Morgan Stanley Increases Baxter International (BAX) Price Target to $83.00

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Baxter International (NYSE:BAX) had its price target upped by investment analysts at Morgan Stanley from $80.00 to $83.00 in a report issued on Tuesday, MarketBeat reports. The firm currently has an “overweight” rating on the medical instruments supplier’s stock. Morgan Stanley’s target price indicates a potential upside of 11.07% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut Baxter International from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Citigroup raised Baxter International from a “neutral” rating to a “buy” rating and raised their price target for the company from $69.00 to $76.00 in a report on Wednesday, January 2nd. Credit Suisse Group began coverage on Baxter International in a report on Monday, December 17th. They set an “outperform” rating and a $77.00 price target for the company. Royal Bank of Canada dropped their price target on Baxter International from $76.00 to $70.00 and set a “sector perform” rating for the company in a report on Thursday, November 8th. Finally, Barclays raised Baxter International from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $67.00 to $72.00 in a report on Friday, February 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $76.56.

Baxter International stock opened at $74.73 on Tuesday. The company has a quick ratio of 1.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $40.16 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 1.87 and a beta of 0.99. Baxter International has a 12 month low of $61.05 and a 12 month high of $78.38.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, January 31st. The medical instruments supplier reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.05. Baxter International had a return on equity of 18.46% and a net margin of 14.60%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.80 billion. As a group, analysts expect that Baxter International will post 3.27 earnings per share for the current fiscal year.

Baxter International declared that its Board of Directors has approved a share buyback plan on Tuesday, November 13th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the medical instruments supplier to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

In other news, Director Thomas T. Stallkamp sold 1,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $75.16, for a total value of $75,160.00. Following the transaction, the director now directly owns 6,780 shares in the company, valued at approximately $509,584.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas T. Stallkamp sold 3,187 shares of the firm’s stock in a transaction on Friday, January 18th. The stock was sold at an average price of $70.00, for a total value of $223,090.00. Following the completion of the transaction, the director now owns 9,418 shares in the company, valued at $659,260. The disclosure for this sale can be found here. Insiders sold a total of 44,599 shares of company stock worth $3,203,311 over the last quarter. Corporate insiders own 0.07% of the company’s stock.

Several large investors have recently bought and sold shares of BAX. Massachusetts Financial Services Co. MA boosted its position in shares of Baxter International by 790.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 39,815 shares of the medical instruments supplier’s stock worth $3,069,000 after purchasing an additional 35,343 shares during the last quarter. First Trust Advisors LP raised its stake in Baxter International by 142.2% during the 3rd quarter. First Trust Advisors LP now owns 275,323 shares of the medical instruments supplier’s stock worth $21,225,000 after buying an additional 161,657 shares during the period. Commerce Bank raised its stake in Baxter International by 2.3% during the 3rd quarter. Commerce Bank now owns 60,768 shares of the medical instruments supplier’s stock worth $4,685,000 after buying an additional 1,354 shares during the period. WESPAC Advisors LLC acquired a new stake in Baxter International during the 3rd quarter worth $248,000. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Baxter International by 4.7% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 24,612 shares of the medical instruments supplier’s stock worth $1,897,000 after buying an additional 1,106 shares during the period. Institutional investors and hedge funds own 81.58% 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.

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Analyst Recommendations for Baxter International (NYSE:BAX)

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