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

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.

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

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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