Raymond James Trims Baxter International (NYSE:BAX) Target Price to $95.00
Baxter International (NYSE:BAX) had its price objective lowered by equities research analysts at Raymond James from $97.00 to $95.00 in a research report issued on Friday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the medical instruments supplier’s stock. Raymond James’ price target points to a potential upside of 9.98% from the company’s current price.
A number of other brokerages have also recently commented on BAX. KeyCorp raised their price target on Baxter International from $92.00 to $98.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Morgan Stanley cut their price target on shares of Baxter International from $95.00 to $90.00 and set an “equal weight” rating for the company in a report on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Baxter International from $94.00 to $96.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Oppenheimer restated a “buy” rating on shares of Baxter International in a research report on Thursday. Finally, Wells Fargo & Co raised their target price on Baxter International from $92.00 to $104.00 and gave the company an “overweight” rating in a report on Monday, April 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $96.72.
Shares of Baxter International stock opened at $86.38 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.74 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $43.81 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 2.76 and a beta of 0.84. Baxter International has a twelve month low of $69.10 and a twelve month high of $95.19. The company has a 50-day simple moving average of $86.00 and a two-hundred day simple moving average of $86.95.
In related news, Director John D. Forsyth sold 1,500 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $82.95, for a total value of $124,425.00. Following the completion of the sale, the director now directly owns 35,398 shares in the company, valued at $2,936,264.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Giuseppe Accogli sold 72,341 shares of the firm’s stock in a transaction on Friday, June 19th. The stock was sold at an average price of $85.00, for a total value of $6,148,985.00. Following the transaction, the senior vice president now directly owns 76,473 shares of the company’s stock, valued at $6,500,205. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,583 shares of company stock valued at $6,613,932. 0.13% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of BAX. Pathway Financial Advisors LLC bought a new position in Baxter International during the 2nd quarter worth approximately $202,000. AXA raised its stake in Baxter International by 11.3% during the first quarter. AXA now owns 264,833 shares of the medical instruments supplier’s stock worth $21,502,000 after buying an additional 26,988 shares during the last quarter. Rock Springs Capital Management LP lifted its holdings in Baxter International by 22.9% in the first quarter. Rock Springs Capital Management LP now owns 645,000 shares of the medical instruments supplier’s stock valued at $52,368,000 after buying an additional 120,000 shares during the period. APG Asset Management N.V. boosted its position in Baxter International by 307.9% during the first quarter. APG Asset Management N.V. now owns 512,605 shares of the medical instruments supplier’s stock valued at $41,618,000 after acquiring an additional 386,934 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV acquired a new stake in Baxter International during the 2nd quarter worth about $30,000. 83.74% of the stock is currently owned by institutional investors.
Baxter International Company Profile
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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