Baxter International (NYSE:BAX) Downgraded to “Hold” Rating by Wall Street Zen

Baxter International (NYSE:BAX) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

BAX has been the subject of several other reports. The Goldman Sachs Group began coverage on shares of Baxter International in a research report on Wednesday, February 26th. They set a “buy” rating and a $42.00 price objective for the company. Morgan Stanley lowered their price objective on shares of Baxter International from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Monday, May 5th. Barclays upped their price target on shares of Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Wells Fargo & Company lowered their price target on shares of Baxter International from $36.00 to $33.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Finally, Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $37.25.

Baxter International Trading Down 2.4%

Shares of BAX stock opened at $30.60 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The stock has a market cap of $15.70 billion, a P/E ratio of -23.91, a price-to-earnings-growth ratio of 0.93 and a beta of 0.61. The stock has a 50 day simple moving average of $30.21 and a 200 day simple moving average of $31.36. Baxter International has a 1 year low of $26.25 and a 1 year high of $40.49.

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

Institutional Trading of Baxter International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Horizon Investments LLC grew its holdings in Baxter International by 5.0% during the 1st quarter. Horizon Investments LLC now owns 7,438 shares of the medical instruments supplier’s stock worth $255,000 after acquiring an additional 351 shares during the period. Rothschild Investment LLC grew its holdings in Baxter International by 3.4% during the 1st quarter. Rothschild Investment LLC now owns 14,479 shares of the medical instruments supplier’s stock worth $496,000 after acquiring an additional 481 shares during the period. Archer Investment Corp grew its holdings in Baxter International by 20.5% during the 1st quarter. Archer Investment Corp now owns 2,935 shares of the medical instruments supplier’s stock worth $100,000 after acquiring an additional 500 shares during the period. Home Federal Bank of Tennessee grew its holdings in Baxter International by 2.5% during the 1st quarter. Home Federal Bank of Tennessee now owns 22,600 shares of the medical instruments supplier’s stock worth $774,000 after acquiring an additional 550 shares during the period. Finally, Private Trust Co. NA grew its holdings in Baxter International by 17.3% during the 1st quarter. Private Trust Co. NA now owns 3,822 shares of the medical instruments supplier’s stock worth $131,000 after acquiring an additional 565 shares during the period. 90.19% of the stock is currently owned by institutional investors and hedge funds.

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.