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Citigroup Cuts Baxter International (NYSE:BAX) Price Target to $32.00

Baxter International logo with Medical background

Baxter International (NYSE:BAX - Get Free Report) had its target price reduced by stock analysts at Citigroup from $34.00 to $32.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the medical instruments supplier's stock. Citigroup's price target points to a potential upside of 11.46% from the company's current price.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley cut their price target on shares of Baxter International from $30.00 to $28.00 and set an "underweight" rating for the company in a report on Monday, May 5th. Wells Fargo & Company cut their price target on shares of Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Evercore ISI cut their price target on shares of Baxter International from $44.00 to $42.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Wall Street Zen raised shares of Baxter International from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.50.

Check Out Our Latest Stock Report on BAX

Baxter International Price Performance

Shares of NYSE:BAX traded down $0.99 during midday trading on Wednesday, reaching $28.71. 6,805,825 shares of the company's stock were exchanged, compared to its average volume of 4,373,932. The company's 50 day simple moving average is $30.55 and its two-hundred day simple moving average is $31.24. The firm has a market capitalization of $14.73 billion, a PE ratio of -26.10, a price-to-earnings-growth ratio of 0.84 and a beta of 0.61. Baxter International has a 12 month low of $26.25 and a 12 month high of $40.49. 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 released its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.14. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.59 billion. Baxter International had a negative net margin of 4.71% and a positive return on equity of 17.24%. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. Equities research analysts expect that Baxter International will post 2.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Baxter International

A number of institutional investors and hedge funds have recently modified their holdings of BAX. Dodge & Cox raised its stake in shares of Baxter International by 13.0% during the fourth quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier's stock worth $1,469,002,000 after buying an additional 5,779,100 shares during the last quarter. Sound Shore Management Inc. CT bought a new stake in shares of Baxter International during the fourth quarter worth approximately $72,450,000. Thompson Siegel & Walmsley LLC raised its stake in shares of Baxter International by 35.1% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,548,215 shares of the medical instruments supplier's stock worth $74,306,000 after buying an additional 662,042 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Baxter International by 40.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,745,709 shares of the medical instruments supplier's stock worth $50,904,000 after buying an additional 502,370 shares during the last quarter. Finally, ARGA Investment Management LP raised its stake in shares of Baxter International by 52.5% during the first quarter. ARGA Investment Management LP now owns 1,327,946 shares of the medical instruments supplier's stock worth $45,456,000 after buying an additional 457,345 shares during the last quarter. 90.19% of the stock is owned by institutional investors.

About Baxter International

(Get Free Report)

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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