Baxter International (NYSE:BAX) Given New $54.00 Price Target at Barclays

Baxter International (NYSE:BAXFree Report) had its price objective hoisted by Barclays from $52.00 to $54.00 in a report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the medical instruments supplier’s stock.

Several other equities research analysts have also recently weighed in on BAX. JPMorgan Chase & Co. upped their price target on Baxter International from $38.00 to $44.00 and gave the company a neutral rating in a research report on Friday. Morgan Stanley decreased their price objective on shares of Baxter International from $45.00 to $39.00 and set an equal weight rating on the stock in a research report on Monday, December 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Baxter International from $35.00 to $50.00 and gave the stock a hold rating in a research report on Tuesday, October 24th. StockNews.com upgraded shares of Baxter International from a hold rating to a buy rating in a research report on Friday, January 19th. Finally, UBS Group decreased their price objective on shares of Baxter International from $40.00 to $36.00 and set a neutral rating on the stock in a research report on Tuesday, February 6th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Baxter International presently has an average rating of Hold and a consensus target price of $46.30.

Read Our Latest Research Report on Baxter International

Baxter International Trading Up 2.0 %

Shares of BAX opened at $40.33 on Monday. The business’s 50-day moving average price is $38.69 and its 200-day moving average price is $38.03. Baxter International has a twelve month low of $31.01 and a twelve month high of $50.21. The stock has a market cap of $20.48 billion, a PE ratio of 7.73, a P/E/G ratio of 2.63 and a beta of 0.61. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAXGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.02. Baxter International had a return on equity of 19.49% and a net margin of 17.77%. The firm had revenue of $3.89 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The company’s revenue was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Baxter International will post 2.89 EPS for the current fiscal year.

Baxter International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.88%. Baxter International’s dividend payout ratio is currently 22.22%.

Institutional Trading of Baxter International

A number of institutional investors have recently made changes to their positions in BAX. Pzena Investment Management LLC purchased a new stake in shares of Baxter International during the third quarter valued at approximately $215,935,000. Carmignac Gestion boosted its stake in shares of Baxter International by 467.0% during the third quarter. Carmignac Gestion now owns 4,848,773 shares of the medical instruments supplier’s stock valued at $182,992,000 after purchasing an additional 3,993,537 shares during the period. Shapiro Capital Management LLC purchased a new stake in shares of Baxter International during the third quarter valued at approximately $114,307,000. Bank of New York Mellon Corp boosted its stake in shares of Baxter International by 69.0% during the third quarter. Bank of New York Mellon Corp now owns 6,491,343 shares of the medical instruments supplier’s stock valued at $244,983,000 after purchasing an additional 2,650,959 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Baxter International by 18.5% during the second quarter. Geode Capital Management LLC now owns 10,629,326 shares of the medical instruments supplier’s stock valued at $482,991,000 after purchasing an additional 1,658,160 shares during the period. Hedge funds and other institutional investors own 85.47% of the company’s stock.

About Baxter International

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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; premixed 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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