Morgan Stanley analyst David Lewis maintained a Hold rating on Baxter International (BAX) today and set a price target of $84.00. The company’s shares closed last Friday at $77.26.
According to TipRanks.com, Lewis is a 5-star analyst with an average return of 14.7% and a 67.9% success rate. Lewis covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Zimmer Biomet Holdings, and Intuitive Surgical.
Currently, the analyst consensus on Baxter International is a Strong Buy with an average price target of $94.56.
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Based on Baxter International’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.72 billion and net profit of $246 million. In comparison, last year the company earned revenue of $2.83 billion and had a net profit of $313 million.
Based on the recent corporate insider activity of 62 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BAX in relation to earlier this year.
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Baxter International, Inc. provides 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 services. It operates through the following segment: Americas, Europe, Middle East & Africa and Asia-Pacific. The company was founded by Davis Baxter in 1931 and is headquartered in Deerfield, IL.