Citigroup Lowers Baxter International (NYSE:BAX) Price Target to $35.00

Baxter International (NYSE:BAX) had its price objective dropped by research analysts at Citigroup from $37.00 to $35.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the medical instruments supplier’s stock. Citigroup’s target price indicates a potential upside of 13.12% from the company’s current price.

Several other research firms have also recently issued reports on BAX. Stifel Nicolaus lowered their price objective 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. StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Baxter International has an average rating of “Hold” and a consensus target price of $40.45.

Baxter International Trading Down 1.6 %

Shares of NYSE BAX traded down $0.50 during trading on Wednesday, reaching $30.94. The stock had a trading volume of 2,101,007 shares, compared to its average volume of 4,091,135. Baxter International has a fifty-two week low of $30.80 and a fifty-two week high of $44.01. The company has a market cap of $15.80 billion, a P/E ratio of 155.01, a PEG ratio of 13.06 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. The business’s 50-day moving average price is $34.76 and its 200-day moving average price is $35.48.

Baxter International (NYSE:BAX) last released its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. Baxter International’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. On average, equities research analysts predict that Baxter International will post 1.92 EPS for the current fiscal year.

Institutional Investors Weigh In On Baxter International

Institutional investors have recently added to or reduced their stakes in the company. First PREMIER Bank purchased a new stake in Baxter International during the third quarter valued at about $25,000. Innealta Capital LLC purchased a new stake in shares of Baxter International in the second quarter worth about $27,000. Fortitude Family Office LLC purchased a new stake in shares of Baxter International in the third quarter worth about $38,000. LRI Investments LLC boosted its position in shares of Baxter International by 60.8% in the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after buying an additional 590 shares during the period. Finally, Cromwell Holdings LLC purchased a new stake in shares of Baxter International in the third quarter worth about $62,000. Hedge funds and other 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.