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

Baxter International logo with Medical background

Baxter International (NYSE:BAX - Get Free Report) had its price target dropped by investment analysts at Citigroup from $34.00 to $32.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the medical instruments supplier's stock. Citigroup's target price would indicate a potential upside of 7.17% from the stock's previous close.

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

Read Our Latest Stock Report on BAX

Baxter International Price Performance

BAX stock traded down $0.80 during midday trading on Wednesday, hitting $29.86. 7,015,146 shares of the stock were exchanged, compared to its average volume of 4,457,937. The stock's 50-day moving average price is $30.64 and its 200-day moving average price is $31.25. The stock has a market cap of $15.32 billion, a price-to-earnings ratio of -27.15, a PEG ratio of 0.87 and a beta of 0.61. Baxter International has a fifty-two week low of $26.25 and a fifty-two week 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 results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. Baxter International had a negative net margin of 4.71% and a positive return on equity of 17.24%. The company had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.59 billion. During the same period last year, the company earned $0.65 EPS. The firm's revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts predict that Baxter International will post 2.48 earnings per share for the current year.

Institutional Investors Weigh In On Baxter International

A number of large investors have recently made changes to their positions in the company. Dodge & Cox increased its stake in Baxter International by 13.0% in the 4th quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier's stock valued at $1,469,002,000 after buying an additional 5,779,100 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Baxter International by 40.4% in the 4th quarter. Russell Investments Group Ltd. now owns 1,745,709 shares of the medical instruments supplier's stock valued at $50,904,000 after buying an additional 502,370 shares in the last quarter. Sound Shore Management Inc. CT acquired a new stake in shares of Baxter International during the 4th quarter worth about $72,450,000. GAMMA Investing LLC grew its holdings in Baxter International by 248.3% during the 1st quarter. GAMMA Investing LLC now owns 11,326 shares of the medical instruments supplier's stock worth $388,000 after acquiring an additional 8,074 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of Baxter International in the 4th quarter valued at about $2,193,000. Institutional investors and hedge funds own 90.19% of the company's stock.

Baxter International Company Profile

(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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Analyst Recommendations for Baxter International (NYSE:BAX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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