Wells Fargo & Company Issues Pessimistic Forecast for Baxter International (NYSE:BAX) Stock Price

Baxter International (NYSE:BAX) had its target price dropped by stock analysts at Wells Fargo & Company from $36.00 to $33.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the medical instruments supplier’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 7.53% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Barclays increased their target price on Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. The Goldman Sachs Group began coverage on Baxter International in a research report on Wednesday, February 26th. They issued a “buy” rating and a $42.00 price objective for the company. Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.78.

Baxter International Stock Up 0.1 %

Baxter International stock opened at $30.69 on Friday. The stock has a 50 day moving average of $32.06 and a two-hundred day moving average of $32.18. Baxter International has a twelve month low of $26.25 and a twelve month high of $40.49. The stock has a market capitalization of $15.74 billion, a price-to-earnings ratio of -23.98, a PEG ratio of 0.93 and a beta of 0.64. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.59 billion. During the same quarter in the prior year, the business earned $0.65 earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, research analysts expect that Baxter International will post 2.48 earnings per share for the current year.

Hedge Funds Weigh In On Baxter International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAX. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Baxter International by 1.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier’s stock worth $33,845,000 after purchasing an additional 21,592 shares in the last quarter. Nicholas Hoffman & Company LLC. acquired a new stake in Baxter International during the 4th quarter valued at $907,000. Bank of New York Mellon Corp increased its position in Baxter International by 22.3% during the fourth quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock worth $447,870,000 after buying an additional 2,803,920 shares in the last quarter. Dodge & Cox raised its holdings in shares of Baxter International by 13.0% in the fourth quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier’s stock worth $1,469,002,000 after acquiring an additional 5,779,100 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of Baxter International by 40.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,745,709 shares of the medical instruments supplier’s stock worth $50,904,000 after acquiring an additional 502,370 shares during the last quarter. Institutional investors and hedge funds 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.