Merrill Lynch analyst Bob Hopkins maintained a Buy rating on Baxter International (NYSE: BAX) today and set a price target of $83. The company’s shares opened today at $72.15, close to its 52-week high of $72.58.
According to TipRanks.com, Hopkins is a 4-star analyst with an average return of 11.2% and a 67.9% success rate. Hopkins covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Intuitive Surgical, and Medtronic.
Currently, the analyst consensus on Baxter International is Moderate Buy and the average price target is $74.50, representing a 3.3% upside.
In a report issued on May 17, Piper Jaffray also initiated coverage with a Buy rating on the stock with a $77 price target.
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Based on Baxter International’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.68 billion and net profit of $389 million. In comparison, last year the company earned revenue of $2.48 billion and had a net profit of $272 million.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is neutral on the stock.
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Baxter International, Inc. provides a broad 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 ser
