StockNews.com Upgrades Baxter International (NYSE:BAX) to “Buy”

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

Several other equities analysts also recently commented on the stock. JPMorgan Chase & Co. dropped their price objective 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 boosted their price objective on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Evercore ISI dropped their target price on Baxter International from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Wells Fargo & Company reduced their price target 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. Finally, Citigroup dropped their price objective on shares of Baxter International from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.73.

Baxter International Stock Up 1.4 %

Shares of BAX opened at $40.26 on Tuesday. 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 $20.52 billion, a PE ratio of 7.74, a P/E/G ratio of 1.33 and a beta of 0.59. The firm’s 50 day moving average is $36.66 and its 200-day moving average is $37.42. Baxter International has a 12 month low of $31.01 and a 12 month high of $44.01.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share (EPS) 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 firm had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the prior year, the company posted $0.55 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts forecast that Baxter International will post 2.96 EPS for the current year.

Hedge Funds Weigh In On Baxter International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in shares of Baxter International in the 2nd quarter valued at $27,000. LRI Investments LLC bought a new stake in Baxter International in the first quarter valued at $39,000. United Community Bank acquired a new stake in Baxter International in the fourth quarter valued at approximately $43,000. Versant Capital Management Inc increased its holdings in shares of Baxter International by 974.2% during the second quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock valued at $45,000 after acquiring an additional 1,208 shares in the last quarter. Finally, Trust Co. of Vermont raised its position in shares of Baxter International by 31.0% during the fourth quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock worth $72,000 after purchasing an additional 443 shares during the period. Institutional investors and hedge funds own 90.19% of the company’s stock.

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.