Oppenheimer Reaffirms Buy Rating for Baxter International (NYSE:BAX)

Oppenheimer reissued their buy rating on shares of Baxter International (NYSE:BAX) in a report released on Thursday morning, AnalystRatings.com reports.

Other equities research analysts have also recently issued research reports about the stock. Raymond James lifted their price objective on shares of Baxter International from $90.00 to $97.00 and gave the company an outperform rating in a research report on Monday, April 13th. Credit Suisse Group boosted their price target on shares of Baxter International from $97.00 to $99.00 and gave the stock an outperform rating in a research note on Friday, May 1st. TheStreet raised shares of Baxter International from a c+ rating to a b+ rating in a report on Thursday, April 30th. Barclays reaffirmed a hold rating and issued a $84.00 target price on shares of Baxter International in a report on Tuesday, April 14th. Finally, JPMorgan Chase & Co. boosted their target price on Baxter International from $94.00 to $96.00 and gave the stock an overweight rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $96.72.

Shares of BAX opened at $86.38 on Thursday. The business’s fifty day simple moving average is $86.00 and its two-hundred day simple moving average is $86.95. Baxter International has a 12 month low of $69.10 and a 12 month high of $95.19. The company has a market cap of $43.81 billion, a price-to-earnings ratio of 26.10, a P/E/G ratio of 2.76 and a beta of 0.84. The company has a current ratio of 2.74, a quick ratio of 2.19 and a debt-to-equity ratio of 0.84.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.07). The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Baxter International had a return on equity of 21.02% and a net margin of 8.10%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 EPS. As a group, research analysts forecast that Baxter International will post 3.07 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a dividend of $0.245 per share. The ex-dividend date is Friday, August 28th. This represents a $0.98 annualized dividend and a yield of 1.13%. Baxter International’s payout ratio is 29.61%.

In other Baxter International news, SVP Andrew Frye sold 3,742 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $91.00, for a total value of $340,522.00. Following the transaction, the senior vice president now owns 16,216 shares of the company’s stock, valued at approximately $1,475,656. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 owns 35,398 shares in the company, valued at approximately $2,936,264.10. The disclosure for this sale can be found here. In the last three months, insiders sold 77,583 shares of company stock valued at $6,613,932. 0.13% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Campbell Wealth Management bought a new stake in Baxter International during the 2nd quarter valued at about $26,000. Allworth Financial LP raised its stake in shares of Baxter International by 118.9% during the second quarter. Allworth Financial LP now owns 313 shares of the medical instruments supplier’s stock valued at $27,000 after acquiring an additional 170 shares in the last quarter. Financial Management Professionals Inc. purchased a new position in Baxter International during the 2nd quarter worth $28,000. Creative Financial Designs Inc. ADV bought a new stake in Baxter International during the 2nd quarter valued at $30,000. Finally, Harwood Advisory Group LLC purchased a new stake in shares of Baxter International in the 1st quarter worth $32,000. Hedge funds and other institutional investors own 83.74% of the company’s stock.

About Baxter International

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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