Baxter International (NYSE:BAX) Upgraded by Argus to “Buy” Rating

Baxter International (NYSE:BAX) was upgraded by research analysts at Argus from a “hold” rating to a “buy” rating in a report released on Monday, MarketBeat reports.

Other research analysts have also issued research reports about the company. Stifel Nicolaus dropped their price target on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Citigroup dropped their price target on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. JPMorgan Chase & Co. dropped their price target on Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Barclays began coverage on Baxter International in a research report on Thursday, February 20th. They set an “overweight” rating and a $39.00 target price for the company. Finally, StockNews.com lowered Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Baxter International has an average rating of “Hold” and an average target price of $38.80.

Baxter International Trading Up 2.6 %

Shares of Baxter International stock opened at $36.00 on Monday. The firm has a market cap of $18.38 billion, a price-to-earnings ratio of -28.13, a PEG ratio of 0.93 and a beta of 0.61. The business has a 50-day moving average price of $30.89 and a 200-day moving average price of $34.07. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. 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, beating analysts’ consensus estimates of $0.52 by $0.06. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.67 billion. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. Equities research analysts anticipate that Baxter International will post 2.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Baxter International

Several institutional investors have recently added to or reduced their stakes in BAX. Forsta AP Fonden boosted its holdings in Baxter International by 6.9% in the third quarter. Forsta AP Fonden now owns 113,900 shares of the medical instruments supplier’s stock worth $4,325,000 after acquiring an additional 7,400 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Baxter International in the third quarter worth about $38,000. Cigna Investments Inc. New acquired a new stake in Baxter International in the third quarter worth about $201,000. Farther Finance Advisors LLC boosted its holdings in Baxter International by 23.2% in the third quarter. Farther Finance Advisors LLC now owns 2,519 shares of the medical instruments supplier’s stock worth $96,000 after acquiring an additional 475 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Baxter International by 11.1% in the third quarter. Van ECK Associates Corp now owns 61,878 shares of the medical instruments supplier’s stock worth $2,257,000 after acquiring an additional 6,168 shares in the last quarter. 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.