Morgan Stanley Lowers Baxter International (BAX) Price Target to $66.00

Baxter International (NYSE:BAX) had its price target lowered by Morgan Stanley from $75.00 to $66.00 in a research report report published on Monday. The brokerage currently has an underweight rating on the medical instruments supplier’s stock.

Other equities analysts have also issued research reports about the stock. Piper Jaffray Companies upped their price target on shares of Baxter International from $77.00 to $83.00 and gave the stock an overweight rating in a research report on Friday, July 27th. Citigroup upped their price target on shares of Baxter International from $74.00 to $76.00 and gave the stock a neutral rating in a research report on Tuesday, July 31st. Zacks Investment Research upgraded shares of Baxter International from a hold rating to a buy rating and set a $87.00 price target for the company in a research report on Tuesday, September 25th. JPMorgan Chase & Co. upped their price target on shares of Baxter International from $80.00 to $85.00 and gave the stock an overweight rating in a research report on Friday, July 27th. Finally, Argus restated a hold rating on shares of Baxter International in a research report on Tuesday, September 4th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $75.25.

Shares of NYSE:BAX opened at $63.87 on Monday. The firm has a market cap of $33.75 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02. Baxter International has a 1-year low of $61.05 and a 1-year high of $78.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.00 and a current ratio of 2.60.

Baxter International (NYSE:BAX) last issued its earnings results on Wednesday, October 31st. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.06. The company had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Baxter International had a net margin of 10.90% and a return on equity of 17.67%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 earnings per share. As a group, equities research analysts anticipate that Baxter International will post 3 EPS for the current year.

In related news, SVP Giuseppe Accogli sold 17,647 shares of the stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $77.27, for a total value of $1,363,583.69. Following the completion of the transaction, the senior vice president now owns 59,452 shares in the company, valued at approximately $4,593,856.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.05% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Private Trust Co. NA grew its position in Baxter International by 6.3% in the 3rd quarter. Private Trust Co. NA now owns 11,572 shares of the medical instruments supplier’s stock valued at $892,000 after buying an additional 690 shares in the last quarter. BKD Wealth Advisors LLC grew its position in Baxter International by 1.8% in the 2nd quarter. BKD Wealth Advisors LLC now owns 41,331 shares of the medical instruments supplier’s stock valued at $3,052,000 after buying an additional 732 shares in the last quarter. FineMark National Bank & Trust grew its position in Baxter International by 6.0% in the 2nd quarter. FineMark National Bank & Trust now owns 13,239 shares of the medical instruments supplier’s stock valued at $978,000 after buying an additional 753 shares in the last quarter. Cpwm LLC grew its position in Baxter International by 22.8% in the 2nd quarter. Cpwm LLC now owns 4,230 shares of the medical instruments supplier’s stock valued at $312,000 after buying an additional 784 shares in the last quarter. Finally, Knowledge Leaders Capital LLC grew its position in Baxter International by 1.0% in the 2nd quarter. Knowledge Leaders Capital LLC now owns 79,384 shares of the medical instruments supplier’s stock valued at $5,862,000 after buying an additional 786 shares in the last quarter. Hedge funds and other institutional investors own 82.28% of the company’s stock.

Baxter International Company Profile

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It 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.

Read More: What is a Fiduciary?

Analyst Recommendations for Baxter International (NYSE:BAX)

Receive News & Ratings for Baxter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply