JPMorgan Chase & Co. Cuts Baxter International (NYSE:BAX) Price Target to $36.00

Baxter International (NYSE:BAX) had its price objective dropped by analysts at JPMorgan Chase & Co. from $38.00 to $36.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 6.30% from the stock’s previous close.

A number of other research analysts have also commented on the company. Citigroup lowered their price target on Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Stifel Nicolaus lowered their price target on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Barclays began coverage on Baxter International in a report on Thursday. They set an “overweight” rating and a $39.00 price target on the stock. Finally, StockNews.com lowered Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $38.80.

Baxter International Price Performance

Shares of NYSE BAX opened at $33.87 on Friday. Baxter International has a 1-year low of $28.33 and a 1-year high of $44.01. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. The business’s fifty day moving average price is $30.65 and its two-hundred day moving average price is $34.12. The firm has a market capitalization of $17.29 billion, a PE ratio of -26.46, a P/E/G ratio of 10.62 and a beta of 0.61.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.06. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The firm had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.67 billion. On average, research analysts expect that Baxter International will post 2.48 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Trust Group Inc. increased its position in Baxter International by 1.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier’s stock worth $33,845,000 after buying an additional 21,592 shares during the period. Nicholas Hoffman & Company LLC. bought a new position in Baxter International in the 4th quarter worth approximately $907,000. Geode Capital Management LLC increased its position in Baxter International by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock worth $460,022,000 after buying an additional 170,776 shares during the period. Entropy Technologies LP increased its position 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 buying an additional 15,794 shares during the period. Finally, Toronto Dominion Bank increased its position in Baxter International by 15.4% in the 3rd quarter. Toronto Dominion Bank now owns 170,855 shares of the medical instruments supplier’s stock worth $6,487,000 after buying an additional 22,787 shares during the period. 90.19% of the stock is owned by 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.