Baxter International (NYSE:BAX) Downgraded by StockNews.com to “Hold”

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

BAX has been the topic of several other research reports. Stifel Nicolaus dropped their target price on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley downgraded shares of 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. Citigroup lifted their target price on shares of Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. The Goldman Sachs Group raised their target price on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company reduced their price target 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 analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.91.

Baxter International Price Performance

Shares of NYSE BAX opened at $33.83 on Monday. The company has a 50 day simple moving average of $37.31 and a two-hundred day simple moving average of $36.01. Baxter International has a fifty-two week low of $32.48 and a fifty-two week high of $44.01. The company has a market capitalization of $17.26 billion, a price-to-earnings ratio of 169.15, a P/E/G ratio of 1.17 and a beta of 0.60. 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 Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 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 $3.85 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Analysts expect that Baxter International will post 2.93 EPS for the current fiscal year.

Institutional Trading of Baxter International

A number of institutional investors and hedge funds have recently bought and sold shares of BAX. Raymond James Trust N.A. grew its position in shares of Baxter International by 21.9% during the third quarter. Raymond James Trust N.A. now owns 33,071 shares of the medical instruments supplier’s stock valued at $1,256,000 after purchasing an additional 5,931 shares in the last quarter. Sivik Global Healthcare LLC grew its holdings in Baxter International by 50.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 150,000 shares of the medical instruments supplier’s stock valued at $5,696,000 after buying an additional 50,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Baxter International by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,139,074 shares of the medical instruments supplier’s stock worth $43,251,000 after acquiring an additional 12,773 shares during the last quarter. Entropy Technologies LP increased its stake in Baxter International by 213.5% in the 3rd quarter. Entropy Technologies LP now owns 23,192 shares of the medical instruments supplier’s stock worth $881,000 after acquiring an additional 15,794 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Baxter International by 23.4% during the 3rd quarter. Covestor Ltd now owns 6,431 shares of the medical instruments supplier’s stock worth $244,000 after acquiring an additional 1,219 shares in the last quarter. 90.19% of the stock is currently owned by institutional investors.

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.