UBS Group Lowers Baxter International (NYSE:BAX) Price Target to $24.00

Baxter International (NYSE:BAX) had its target price dropped by investment analysts at UBS Group from $35.00 to $24.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the medical instruments supplier’s stock. UBS Group’s price target points to a potential upside of 5.03% from the company’s current price.

A number of other research firms have also issued reports on BAX. Evercore ISI lowered their target price on Baxter International from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Tuesday, July 8th. Wall Street Zen lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company lowered their price objective on shares of Baxter International from $33.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. The Goldman Sachs Group downgraded shares of Baxter International from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a report on Friday, August 1st. Finally, Citigroup reduced their target price on shares of Baxter International from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.11.

Baxter International Price Performance

NYSE BAX opened at $22.85 on Monday. Baxter International has a 12 month low of $21.33 and a 12 month high of $40.49. The firm has a market capitalization of $11.73 billion, a PE ratio of -76.17, a P/E/G ratio of 0.72 and a beta of 0.59. The company’s 50 day simple moving average is $29.21 and its 200 day simple moving average is $30.91. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.02 and a quick ratio of 1.40.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, July 31st. The medical instruments supplier reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Baxter International had a negative net margin of 1.42% and a positive return on equity of 16.93%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the business posted $0.68 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Baxter International will post 2.48 EPS for the current fiscal year.

Institutional Trading of Baxter International

Hedge funds have recently modified their holdings of the business. Dodge & Cox raised its position in Baxter International by 13.0% during the fourth quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier’s stock valued at $1,469,002,000 after buying an additional 5,779,100 shares during the period. Russell Investments Group Ltd. grew its stake in Baxter International by 40.4% during the 4th quarter. Russell Investments Group Ltd. now owns 1,745,709 shares of the medical instruments supplier’s stock valued at $50,904,000 after acquiring an additional 502,370 shares in the last quarter. Raiffeisen Bank International AG increased its holdings in shares of Baxter International by 24.9% in the 1st quarter. Raiffeisen Bank International AG now owns 95,668 shares of the medical instruments supplier’s stock valued at $3,229,000 after purchasing an additional 19,081 shares during the period. New York State Common Retirement Fund lifted its position in shares of Baxter International by 30.9% in the first quarter. New York State Common Retirement Fund now owns 623,403 shares of the medical instruments supplier’s stock worth $21,339,000 after purchasing an additional 147,155 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Baxter International by 248.3% during the first quarter. GAMMA Investing LLC now owns 11,326 shares of the medical instruments supplier’s stock worth $388,000 after purchasing an additional 8,074 shares during the period. Hedge funds and other institutional investors 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.