Shares of Baxter International (NYSE:BAX) have been assigned an average rating of “Buy” from the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $73.13.
A number of research firms recently weighed in on BAX. Citigroup boosted their price target on shares of Baxter International from $66.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Stifel Nicolaus boosted their price target on shares of Baxter International from $71.00 to $72.00 and gave the stock a “hold” rating in a research report on Monday, April 30th. Barclays boosted their price target on shares of Baxter International from $73.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research report on Wednesday, April 11th. Finally, Deutsche Bank upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, February 20th.
Baxter International opened at $72.42 on Thursday, according to Marketbeat Ratings. The stock has a market cap of $38.41 billion, a P/E ratio of 29.20, a price-to-earnings-growth ratio of 1.85 and a beta of 0.81. Baxter International has a twelve month low of $56.82 and a twelve month high of $72.58. The company has a current ratio of 2.63, a quick ratio of 2.03 and a debt-to-equity ratio of 0.39.
Baxter International declared that its Board of Directors has approved a share repurchase program on Tuesday, February 20th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the medical instruments supplier to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 1st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, May 31st. This is an increase from Baxter International’s previous quarterly dividend of $0.16. This represents a $0.76 dividend on an annualized basis and a yield of 1.05%. Baxter International’s payout ratio is 25.81%.
In other Baxter International news, SVP Brik V. Eyre sold 25,000 shares of Baxter International stock in a transaction dated Tuesday, May 22nd. The shares were sold at an average price of $71.96, for a total transaction of $1,799,000.00. Following the transaction, the senior vice president now directly owns 128,777 shares of the company’s stock, valued at $9,266,792.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Gavin III sold 18,750 shares of Baxter International stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $64.56, for a total transaction of $1,210,500.00. Following the transaction, the director now directly owns 36,398 shares in the company, valued at $2,349,854.88. The disclosure for this sale can be found here. Insiders have sold 79,094 shares of company stock worth $5,467,295 over the last ninety days. 0.05% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the business. Winslow Capital Management LLC purchased a new stake in shares of Baxter International in the 4th quarter valued at approximately $178,651,000. HealthCor Management L.P. purchased a new stake in shares of Baxter International in the 4th quarter valued at approximately $111,504,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Baxter International in the 4th quarter valued at approximately $74,517,000. Renaissance Technologies LLC raised its stake in shares of Baxter International by 217.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,486,913 shares of the medical instruments supplier’s stock valued at $96,114,000 after acquiring an additional 1,018,800 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Baxter International by 103.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,652,618 shares of the medical instruments supplier’s stock valued at $107,487,000 after acquiring an additional 841,733 shares during the period. 83.54% of the stock is currently owned by institutional investors.
Baxter International Company Profile
Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It 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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