Baxter International Inc. (NYSE:BAX) Receives $41.20 Average PT from Brokerages

Shares of Baxter International Inc. (NYSE:BAX) have been assigned an average rating of “Hold” from the ten research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $41.20.

Several research firms have commented on BAX. Morgan Stanley downgraded Baxter International from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $39.00 to $30.00 in a report on Monday, July 15th. The Goldman Sachs Group increased their price objective on shares of Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Wells Fargo & Company decreased their target price on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. Citigroup increased their price target on shares of Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Finally, StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd.

Institutional Investors Weigh In On Baxter International

Large investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Baxter International by 1.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,139,074 shares of the medical instruments supplier’s stock valued at $43,251,000 after buying an additional 12,773 shares during the period. Entropy Technologies LP increased its position in Baxter International by 213.5% during the third quarter. Entropy Technologies LP now owns 23,192 shares of the medical instruments supplier’s stock valued at $881,000 after acquiring an additional 15,794 shares during the last quarter. Covestor Ltd lifted its holdings in Baxter International by 23.4% in the third quarter. Covestor Ltd now owns 6,431 shares of the medical instruments supplier’s stock valued at $244,000 after acquiring an additional 1,219 shares during the period. Western Pacific Wealth Management LP purchased a new position in Baxter International in the third quarter worth about $114,000. Finally, National Pension Service grew its stake in shares of Baxter International by 22.1% during the 3rd quarter. National Pension Service now owns 1,154,616 shares of the medical instruments supplier’s stock valued at $43,841,000 after purchasing an additional 208,726 shares during the period. Institutional investors own 90.19% of the company’s stock.

Baxter International Trading Up 0.8 %

NYSE:BAX opened at $36.10 on Wednesday. The firm has a market capitalization of $18.42 billion, a P/E ratio of 7.43, a PEG ratio of 1.21 and a beta of 0.60. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91. Baxter International has a one year low of $32.48 and a one year high of $44.01. The company’s 50-day simple moving average is $37.53 and its 200 day simple moving average is $36.16.

Baxter International (NYSE:BAX) last issued its quarterly earnings results 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 firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the previous year, the firm posted $0.55 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, analysts forecast that Baxter International will post 2.96 EPS for the current fiscal year.

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.