Wells Fargo & Co Cuts Baxter International (BAX) Price Target to $72.00

Baxter International (NYSE:BAX) had its price objective decreased by Wells Fargo & Co from $82.00 to $72.00 in a research report released on Thursday, The Fly reports. Wells Fargo & Co currently has an outperform rating on the medical instruments supplier’s stock.

A number of other brokerages have also commented on BAX. Zacks Investment Research upgraded shares of Baxter International from a hold rating to a buy rating and set a $87.00 price target for the company in a research note on Tuesday, September 25th. Argus reiterated a hold rating on shares of Baxter International in a research note on Tuesday, September 4th. JPMorgan Chase & Co. lifted their price target on shares of Baxter International from $80.00 to $85.00 and gave the stock an overweight rating in a research note on Friday, July 27th. Royal Bank of Canada reiterated a hold rating and issued a $76.00 price target on shares of Baxter International in a research note on Friday, July 27th. Finally, Piper Jaffray Companies lifted their price target on shares of Baxter International from $77.00 to $83.00 and gave the stock an overweight rating in a research note on Friday, July 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. Baxter International has a consensus rating of Buy and a consensus price target of $76.19.

NYSE:BAX traded down $0.89 on Thursday, reaching $62.18. 4,036,961 shares of the stock traded hands, compared to its average volume of 4,188,330. The firm has a market cap of $33.22 billion, a P/E ratio of 21.37, a P/E/G ratio of 1.68 and a beta of 1.02. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.00 and a current ratio of 2.62. Baxter International has a 12 month low of $61.05 and a 12 month high of $78.38.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. Baxter International had a net margin of 10.90% and a return on equity of 17.72%. The firm had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.79 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts predict that Baxter International will post 2.99 EPS for the current year.

In related news, SVP Giuseppe Accogli sold 17,647 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.27, for a total value of $1,363,583.69. Following the transaction, the senior vice president now owns 59,452 shares of the company’s stock, valued at $4,593,856.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carole J. Shapazian sold 5,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $72.97, for a total transaction of $394,038.00. Following the completion of the transaction, the director now directly owns 15,248 shares in the company, valued at approximately $1,112,646.56. The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Private Trust Co. NA lifted its holdings in Baxter International by 6.3% during the third quarter. Private Trust Co. NA now owns 11,572 shares of the medical instruments supplier’s stock valued at $892,000 after purchasing an additional 690 shares in the last quarter. BKD Wealth Advisors LLC lifted its holdings in Baxter International by 1.8% during the second quarter. BKD Wealth Advisors LLC now owns 41,331 shares of the medical instruments supplier’s stock valued at $3,052,000 after purchasing an additional 732 shares in the last quarter. FineMark National Bank & Trust lifted its holdings in Baxter International by 6.0% during the second quarter. FineMark National Bank & Trust now owns 13,239 shares of the medical instruments supplier’s stock valued at $978,000 after purchasing an additional 753 shares in the last quarter. Cpwm LLC lifted its holdings in Baxter International by 22.8% during the second quarter. Cpwm LLC now owns 4,230 shares of the medical instruments supplier’s stock valued at $312,000 after purchasing an additional 784 shares in the last quarter. Finally, Knowledge Leaders Capital LLC lifted its holdings in Baxter International by 1.0% during the second quarter. Knowledge Leaders Capital LLC now owns 79,384 shares of the medical instruments supplier’s stock valued at $5,862,000 after purchasing an additional 786 shares in the last quarter. 83.08% of the stock is currently owned by institutional investors.

About Baxter International

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.

Recommended Story: What are the economic characteristics of a bear market?

The Fly

Analyst Recommendations for Baxter International (NYSE:BAX)

Receive News & Ratings for Baxter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply