Baxter International Inc. (NYSE:BAX) Receives Average Rating of “Buy” from Brokerages

Posted by on Jun 8th, 2022

Baxter International Inc. (NYSE:BAX – Get Rating) has been assigned an average recommendation of “Buy” from the seventeen analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $89.92.

A number of equities research analysts recently issued reports on BAX shares. Morgan Stanley dropped their target price on Baxter International from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, May 23rd. The Goldman Sachs Group downgraded Baxter International from a “neutral” rating to a “sell” rating and reduced their price target for the company from $88.00 to $77.00 in a research note on Monday, April 4th. Wells Fargo & Company cut their target price on Baxter International from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Friday, February 18th. Raymond James dropped their price objective on Baxter International from $96.00 to $85.00 in a research report on Friday, April 29th. Finally, Bank of America began coverage on Baxter International in a research note on Tuesday, March 1st. They issued a “buy” rating and a $100.00 price target for the company.

Shares of NYSE:BAX opened at $72.58 on Wednesday. Baxter International has a twelve month low of $69.71 and a twelve month high of $89.70. The firm has a market cap of $36.55 billion, a PE ratio of 34.73, a price-to-earnings-growth ratio of 1.59 and a beta of 0.62. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.45 and a current ratio of 2.10. The business has a fifty day moving average of $74.65 and a 200-day moving average of $80.11.

Baxter International (NYSE:BAX – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The medical instruments supplier reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.13. Baxter International had a return on equity of 21.59% and a net margin of 7.80%. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the business earned $0.76 earnings per share. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, analysts anticipate that Baxter International will post 4.16 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 3rd will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Thursday, June 2nd. This is an increase from Baxter International’s previous quarterly dividend of $0.28. Baxter International’s payout ratio is currently 55.50%.

In other Baxter International news, Director Albert P. L. Stroucken sold 4,020 shares of the company’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $76.02, for a total transaction of $305,600.40. Following the transaction, the director now owns 27,629 shares in the company, valued at approximately $2,100,356.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.21% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. AXA S.A. boosted its position in shares of Baxter International by 633.5% in the 3rd quarter. AXA S.A. now owns 340,462 shares of the medical instruments supplier’s stock worth $27,383,000 after purchasing an additional 294,045 shares in the last quarter. Horizon Investments LLC bought a new position in Baxter International in the 3rd quarter valued at approximately $269,000. KB Financial Partners LLC lifted its position in Baxter International by 15.4% in the 3rd quarter. KB Financial Partners LLC now owns 5,623 shares of the medical instruments supplier’s stock valued at $452,000 after acquiring an additional 749 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in Baxter International by 32.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 250,721 shares of the medical instruments supplier’s stock valued at $20,165,000 after acquiring an additional 61,047 shares in the last quarter. Finally, Liontrust Investment Partners LLP bought a new position in Baxter International in the 3rd quarter valued at approximately $3,511,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Baxter International Company Profile (Get Rating)

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; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

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Analyst Recommendations for Baxter International (NYSE:BAX)

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