Baxter International (NYSE:BAX) Now Covered by Analysts at Raymond James

Analysts at Raymond James started coverage on shares of Baxter International (NYSE:BAX) in a report issued on Tuesday, TipRanks reports. The brokerage set a “buy” rating and a $93.00 price target on the medical instruments supplier’s stock. Raymond James’ target price points to a potential upside of 12.96% from the company’s current price.

BAX has been the subject of several other reports. SVB Leerink restated a “buy” rating on shares of Baxter International in a report on Sunday, September 5th. The Goldman Sachs Group reduced their price objective on Baxter International from $93.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, August 3rd. Piper Sandler reduced their price objective on Baxter International from $85.00 to $82.00 and set a “neutral” rating for the company in a research report on Thursday, July 29th. Stifel Nicolaus reduced their price objective on Baxter International from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, July 29th. Finally, KeyCorp reduced their price target on Baxter International from $94.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, August 2nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Baxter International currently has a consensus rating of “Buy” and a consensus target price of $91.75.

NYSE BAX traded up $0.04 on Tuesday, reaching $82.33. The company had a trading volume of 50,773 shares, compared to its average volume of 2,917,898. The stock’s 50 day moving average is $78.46 and its 200-day moving average is $81.40. The stock has a market cap of $41.16 billion, a price-to-earnings ratio of 37.60, a PEG ratio of 2.29 and a beta of 0.66. The company has a quick ratio of 1.78, a current ratio of 2.39 and a debt-to-equity ratio of 0.67. Baxter International has a 52 week low of $73.12 and a 52 week high of $88.32.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, July 28th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.05. Baxter International had a return on equity of 19.07% and a net margin of 9.18%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.11 billion. As a group, analysts forecast that Baxter International will post 3.53 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAX. Amundi bought a new position in shares of Baxter International during the second quarter worth approximately $163,027,000. Geode Capital Management LLC increased its stake in shares of Baxter International by 6.2% in the 2nd quarter. Geode Capital Management LLC now owns 7,728,860 shares of the medical instruments supplier’s stock valued at $620,185,000 after purchasing an additional 451,813 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Baxter International by 9.8% in the 1st quarter. New York State Common Retirement Fund now owns 2,750,786 shares of the medical instruments supplier’s stock valued at $232,001,000 after purchasing an additional 245,223 shares during the last quarter. Credit Suisse AG boosted its holdings in shares of Baxter International by 37.4% during the 2nd quarter. Credit Suisse AG now owns 813,788 shares of the medical instruments supplier’s stock valued at $66,617,000 after acquiring an additional 221,580 shares in the last quarter. Finally, Amundi Asset Management US Inc. boosted its holdings in shares of Baxter International by 13.0% during the 1st quarter. Amundi Asset Management US Inc. now owns 1,616,225 shares of the medical instruments supplier’s stock valued at $136,313,000 after acquiring an additional 186,142 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

About Baxter International

Baxter International, Inc provides portfolio of essential renal and hospital products, including acute and chronic dialysis, sterile IV solutions, infusion systems and devices, parenteral nutrition therapies; premixed and oncolytic injectable, bio surgery products and anesthetics, drug reconstitution systems and pharmacy automation, software and services.

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Analyst Recommendations for Baxter International (NYSE:BAX)

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