The Goldman Sachs Group Begins Coverage on Baxter International (NYSE:BAX)

Equities research analysts at The Goldman Sachs Group assumed coverage on shares of Baxter International (NYSE:BAX) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $42.00 price target on the medical instruments supplier’s stock. The Goldman Sachs Group’s target price points to a potential upside of 19.78% from the company’s previous close.

A number of other analysts have also recently commented on BAX. Barclays began coverage on Baxter International in a research report on Thursday, February 20th. They set an “overweight” rating and a $39.00 price objective for the company. Citigroup lowered their price target on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Argus raised shares of Baxter International from a “hold” rating to a “buy” rating in a research note on Monday. JPMorgan Chase & Co. decreased their target price on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Finally, StockNews.com downgraded 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, six have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $39.00.

Baxter International Stock Performance

NYSE:BAX opened at $35.07 on Wednesday. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $17.94 billion, a P/E ratio of -27.39, a price-to-earnings-growth ratio of 0.93 and a beta of 0.61. The firm has a 50-day moving average price of $31.13 and a two-hundred day moving average price of $34.09. Baxter International has a twelve month low of $28.33 and a twelve month high of $44.01.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, topping 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 business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.67 billion. As a group, research analysts expect that Baxter International will post 2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of 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 purchasing an additional 21,592 shares during the period. Nicholas Hoffman & Company LLC. acquired a new stake in Baxter International during the 4th quarter worth approximately $907,000. Geode Capital Management LLC raised its holdings in Baxter International by 1.4% in the third quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock valued at $460,022,000 after buying an additional 170,776 shares during the period. Entropy Technologies LP lifted its position in Baxter International by 213.5% during the third quarter. Entropy Technologies LP now owns 23,192 shares of the medical instruments supplier’s stock valued at $881,000 after buying an additional 15,794 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in Baxter International by 15.4% during the third 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. Institutional investors and hedge funds own 90.19% of the company’s stock.

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.