP Andrew Frye sold 3,742 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $91.00, for a total value of $340,522.00. Following the completion of the transaction, the senior vice president now owns 16,216 shares in the company, valued at $1,475,656. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the director now directly owns 35,398 shares in the company, valued at $2,936,264.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,583 shares of company stock valued at $6,613,932. Insiders own 0.13% of the company’s stock.

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

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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