TheStreet Downgrades Baxter International (NYSE:BAX) to C

Baxter International (NYSE:BAXGet Rating) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c” rating in a report released on Thursday, TheStreetRatingsTable reports.

A number of other brokerages also recently issued reports on BAX. UBS Group increased their price target on shares of Baxter International from $88.00 to $91.00 and gave the stock a “neutral” rating in a report on Friday, February 18th. Wells Fargo & Company lowered their price target on shares of Baxter International from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Friday, February 18th. Bank of America initiated coverage on shares of Baxter International in a report on Tuesday, March 1st. They set a “buy” rating and a $100.00 price target on the stock. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “strong-buy” rating and set a $99.00 price target on the stock in a report on Monday, January 17th. Finally, Citigroup began coverage on shares of Baxter International in a report on Friday, January 7th. They set a “buy” rating and a $101.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $93.93.

BAX stock opened at $71.06 on Thursday. The firm’s fifty day simple moving average is $78.73 and its 200-day simple moving average is $81.27. The company has a market capitalization of $35.76 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 1.59 and a beta of 0.60. The company has a debt-to-equity ratio of 1.88, a current ratio of 2.09 and a quick ratio of 1.52. Baxter International has a 12 month low of $69.72 and a 12 month high of $89.70.

Baxter International (NYSE:BAXGet Rating) last released its quarterly earnings data on Thursday, April 28th. The medical instruments supplier reported $0.93 EPS for the quarter, beating the consensus estimate of $0.80 by $0.13. The business had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.68 billion. Baxter International had a net margin of 10.04% and a return on equity of 21.01%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 EPS. As a group, sell-side analysts forecast that Baxter International will post 4.3 earnings per share for the current year.

In other news, Director Albert P. L. Stroucken sold 4,020 shares of the firm’s stock in a transaction that occurred on Tuesday, April 5th. The shares were sold at an average price of $76.02, for a total value of $305,600.40. Following the completion of the transaction, the director now owns 27,629 shares of the company’s stock, valued at $2,100,356.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Brian Stevens sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $85.50, for a total transaction of $213,750.00. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Large investors have recently modified their holdings of the stock. Schroder Investment Management Group raised its holdings in Baxter International by 327.3% in the third quarter. Schroder Investment Management Group now owns 219,449 shares of the medical instruments supplier’s stock valued at $17,650,000 after acquiring an additional 168,094 shares in the last quarter. Sivik Global Healthcare LLC raised its holdings in Baxter International by 64.3% in the third quarter. Sivik Global Healthcare LLC now owns 115,000 shares of the medical instruments supplier’s stock valued at $9,249,000 after acquiring an additional 45,000 shares in the last quarter. Beese Fulmer Investment Management Inc. raised its holdings in Baxter International by 1.3% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 60,869 shares of the medical instruments supplier’s stock valued at $5,225,000 after acquiring an additional 796 shares in the last quarter. Eagle Asset Management Inc. raised its holdings in Baxter International by 19,221.1% in the third quarter. Eagle Asset Management Inc. now owns 908,479 shares of the medical instruments supplier’s stock valued at $73,068,000 after acquiring an additional 903,777 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its holdings in Baxter International by 5,070.2% during the third quarter. Sit Investment Associates Inc. now owns 157,690 shares of the medical instruments supplier’s stock worth $12,683,000 after purchasing an additional 154,640 shares in the last quarter. 84.11% of the stock is currently owned by hedge funds and other institutional investors.

Baxter International Company Profile (Get Rating)

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

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