Baxter International (NYSE:BAX) PT Lowered to $45.00

Baxter International (NYSE:BAX) had its target price dropped by Evercore ISI from $46.00 to $45.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the medical instruments supplier’s stock. Evercore ISI’s price target would suggest a potential upside of 35.87% from the stock’s previous close.

A number of other equities analysts also recently weighed in on BAX. TD Cowen downgraded shares of Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Friday, May 10th. Bank of America increased their target price on shares of Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. The Goldman Sachs Group initiated coverage on shares of Baxter International in a report on Thursday, May 30th. They issued a “neutral” rating and a $36.00 price target on the stock. Finally, Citigroup reduced their price objective on Baxter International from $44.00 to $38.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Baxter International has an average rating of “Hold” and an average target price of $44.46.

Baxter International Trading Up 0.8 %

NYSE:BAX opened at $33.12 on Tuesday. Baxter International has a 52 week low of $31.01 and a 52 week high of $50.21. The firm has a 50-day moving average price of $35.03 and a two-hundred day moving average price of $38.62. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48. The firm has a market cap of $16.88 billion, a price-to-earnings ratio of 6.37, a price-to-earnings-growth ratio of 1.74 and a beta of 0.57.

Baxter International (NYSE:BAX) last released its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.04. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.55 billion. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. Baxter International’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. On average, equities analysts expect that Baxter International will post 2.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BAX. Ameriprise Financial Inc. lifted its position in Baxter International by 11.3% during the third quarter. Ameriprise Financial Inc. now owns 10,836,563 shares of the medical instruments supplier’s stock valued at $408,992,000 after purchasing an additional 1,098,787 shares during the last quarter. Carmignac Gestion grew its position in Baxter International by 9.5% in the fourth quarter. Carmignac Gestion now owns 5,311,012 shares of the medical instruments supplier’s stock worth $205,324,000 after acquiring an additional 462,239 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Baxter International by 7.6% in the first quarter. Russell Investments Group Ltd. now owns 1,206,242 shares of the medical instruments supplier’s stock valued at $51,553,000 after acquiring an additional 84,808 shares during the last quarter. Impax Asset Management Group plc raised its position in Baxter International by 46.8% during the fourth quarter. Impax Asset Management Group plc now owns 1,170,655 shares of the medical instruments supplier’s stock valued at $45,258,000 after purchasing an additional 373,409 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in Baxter International by 9.2% during the fourth quarter. New York State Common Retirement Fund now owns 906,732 shares of the medical instruments supplier’s stock worth $35,054,000 after purchasing an additional 76,013 shares during the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.