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

Baxter International (NYSE:BAX) had its price target cut by research analysts at JPMorgan Chase & Co. from $38.00 to $36.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 6.30% from the company’s current price.

A number of other research firms also recently issued reports on BAX. Stifel Nicolaus dropped their target price on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, November 11th. StockNews.com downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Barclays began coverage on shares of Baxter International in a research report on Thursday. They set an “overweight” rating and a $39.00 target price for the company. Finally, Citigroup decreased their price target on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $38.80.

Baxter International Trading Up 1.3 %

NYSE BAX opened at $33.87 on Friday. Baxter International has a 12 month low of $28.33 and a 12 month high of $44.01. The company has a 50-day moving average of $30.65 and a 200-day moving average of $34.12. 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 company has a market cap of $17.29 billion, a P/E ratio of -26.46, a P/E/G ratio of 10.62 and a beta of 0.61.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.67 billion. As a group, equities analysts predict that Baxter International will post 2.48 earnings per share for the current year.

Hedge Funds Weigh In On Baxter International

Several institutional investors and hedge funds have recently made changes to their positions in BAX. CoreFirst Bank & Trust purchased a new position in shares of Baxter International during the 4th quarter valued at approximately $26,000. Riverview Trust Co lifted its stake in Baxter International by 5,488.2% during the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 933 shares during the last quarter. Fortitude Family Office LLC bought a new position in Baxter International during the third quarter worth $38,000. LRI Investments LLC lifted its stake in Baxter International by 60.8% during the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 590 shares during the last quarter. Finally, Cromwell Holdings LLC bought a new position in Baxter International during the third quarter worth $62,000. 90.19% of the stock is currently owned by hedge funds and other 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.