Piper Jaffray Companies Reiterates Buy Rating for Baxter International (NYSE:BAX)

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Piper Jaffray Companies reiterated their buy rating on shares of Baxter International (NYSE:BAX) in a research report report published on Tuesday, TipRanks reports.

Several other research firms also recently issued reports on BAX. Credit Suisse Group lifted their price target on shares of Baxter International from $84.00 to $95.00 and gave the company an outperform rating in a research report on Friday, July 26th. Royal Bank of Canada set a $87.00 price objective on shares of Baxter International and gave the stock a hold rating in a report on Friday, July 26th. Wells Fargo & Co set a $95.00 price objective on shares of Baxter International and gave the company a buy rating in a research note on Friday, July 26th. Barclays set a $82.00 price objective on shares of Baxter International and gave the company a hold rating in a research note on Friday, July 26th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Baxter International from $80.00 to $88.00 and gave the company an overweight rating in a report on Monday, May 13th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Baxter International currently has a consensus rating of Buy and an average price target of $85.27.

Baxter International stock traded up $0.80 during midday trading on Tuesday, reaching $86.71. The stock had a trading volume of 2,522,811 shares, compared to its average volume of 2,681,903. The company has a fifty day moving average price of $86.31 and a two-hundred day moving average price of $80.10. Baxter International has a 12 month low of $61.05 and a 12 month high of $89.93. The company has a current ratio of 2.78, a quick ratio of 2.10 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $44.56 billion, a P/E ratio of 28.43, a PEG ratio of 2.02 and a beta of 1.00.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.08. Baxter International had a return on equity of 21.21% and a net margin of 14.28%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts predict that Baxter International will post 3.37 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, August 29th. Baxter International’s dividend payout ratio (DPR) is presently 28.85%.

In other Baxter International news, Director James R. Gavin III sold 7,950 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $87.63, for a total value of $696,658.50. Following the completion of the sale, the director now owns 40,932 shares in the company, valued at approximately $3,586,871.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John D. Forsyth sold 1,320 shares of Baxter International stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $78.21, for a total transaction of $103,237.20. Following the transaction, the director now directly owns 32,779 shares in the company, valued at approximately $2,563,645.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,797 shares of company stock worth $1,370,513. Company insiders own 0.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in BAX. Advisory Services Network LLC boosted its holdings in shares of Baxter International by 47.0% in the 2nd quarter. Advisory Services Network LLC now owns 3,050 shares of the medical instruments supplier’s stock worth $250,000 after buying an additional 975 shares during the last quarter. Chemical Bank boosted its stake in Baxter International by 2.4% in the second quarter. Chemical Bank now owns 14,808 shares of the medical instruments supplier’s stock valued at $1,213,000 after acquiring an additional 343 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Baxter International by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,205,779 shares of the medical instruments supplier’s stock valued at $79,362,000 after acquiring an additional 17,633 shares during the last quarter. Archford Capital Strategies LLC boosted its stake in Baxter International by 60.0% in the first quarter. Archford Capital Strategies LLC now owns 800 shares of the medical instruments supplier’s stock valued at $65,000 after acquiring an additional 300 shares during the last quarter. Finally, Evolution Wealth Advisors LLC bought a new position in shares of Baxter International during the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.

About Baxter International

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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Analyst Recommendations for Baxter International (NYSE:BAX)

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