TD Cowen Lowers Baxter International (NYSE:BAX) to Hold

Baxter International (NYSE:BAXGet Free Report) was downgraded by investment analysts at TD Cowen from a “buy” rating to a “hold” rating in a report released on Friday, Briefing.com reports. They presently have a $40.00 price objective on the medical instruments supplier’s stock. TD Cowen’s price objective points to a potential upside of 11.27% from the company’s current price.

BAX has been the topic of a number of other reports. Citigroup upped their price target on Baxter International from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. Barclays upped their target price on shares of Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. lifted their price target on shares of Baxter International from $38.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Finally, Bank of America increased their target price on Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, March 5th. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $45.73.

View Our Latest Research Report on Baxter International

Baxter International Stock Performance

Shares of BAX stock opened at $35.95 on Friday. The company has a market capitalization of $18.32 billion, a price-to-earnings ratio of 6.91, a price-to-earnings-growth ratio of 1.97 and a beta of 0.64. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48. Baxter International has a one year low of $31.01 and a one year high of $50.21. The company’s 50-day moving average is $41.19 and its 200 day moving average is $38.87.

Baxter International (NYSE:BAXGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.55 billion. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.59 earnings per share. Sell-side analysts expect that Baxter International will post 2.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Baxter International

A number of institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its holdings in Baxter International by 11.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 10,836,563 shares of the medical instruments supplier’s stock valued at $408,992,000 after buying an additional 1,098,787 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in Baxter International during the 3rd quarter valued at approximately $215,935,000. Carmignac Gestion grew its holdings in Baxter International by 9.5% during the 4th quarter. Carmignac Gestion now owns 5,311,012 shares of the medical instruments supplier’s stock valued at $205,324,000 after buying an additional 462,239 shares in the last quarter. California Public Employees Retirement System grew its holdings in Baxter International by 1.0% during the 3rd quarter. California Public Employees Retirement System now owns 3,151,515 shares of the medical instruments supplier’s stock valued at $118,938,000 after buying an additional 30,477 shares in the last quarter. Finally, Shapiro Capital Management LLC purchased a new stake in Baxter International during the 3rd quarter valued at approximately $114,307,000. 90.19% of the stock is owned by hedge funds and other institutional investors.

About Baxter International

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Baxter International (NYSE:BAX)

Receive News & Ratings for Baxter International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baxter International and related companies with MarketBeat.com's FREE daily email newsletter.