Trading Report: The Leerink Swann Weighs in on Baxter International Inc.’s FY2017 Earnings (BAX)

The Leerink Swann Weighs in on Baxter International Inc.’s FY2017 Earnings (BAX)

Baxter International Inc. (NYSE:BAX) – Investment analysts at Leerink Swann raised their FY2017 earnings per share estimates for Baxter International in a report issued on Tuesday. Leerink Swann analyst D. Antalffy now anticipates that the brokerage will post earnings of $2.20 per share for the year, up from their prior estimate of $1.95. Leerink Swann also issued estimates for Baxter International’s FY2018 earnings at $2.60 EPS.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.45 by $0.11. The company earned $2.56 billion during the quarter, compared to analyst estimates of $2.67 billion. Baxter International had a net margin of 48.68% and a return on equity of 11.39%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS.

Several other equities research analysts also recently weighed in on BAX. RBC Capital Markets reissued a “sector perform” rating and issued a $55.00 price objective (up from $50.00) on shares of Baxter International in a report on Wednesday. Barclays PLC assumed coverage on Baxter International in a report on Thursday, September 15th. They issued an “overweight” rating and a $52.00 price objective for the company. Evercore ISI reissued a “buy” rating and issued a $56.00 price objective (up from $52.00) on shares of Baxter International in a report on Wednesday. JPMorgan Chase & Co. reissued a “hold” rating and issued a $45.00 price objective on shares of Baxter International in a report on Friday, July 8th. Finally, Royal Bank Of Canada increased their price objective on Baxter International from $47.00 to $50.00 and gave the company a “sector perform” rating in a report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Baxter International currently has an average rating of “Hold” and an average target price of $51.30.

Shares of Baxter International (NYSE:BAX) opened at 47.20 on Friday. Baxter International has a one year low of $34.06 and a one year high of $50.16. The stock has a market cap of $25.67 billion, a price-to-earnings ratio of 5.28 and a beta of 0.71. The company has a 50-day moving average of $47.41 and a 200 day moving average of $46.01.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exxonmobil Investment Management Inc. TX boosted its position in Baxter International by 7.2% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 142,953 shares of the company’s stock valued at $6,464,000 after buying an additional 9,560 shares during the last quarter. Baxter Bros Inc. acquired a new position in Baxter International during the second quarter valued at about $229,000. Stock Yards Bank & Trust Co. acquired a new position in Baxter International during the second quarter valued at about $208,000. BNP Paribas Arbitrage SA boosted its position in Baxter International by 753.5% in the second quarter. BNP Paribas Arbitrage SA now owns 2,281,030 shares of the company’s stock valued at $103,148,000 after buying an additional 2,013,786 shares during the last quarter. Finally, Lebenthal Asset Management LLC acquired a new position in Baxter International during the first quarter valued at about $1,100,000. Hedge funds and other institutional investors own 84.38% of the company’s stock.

Baxter International Company Profile

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