Barclays Initiates Coverage on Baxter International (NYSE:BAX)

Key Points

• Barclays initiated coverage of Baxter International with an “underweight” rating and a $20 price target, implying approximately 17.7% downside from the stock’s $24.31 price. The broader analyst consensus is “Reduce,” with an average target of $21.73.
• Baxter reported quarterly EPS of $0.56, exceeding the $0.37 analyst estimate, while revenue rose 5.3% year over year to $2.96 billion. The company projects fiscal 2026 EPS of $1.95–$2.15.
• Institutional ownership is substantial at 90.19%, with BlackRock and Pzena Investment Management among the firms that established major positions during the second quarter.

Investment analysts at Barclays assumed coverage on shares of Baxter International (NYSE:BAX - Get Free Report) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage set an "underweight" rating and a $20.00 price target on the medical instruments supplier's stock. Barclays's target price indicates a potential downside of 17.72% from the stock's current price.

A number of other equities research analysts also recently commented on the company. Wells Fargo & Company lifted their target price on Baxter International from $19.00 to $23.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Wall Street Zen upgraded Baxter International from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Stifel Nicolaus raised their price objective on Baxter International from $19.00 to $24.00 and gave the stock a "hold" rating in a research report on Tuesday, July 28th. The Goldman Sachs Group boosted their price objective on shares of Baxter International from $19.00 to $21.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Finally, UBS Group upped their target price on shares of Baxter International from $19.00 to $25.00 and gave the company a "hold" rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Baxter International has a consensus rating of "Reduce" and a consensus target price of $21.73.

Baxter International Stock Performance

NYSE:BAX opened at $24.31 on Wednesday. The company's 50-day moving average is $25.34 and its two-hundred day moving average is $21.43. Baxter International has a 1-year low of $15.73 and a 1-year high of $30.00. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of -11.74, a PEG ratio of 3.66 and a beta of 0.65.

Baxter International (NYSE:BAX - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.19. Baxter International had a negative net margin of 9.27% and a positive return on equity of 16.57%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the firm earned $0.59 EPS. The business's revenue was up 5.3% compared to the same quarter last year. Baxter International has set its FY 2026 guidance at 1.950-2.150 EPS. Analysts forecast that Baxter International will post 2.04 EPS for the current year.

Institutional Investors Weigh In On Baxter International

Several institutional investors and hedge funds have recently modified their holdings of BAX. BlackRock Inc. acquired a new position in Baxter International in the 2nd quarter valued at about $1,744,874,000. Pzena Investment Management LLC purchased a new position in shares of Baxter International in the second quarter valued at approximately $1,392,098,000. Equity Investment Corp acquired a new position in shares of Baxter International in the second quarter valued at approximately $146,815,000. Bank of America Corp DE purchased a new stake in Baxter International during the 2nd quarter worth approximately $132,993,000. Finally, Bank of New York Mellon Corp acquired a new stake in Baxter International during the 2nd quarter worth approximately $68,036,000. Hedge funds and other institutional investors own 90.19% of the company's stock.

About Baxter International

Baxter International Inc is a global healthcare company that develops and markets products used in hospitals, outpatient facilities and other care settings. Its portfolio includes intravenous solutions and administration sets, infusion pumps, parenteral nutrition products, injectable medicines, surgical products and systems for medication preparation and delivery.

The company also provides products and technologies that support anesthesia, critical care, patient monitoring and other hospital workflows.

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