StockNews.com Lowers Baxter International (NYSE:BAX) to Hold

Baxter International (NYSE:BAX) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Monday.

A number of other research firms also recently commented on BAX. Wells Fargo & Company decreased their target price on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their target price on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley downgraded Baxter International from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $39.00 to $30.00 in a research report on Monday, July 15th. The Goldman Sachs Group upped their price objective on Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, Evercore ISI decreased their price objective on Baxter International from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Baxter International currently has a consensus rating of “Hold” and a consensus target price of $41.73.

Baxter International Stock Up 0.7 %

NYSE:BAX traded up $0.26 during trading hours on Monday, reaching $39.22. 3,392,934 shares of the company traded hands, compared to its average volume of 4,214,025. The business’s 50-day moving average price is $36.06 and its two-hundred day moving average price is $37.49. The stock has a market capitalization of $20.01 billion, a P/E ratio of 7.54, a P/E/G ratio of 1.32 and a beta of 0.59. Baxter International has a 1 year low of $31.01 and a 1 year high of $44.01. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35.

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

Institutional Investors Weigh In On Baxter International

Institutional investors have recently modified their holdings of the business. Innealta Capital LLC acquired a new stake in Baxter International in the 2nd quarter worth about $27,000. LRI Investments LLC acquired a new stake in shares of Baxter International during the 1st quarter worth about $39,000. United Community Bank purchased a new stake in shares of Baxter International in the 4th quarter valued at approximately $43,000. Versant Capital Management Inc lifted its stake in 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 acquiring an additional 1,208 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in shares of Baxter International by 31.0% in the fourth quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock valued at $72,000 after purchasing an additional 443 shares during the period. 90.19% of the stock is currently owned by institutional investors and hedge funds.

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.