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.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07). The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.86 billion. Baxter International had a net margin of 8.10% and a return on equity of 21.02%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 earnings per share. On average, sell-side analysts anticipate that Baxter International will post 3.07 earnings per share for the current fiscal year.

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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Analyst Recommendations for Baxter International (NYSE:BAX)

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