Baxter International (NYSE:BAX) Price Target Cut to $27.00 by Analysts at Morgan Stanley

Baxter International (NYSE:BAX - Get Free Report) had its price objective dropped by equities research analysts at Morgan Stanley from $28.00 to $27.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "underweight" rating on the medical instruments supplier's stock. Morgan Stanley's price target indicates a potential downside of 4.64% from the company's current price.

Other analysts have also issued research reports about the company. Citigroup decreased their price target on Baxter International from $34.00 to $32.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Wells Fargo & Company decreased their price target on Baxter International from $36.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Evercore ISI decreased their price target on Baxter International from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Finally, Wall Street Zen raised Baxter International from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.38.

Baxter International Stock Performance

Shares of NYSE:BAX traded up $0.07 during trading on Tuesday, hitting $28.32. 1,788,247 shares of the stock were exchanged, compared to its average volume of 4,370,581. Baxter International has a 1-year low of $26.25 and a 1-year high of $40.49. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of -25.73, a price-to-earnings-growth ratio of 0.84 and a beta of 0.61. The company's fifty day simple moving average is $30.48 and its 200-day simple moving average is $31.24. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.40 and a current ratio of 2.02.

Baxter International (NYSE:BAX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. Baxter International had a positive return on equity of 17.24% and a negative net margin of 4.71%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the firm earned $0.65 EPS. Baxter International's revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts expect that Baxter International will post 2.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Baxter International

Institutional investors and hedge funds have recently made changes to their positions in the company. CoreFirst Bank & Trust bought a new stake in shares of Baxter International during the fourth quarter worth $26,000. Zions Bancorporation National Association UT bought a new stake in Baxter International in the first quarter valued at about $27,000. Rossby Financial LCC bought a new stake in Baxter International in the first quarter valued at about $29,000. MassMutual Private Wealth & Trust FSB increased its holdings in Baxter International by 48.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier's stock valued at $69,000 after purchasing an additional 656 shares during the last quarter. Finally, Archer Investment Corp increased its holdings in Baxter International by 20.5% in the first quarter. Archer Investment Corp now owns 2,935 shares of the medical instruments supplier's stock valued at $100,000 after purchasing an additional 500 shares during the last quarter. 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.