Brokerages Set Baxter International Inc. (NYSE:BAX) Price Target at $41.20

Shares of Baxter International Inc. (NYSE:BAX) have been given an average rating of “Hold” by the ten brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $41.20.

Several brokerages recently issued reports on BAX. StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price target on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company reduced their target price on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th. Morgan Stanley lowered Baxter International from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $39.00 to $30.00 in a research report on Monday, July 15th. Finally, Citigroup raised their price objective on Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st.

Baxter International Trading Up 0.5 %

NYSE:BAX opened at $35.87 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $18.30 billion, a PE ratio of 7.38, a price-to-earnings-growth ratio of 1.21 and a beta of 0.59. The firm’s 50 day moving average is $37.61 and its 200 day moving average is $36.26. Baxter International has a 12 month low of $32.28 and a 12 month high of $44.01.

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

Institutional Trading of Baxter International

Hedge funds have recently modified their holdings of the company. First PREMIER Bank purchased a new stake in shares of Baxter International during the 3rd quarter worth approximately $25,000. Innealta Capital LLC purchased a new stake in shares of Baxter International in the 2nd quarter worth $27,000. Fortitude Family Office LLC purchased a new stake in shares of Baxter International in the 3rd quarter worth $38,000. LRI Investments LLC purchased a new stake in shares of Baxter International in the 1st quarter worth $39,000. Finally, Versant Capital Management Inc lifted its stake 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. 90.19% of the stock is owned by hedge funds and other institutional investors.

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.