Baxter International (NYSE:BAX) Given New $40.00 Price Target at Citigroup

Baxter International (NYSE:BAX) had its target price hoisted by Citigroup from $38.00 to $40.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the medical instruments supplier’s stock. Citigroup’s price objective indicates a potential upside of 8.14% from the company’s previous close.

Other analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. cut their target price on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their target price 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. Evercore ISI cut their target price on shares of Baxter International from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Company cut 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 research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.00.

Baxter International Stock Performance

Shares of Baxter International stock traded down $0.98 on Tuesday, reaching $36.99. The stock had a trading volume of 1,620,513 shares, compared to its average volume of 4,128,261. The business’s 50-day moving average price is $37.42 and its two-hundred day moving average price is $37.14. 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 has a fifty-two week low of $31.01 and a fifty-two week high of $44.01. The stock has a market cap of $18.85 billion, a P/E ratio of 7.10, a price-to-earnings-growth ratio of 1.32 and a beta of 0.59.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. 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 company earned $0.55 earnings per share. Baxter International’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts forecast that Baxter International will post 2.96 EPS for the current year.

Institutional Investors Weigh In On Baxter International

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Baxter International by 73.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock worth $226,541,000 after purchasing an additional 2,862,626 shares during the last quarter. LSV Asset Management bought a new stake in shares of Baxter International in the 2nd quarter worth about $140,296,000. Shapiro Capital Management LLC grew its holdings in shares of Baxter International by 19.7% in the 2nd quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock worth $109,885,000 after purchasing an additional 541,575 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in shares of Baxter International in the 2nd quarter worth about $67,263,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Baxter International by 7.6% in the 1st quarter. Russell Investments Group Ltd. now owns 1,206,242 shares of the medical instruments supplier’s stock worth $51,553,000 after purchasing an additional 84,808 shares during the last quarter. 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.