Baxter International (NYSE:BAX) Price Target Lowered to $36.00 at Barclays

Key Points

• Barclays has lowered its price target for Baxter International from $41.00 to $36.00, indicating a potential upside of 60.64% from the stock's previous close.
• Other analysts, including Citigroup and Goldman Sachs, have also reduced their price targets for Baxter International, reflecting a generally cautious outlook on the stock.
• Baxter International's stock has shown a slight increase of 2.0% recently, trading at $22.41, amidst a market cap of $11.50 billion and various financial metrics that indicate mixed performance.

Baxter International (NYSE:BAX - Get Free Report) had its price target cut by investment analysts at Barclays from $41.00 to $36.00 in a report released on Monday,Benzinga reports. The firm currently has an "overweight" rating on the medical instruments supplier's stock. Barclays's target price indicates a potential upside of 60.64% from the stock's previous close.

A number of other equities analysts have also recently weighed in on BAX. Citigroup dropped 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. The Goldman Sachs Group lowered Baxter International from a "buy" rating to a "neutral" rating and set a $25.00 price objective for the company. in a report on Friday. Wall Street Zen downgraded shares of Baxter International from a "buy" rating to a "hold" rating in a research report on Saturday. Wells Fargo & Company cut their price objective on Baxter International from $33.00 to $24.00 and set an "equal weight" rating on the stock in a research note on Friday. Finally, UBS Group dropped their price target on shares of Baxter International from $35.00 to $24.00 and set a "neutral" rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $30.11.

Baxter International Stock Up 2.0%

Baxter International stock traded up $0.45 during midday trading on Monday, hitting $22.41. The stock had a trading volume of 11,386,479 shares, compared to its average volume of 5,060,967. The stock has a market cap of $11.50 billion, a P/E ratio of -74.70, a P/E/G ratio of 0.71 and a beta of 0.59. Baxter International has a 12 month low of $21.33 and a 12 month high of $40.49. The business has a fifty day moving average price of $29.52 and a 200 day moving average price of $31.03. The company has a current ratio of 2.02, a quick ratio of 1.40 and a debt-to-equity ratio of 1.33.

Baxter International (NYSE:BAX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The medical instruments supplier reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.82 billion. Baxter International had a positive return on equity of 16.93% and a negative net margin of 1.42%. The business's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Research analysts predict that Baxter International will post 2.48 EPS for the current year.

Institutional Investors Weigh In On Baxter International

A number of institutional investors have recently added to or reduced their stakes in the business. Zions Bancorporation National Association UT acquired a new stake in shares of Baxter International during the 1st quarter worth approximately $27,000. Rossby Financial LCC bought a new position in shares of Baxter International during the 1st quarter worth $29,000. Creative Financial Designs Inc. ADV boosted its holdings in Baxter International by 169.6% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 984 shares of the medical instruments supplier's stock worth $30,000 after buying an additional 619 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Baxter International by 48.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier's stock worth $69,000 after acquiring an additional 656 shares during the period. Finally, Archer Investment Corp raised its holdings in shares of Baxter International by 20.5% in the 1st quarter. Archer Investment Corp now owns 2,935 shares of the medical instruments supplier's stock valued at $100,000 after acquiring an additional 500 shares in the last quarter. 90.19% of the stock is owned by institutional investors.

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.

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