Wall Street Zen Downgrades Baxter International (NYSE:BAX) to Hold

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

A number of other brokerages also recently issued reports on BAX. Weiss Ratings restated a “sell (d)” rating on shares of Baxter International in a research report on Wednesday, January 21st. Morgan Stanley decreased their target price on shares of Baxter International from $19.00 to $15.00 and set an “underweight” rating for the company in a research report on Tuesday, December 2nd. Zacks Research lowered shares of Baxter International from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Citigroup reduced their price objective on shares of Baxter International from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. Finally, TD Cowen reiterated a “hold” rating on shares of Baxter International in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $21.40.

Baxter International Stock Down 0.1%

Shares of NYSE:BAX opened at $21.74 on Friday. The firm has a market cap of $11.18 billion, a P/E ratio of -32.94, a P/E/G ratio of 1.26 and a beta of 0.59. Baxter International has a 12-month low of $17.40 and a 12-month high of $37.74. The business has a fifty day simple moving average of $19.58 and a 200 day simple moving average of $21.53. The company has a quick ratio of 1.18, a current ratio of 1.84 and a debt-to-equity ratio of 1.21.

Institutional Investors Weigh In On Baxter International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV boosted its position in shares of Baxter International by 169.6% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 984 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 619 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Baxter International by 14.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 5,448 shares of the medical instruments supplier’s stock worth $124,000 after buying an additional 686 shares during the period. Covestor Ltd boosted its holdings in Baxter International by 9.5% in the fourth quarter. Covestor Ltd now owns 8,014 shares of the medical instruments supplier’s stock worth $153,000 after acquiring an additional 695 shares in the last quarter. CoreFirst Bank & Trust bought a new position in Baxter International in the second quarter worth approximately $27,000. Finally, Nicholas Hoffman & Company LLC. grew its stake in Baxter International by 2.1% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 46,913 shares of the medical instruments supplier’s stock valued at $897,000 after acquiring an additional 943 shares during the period. 90.19% of the stock is owned by institutional investors.

Baxter International Company Profile

Baxter International Inc is a global healthcare company that develops, manufactures and markets a broad portfolio of medical products, pharmaceutical therapies and biotechnology-based solutions. The company’s primary business activities are organized around renal care, medication delivery, acute therapies, pharmacy automation, surgical care and biotechnology. Baxter’s offerings are designed to support patient care in hospitals, dialysis centers, nursing homes and other healthcare facilities worldwide.

In the renal care segment, Baxter provides hemodialysis and peritoneal dialysis systems, water treatment equipment and related disposables, including dialyzers, bloodlines and catheters.