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Standpoint Research Starts Baxter International (BAX) at Buy; Significant Player in Pelvic Inflammatory Disease Arena

January 5, 2012 10:04 AM EST
Get Alerts BAX Hot Sheet
Price: $42.74 +0.12%

Rating Summary:
    14 Buy, 13 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Standpoint Research initiates coverage on Baxter International (NYSE: BAX) with a Buy. PT $59.00.

Analyst, Ronnie Moas, said, "Investors have distanced themselves from many healthcare companies on fear of government cutbacks here and overseas. In Europe the concerns are greater and BAX does have exposure there with more than half of its revenues coming from outside the United States. That being said, the shares are trading at its 2000 level adjusted for inflation and the concerns appear to be priced in at this time...BAX recently received FDA approval for Gammagard -- this will position Baxter as a significant player in the pelvic inflammatory disease arena where growth is being forecast. Additionally, hemophilia treatments are showing positive trial results, should pass through Phase III and be approved some time this year."

"There were share repurchases in 2011 that amounted to 4% of the shares outstanding. BAX market capitalization is at $28 bln. That is # 2 out of the 38 names we follow in the industry, behind Medtronic (NYSE: MDT). We actually downgraded MDT from Buy to Hold on December 5 and are in effect replacing MDT on our list of open recommendations with BAX from the same industry."

For an analyst ratings summary and ratings history on Baxter International click here. For more ratings news on Baxter International click here.

Shares of Baxter International closed at $49.66 yesterday.


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