Baxter International (NYSE:BAX) Price Target Cut to $42.00

Baxter International (NYSE:BAX) had its price objective reduced by investment analysts at JPMorgan Chase & Co. from $44.00 to $42.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 13.76% from the stock’s previous close.

BAX has been the subject of several other reports. Citigroup lowered their price objective on shares of Baxter International from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Wells Fargo & Company decreased their price target on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday. Morgan Stanley cut shares of Baxter International from an “equal weight” rating to an “underweight” rating and cut their price objective 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 Thursday, August 1st. Finally, TD Cowen downgraded Baxter International from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research note on Friday, May 10th. One equities 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, Baxter International has an average rating of “Hold” and a consensus price target of $41.36.

Baxter International Price Performance

BAX stock remained flat at $36.92 during mid-day trading on Wednesday. The company’s stock had a trading volume of 2,520,425 shares, compared to its average volume of 4,252,552. The company has a 50-day moving average price of $34.32 and a two-hundred day moving average price of $37.92. Baxter International has a 1-year low of $31.01 and a 1-year high of $44.01. The stock has a market capitalization of $18.81 billion, a P/E ratio of 7.11, a P/E/G ratio of 1.88 and a beta of 0.57. The company has a quick ratio of 1.01, a current ratio of 1.48 and a debt-to-equity ratio of 1.35.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. Baxter International’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.55 earnings per share. As a group, analysts forecast that Baxter International will post 2.91 EPS for the current year.

Institutional Trading of Baxter International

Hedge funds have recently bought and sold shares of the stock. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Baxter International during the 4th quarter valued at $37,000. Impax Asset Management Group plc grew its stake in Baxter International by 46.8% in the 4th quarter. Impax Asset Management Group plc now owns 1,170,655 shares of the medical instruments supplier’s stock worth $45,258,000 after acquiring an additional 373,409 shares in the last quarter. CKW Financial Group bought a new stake in shares of Baxter International in the fourth quarter valued at about $43,000. ORG Partners LLC increased its holdings in Baxter International by 3,748.2% during the fourth quarter. ORG Partners LLC now owns 2,155 shares of the medical instruments supplier’s stock valued at $83,000 after buying an additional 2,099 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Baxter International by 76.6% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,439 shares of the medical instruments supplier’s stock valued at $56,000 after buying an additional 624 shares during the last quarter. 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.