Baxter International (NYSE:BAX) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of Baxter International (NYSE:BAX) from a hold rating to a buy rating in a report published on Tuesday.

BAX has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their price objective on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Citigroup increased their price target on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Evercore ISI lowered their target price on Baxter International from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. The Goldman Sachs Group lifted their price target on shares of Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Baxter International currently has an average rating of “Hold” and an average price target of $41.20.

Baxter International Price Performance

BAX opened at $36.72 on Tuesday. The company has a fifty day moving average price of $37.66 and a two-hundred day moving average price of $36.50. The firm has a market capitalization of $18.71 billion, a PE ratio of 7.06, a P/E/G ratio of 1.28 and a beta of 0.59. Baxter International has a 52 week low of $31.75 and a 52 week high of $44.01. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the firm earned $0.55 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, analysts anticipate that Baxter International will post 2.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. First PREMIER Bank acquired a new position in shares of Baxter International during the 3rd quarter worth about $25,000. Innealta Capital LLC acquired a new position in Baxter International during the second quarter valued at approximately $27,000. LRI Investments LLC bought a new position in Baxter International in the first quarter valued at approximately $39,000. Versant Capital Management Inc increased its position in shares of Baxter International by 974.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock worth $45,000 after purchasing an additional 1,208 shares during the last quarter. Finally, Cromwell Holdings LLC bought a new stake in shares of Baxter International during the 3rd quarter worth approximately $62,000. Institutional investors own 90.19% of the company’s stock.

About Baxter International

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.