Baxter International Inc. (NYSE:BAX) has been given a consensus rating of "Hold" by the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $90.75.
A number of equities research analysts recently weighed in on BAX shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on Baxter International from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Friday, April 30th. Citigroup boosted their price target on Baxter International from $94.00 to $98.00 in a report on Friday, April 30th. Piper Sandler boosted their target price on shares of Baxter International from $80.00 to $85.00 and gave the stock an "in-line" rating in a report on Thursday, April 29th. Barclays assumed coverage on shares of Baxter International in a research note on Monday, May 24th. They set an "equal weight" rating and a $93.00 price target for the company. Finally, Oppenheimer reissued a "buy" rating on shares of Baxter International in a research note on Thursday, March 18th.
In other news, Director Albert P. L. Stroucken sold 4,990 shares of the business's stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $84.56, for a total transaction of $421,954.40. Following the completion of the sale, the director now owns 36,886 shares in the company, valued at $3,119,080.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Andrew Frye sold 10,999 shares of the company's stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $84.79, for a total value of $932,605.21. Following the transaction, the senior vice president now directly owns 9,041 shares in the company, valued at $766,586.39. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in BAX. Caisse DE Depot ET Placement DU Quebec increased its holdings in Baxter International by 3.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,164,063 shares of the medical instruments supplier's stock worth $655,084,000 after purchasing an additional 289,794 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Baxter International by 1.0% during the 1st quarter. Geode Capital Management LLC now owns 7,277,047 shares of the medical instruments supplier's stock worth $611,791,000 after acquiring an additional 74,367 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Baxter International by 1.4% in the fourth quarter. Bank of New York Mellon Corp now owns 4,430,532 shares of the medical instruments supplier's stock valued at $355,504,000 after purchasing an additional 61,090 shares during the last quarter. Putnam Investments LLC lifted its position in shares of Baxter International by 3.1% during the first quarter. Putnam Investments LLC now owns 3,226,055 shares of the medical instruments supplier's stock valued at $272,085,000 after purchasing an additional 97,826 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of Baxter International by 9.8% during the first quarter. New York State Common Retirement Fund now owns 2,750,786 shares of the medical instruments supplier's stock valued at $232,001,000 after purchasing an additional 245,223 shares in the last quarter. Institutional investors and hedge funds own 85.26% of the company's stock.
Shares of NYSE BAX opened at $81.33 on Wednesday. The firm has a market capitalization of $40.90 billion, a P/E ratio of 39.10, a price-to-earnings-growth ratio of 2.53 and a beta of 0.68. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.83 and a current ratio of 2.46. Baxter International has a 12 month low of $74.79 and a 12 month high of $91.45. The business's 50-day simple moving average is $83.99.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Wednesday, April 28th. The medical instruments supplier reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.64 by $0.12. The business had revenue of $2.95 billion during the quarter, compared to analysts' expectations of $2.89 billion. Baxter International had a net margin of 9.04% and a return on equity of 18.34%. The firm's quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. As a group, equities research analysts forecast that Baxter International will post 3.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 4th will be issued a $0.28 dividend. This is an increase from Baxter International's previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend is Thursday, June 3rd. Baxter International's payout ratio is presently 36.25%.
Baxter International Company Profile
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; 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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