Baxter International (NYSE:BAX) Downgraded by StockNews.com to “Hold”

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

A number of other equities analysts also recently weighed in on BAX. Wells Fargo & Company dropped their target price 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. Citigroup upped their price target on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Stifel Nicolaus cut their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday. Morgan Stanley lowered Baxter International from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $39.00 to $30.00 in a research note on Monday, July 15th. Finally, The Goldman Sachs Group upped their target price on Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $40.91.

Baxter International Trading Down 1.2 %

Shares of Baxter International stock traded down $0.42 during mid-day trading on Monday, hitting $34.22. 5,633,419 shares of the stock were exchanged, compared to its average volume of 4,055,554. The company has a 50-day simple moving average of $37.39 and a 200 day simple moving average of $36.05. 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 twelve month low of $32.48 and a twelve month high of $44.01. The stock has a market capitalization of $17.46 billion, a price-to-earnings ratio of 171.11, a price-to-earnings-growth ratio of 1.17 and a beta of 0.60.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. Research analysts forecast that Baxter International will post 2.93 EPS for the current year.

Hedge Funds Weigh In On Baxter International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in shares of Baxter International by 73.2% during the second 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 purchasing an additional 2,862,626 shares during the period. LSV Asset Management bought a new position in shares of Baxter International during the 2nd quarter worth approximately $140,296,000. Shapiro Capital Management LLC boosted its stake in shares of Baxter International by 19.7% during the 2nd quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock worth $109,885,000 after acquiring an additional 541,575 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in shares of Baxter International during the 2nd quarter worth approximately $67,263,000. Finally, Coho Partners Ltd. bought a new stake in Baxter International in the 3rd quarter valued at $57,229,000. Institutional investors 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.