Citigroup Has Lowered Expectations for Baxter International (NYSE:BAX) Stock Price

Baxter International (NYSE:BAX - Get Free Report) had its target price decreased by investment analysts at Citigroup from $34.00 to $32.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the medical instruments supplier's stock. Citigroup's price objective would indicate a potential upside of 11.12% from the stock's current price.

A number of other equities research analysts have also weighed in on the stock. Wall Street Zen raised shares of Baxter International from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Wells Fargo & Company dropped their price objective on shares of Baxter International from $36.00 to $33.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Morgan Stanley dropped their price objective on shares of Baxter International from $30.00 to $28.00 and set an "underweight" rating on the stock in a report on Monday, May 5th. Finally, Evercore ISI lowered their price target on shares of Baxter International from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.50.

Baxter International Stock Down 3.0%

Shares of BAX stock traded down $0.90 during trading hours on Wednesday, reaching $28.80. 4,387,747 shares of the company's stock were exchanged, compared to its average volume of 4,362,005. The stock's 50 day moving average is $30.59 and its 200-day moving average is $31.24. The company has a market cap of $14.78 billion, a price-to-earnings ratio of -26.26, a P/E/G ratio of 0.88 and a beta of 0.61. 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 has a fifty-two week low of $26.25 and a fifty-two week high of $40.49.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC raised its holdings in Baxter International by 24.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 9,326 shares of the medical instruments supplier's stock valued at $282,000 after acquiring an additional 1,839 shares during the last quarter. Fiduciary Alliance LLC purchased a new position in Baxter International in the 2nd quarter valued at approximately $1,914,000. MassMutual Private Wealth & Trust FSB boosted its position in Baxter International by 40.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,831 shares of the medical instruments supplier's stock valued at $86,000 after buying an additional 810 shares during the period. Park National Corp OH raised its holdings in shares of Baxter International by 2,691.4% in the 2nd quarter. Park National Corp OH now owns 219,512 shares of the medical instruments supplier's stock valued at $6,647,000 after purchasing an additional 211,648 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Baxter International in the 1st quarter valued at $1,021,000. Institutional investors and hedge funds own 90.19% of the company's stock.

Baxter International Company Profile

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.