Baxter International (NYSE:BAX) Coverage Initiated at KeyCorp

KeyCorp began coverage on shares of Baxter International (NYSE:BAX) in a research note released on Tuesday, June 25th, BenzingaRatingsTable reports. The firm issued a sector weight rating on the medical instruments supplier’s stock. KeyCorp also issued estimates for Baxter International’s Q2 2019 earnings at $0.81 EPS, Q3 2019 earnings at $0.86 EPS, Q4 2019 earnings at $0.90 EPS, FY2019 earnings at $3.33 EPS and FY2020 earnings at $3.72 EPS.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. lifted their target price on Vermilion Energy from C$42.00 to C$43.00 in a research report on Monday, May 13th. Cowen set a $75.00 target price on Baxter International and gave the company a hold rating in a research note on Monday, April 22nd. Zacks Investment Research downgraded Gold Resource from a hold rating to a sell rating in a research note on Friday, June 21st. Barclays lifted their price target on Zimmer Biomet from $113.00 to $117.00 and gave the company an underweight rating in a report on Monday, April 15th. Finally, Wells Fargo & Co boosted their target price on Exxon Mobil from $76.00 to $80.00 and gave the company a market perform rating in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Baxter International presently has an average rating of Buy and an average price target of $79.20.

Shares of Baxter International stock traded up $0.43 during trading hours on Tuesday, hitting $83.08. 3,391,162 shares of the company were exchanged, compared to its average volume of 2,794,107. The firm has a 50-day simple moving average of $79.67. The firm has a market capitalization of $42.06 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 1.93 and a beta of 0.99. The company has a quick ratio of 1.30, a current ratio of 1.83 and a debt-to-equity ratio of 0.50. Baxter International has a 1 year low of $61.05 and a 1 year high of $83.93.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.08. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. Baxter International had a return on equity of 20.04% and a net margin of 14.27%. Baxter International’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, research analysts predict that Baxter International will post 3.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.06%. Baxter International’s dividend payout ratio is currently 28.85%.

In other news, insider Third Point Llc sold 5,000,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $76.37, for a total value of $381,850,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jacqueline Kunzler sold 593 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $80.46, for a total value of $47,712.78. Following the completion of the sale, the senior vice president now owns 9,023 shares in the company, valued at $725,990.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,002,913 shares of company stock worth $382,077,150. Corporate insiders own 0.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Baxter International by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,205,779 shares of the medical instruments supplier’s stock valued at $79,362,000 after purchasing an additional 17,633 shares in the last quarter. Archford Capital Strategies LLC raised its stake in shares of Baxter International by 60.0% in the first quarter. Archford Capital Strategies LLC now owns 800 shares of the medical instruments supplier’s stock valued at $65,000 after acquiring an additional 300 shares during the period. Round Table Services LLC grew its holdings in shares of Baxter International by 19.9% in the first quarter. Round Table Services LLC now owns 4,015 shares of the medical instruments supplier’s stock worth $326,000 after purchasing an additional 666 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Baxter International by 17.8% in the first quarter. Diversified Trust Co now owns 42,508 shares of the medical instruments supplier’s stock worth $3,456,000 after purchasing an additional 6,420 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Baxter International by 1.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 43,919 shares of the medical instruments supplier’s stock worth $3,572,000 after purchasing an additional 632 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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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