Baxter International (BAX) Lifted to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Baxter International (NYSE:BAX) from a neutral rating to an overweight rating in a research report report published on Tuesday, Marketbeat reports.

BAX has been the topic of a number of other reports. Zacks Investment Research cut Baxter International from a buy rating to a hold rating in a report on Tuesday, December 26th. Morgan Stanley lifted their target price on Baxter International from $59.00 to $62.00 and gave the stock an equal weight rating in a report on Thursday, October 26th. Bank of America reaffirmed a hold rating on shares of Baxter International in a report on Wednesday, November 22nd. Barclays lifted their target price on Baxter International from $70.00 to $73.00 and gave the stock an overweight rating in a report on Thursday, October 26th. Finally, BMO Capital Markets reaffirmed a buy rating and issued a $70.00 target price on shares of Baxter International in a report on Friday, October 13th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $68.64.

Shares of Baxter International (BAX) opened at $69.18 on Tuesday. The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $37,690.00, a PE ratio of 37.39, a price-to-earnings-growth ratio of 2.05 and a beta of 0.69. Baxter International has a twelve month low of $44.56 and a twelve month high of $69.35.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.56 earnings per share. equities research analysts predict that Baxter International will post 2.43 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were given a $0.16 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.64 annualized dividend and a yield of 0.93%. Baxter International’s dividend payout ratio is currently 34.59%.

In related news, SVP Giuseppe Accogli sold 28,641 shares of Baxter International stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total value of $1,918,947.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Third Point Llc sold 5,000,000 shares of Baxter International stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $64.23, for a total value of $321,150,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,061,991 shares of company stock valued at $325,245,035. 0.05% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC boosted its position in shares of Baxter International by 71.1% during the second quarter. Parametric Portfolio Associates LLC now owns 1,632,846 shares of the medical instruments supplier’s stock valued at $98,852,000 after buying an additional 678,429 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Baxter International by 35.8% during the third quarter. Canada Pension Plan Investment Board now owns 1,413,054 shares of the medical instruments supplier’s stock valued at $88,669,000 after buying an additional 372,500 shares during the period. New York State Common Retirement Fund boosted its position in shares of Baxter International by 19.0% during the second quarter. New York State Common Retirement Fund now owns 1,830,523 shares of the medical instruments supplier’s stock valued at $110,820,000 after buying an additional 291,752 shares during the period. Segall Bryant & Hamill LLC boosted its position in shares of Baxter International by 209.0% during the third quarter. Segall Bryant & Hamill LLC now owns 412,054 shares of the medical instruments supplier’s stock valued at $25,856,000 after buying an additional 278,685 shares during the period. Finally, Martingale Asset Management L P boosted its position in shares of Baxter International by 78.8% during the second quarter. Martingale Asset Management L P now owns 631,892 shares of the medical instruments supplier’s stock valued at $38,256,000 after buying an additional 278,538 shares during the period. Institutional investors own 83.78% of the company’s stock.

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About Baxter International

Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.

Analyst Recommendations for Baxter International (NYSE:BAX)

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