Baxter International (NYSE:BAX) Lowered to “Hold” at StockNews.com

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

Other equities analysts have also issued research reports about the company. Evercore ISI cut their price target on Baxter International from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Morgan Stanley lowered Baxter International from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $39.00 to $30.00 in a research report on Monday, July 15th. The Goldman Sachs Group boosted their price target on shares of Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Finally, Citigroup upped their price target on shares of Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $42.00.

Baxter International Stock Performance

Shares of NYSE BAX traded down $1.06 during trading on Tuesday, reaching $36.91. 4,316,303 shares of the company traded hands, compared to its average volume of 4,142,525. The stock has a market cap of $18.81 billion, a P/E ratio of 7.10, a PEG ratio of 1.32 and a beta of 0.59. The firm’s fifty day simple moving average is $37.46 and its 200 day simple moving average is $37.11. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35. Baxter International has a 12-month low of $31.01 and a 12-month high of $44.01.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, topping the consensus estimate of $0.66 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 $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the firm posted $0.55 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, research analysts anticipate that Baxter International will post 2.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Baxter International

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