Baxter International (NYSE:BAX) Given New $40.00 Price Target at Citigroup

Baxter International (NYSE:BAX) had its price target lifted by analysts at Citigroup from $38.00 to $40.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the medical instruments supplier’s stock. Citigroup’s price objective would indicate a potential upside of 8.14% from the company’s previous close.

A number of other analysts also recently commented on the stock. Morgan Stanley downgraded shares of Baxter International from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $39.00 to $30.00 in a report on Monday, July 15th. StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday, September 17th. Wells Fargo & Company dropped their target price on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their target price 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. Finally, Evercore ISI dropped their target price on shares of Baxter International from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.00.

Baxter International Price Performance

Shares of BAX stock traded down $0.98 during midday trading on Tuesday, reaching $36.99. 1,620,513 shares of the company were exchanged, compared to its average volume of 4,128,261. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40. The company’s 50 day moving average price is $37.42 and its two-hundred day moving average price is $37.14. Baxter International has a 12 month low of $31.01 and a 12 month high of $44.01. The company has a market cap of $18.85 billion, a P/E ratio of 7.10, a PEG ratio of 1.32 and a beta of 0.59.

Baxter International (NYSE:BAX) last released its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 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 business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts expect that Baxter International will post 2.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BAX. LSV Asset Management acquired a new stake in Baxter International in the second quarter valued at approximately $140,296,000. Bank of New York Mellon Corp lifted its stake in Baxter International by 73.2% in the second quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock valued at $226,541,000 after acquiring an additional 2,862,626 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in Baxter International in the second quarter valued at approximately $67,263,000. Shapiro Capital Management LLC lifted its stake in Baxter International by 19.7% in the second quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock valued at $109,885,000 after acquiring an additional 541,575 shares during the last quarter. Finally, ARGA Investment Management LP acquired a new stake in Baxter International in the first quarter valued at approximately $10,951,000. 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.