Evercore ISI Cuts Baxter International (NYSE:BAX) Price Target to $42.00

Baxter International (NYSE:BAX - Get Free Report) had its price target lowered by equities researchers at Evercore ISI from $44.00 to $42.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the medical instruments supplier's stock. Evercore ISI's price target suggests a potential upside of 46.29% from the company's previous close.

A number of other equities analysts have also recently commented on BAX. Wells Fargo & Company decreased their price target on Baxter International from $36.00 to $33.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Barclays lifted their price target on Baxter International from $39.00 to $41.00 and gave the stock an "overweight" rating in a research note on Monday, March 10th. Morgan Stanley reduced their target price on Baxter International from $30.00 to $28.00 and set an "underweight" rating on the stock in a research note on Monday, May 5th. Finally, Wall Street Zen raised Baxter International from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.50.

Baxter International Price Performance

Shares of NYSE BAX traded down $0.99 during trading hours on Tuesday, reaching $28.71. 6,805,825 shares of the stock traded hands, compared to its average volume of 4,371,118. The company has a market capitalization of $14.73 billion, a P/E ratio of -26.10, a price-to-earnings-growth ratio of 0.87 and a beta of 0.61. The company has a quick ratio of 1.40, a current ratio of 2.02 and a debt-to-equity ratio of 1.33. Baxter International has a 52-week low of $26.25 and a 52-week high of $40.49. The company's 50-day simple moving average is $30.55 and its two-hundred day simple moving average is $31.24.

Baxter International (NYSE:BAX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.14. The company had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.59 billion. Baxter International had a positive return on equity of 17.24% and a negative net margin of 4.71%. Baxter International's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. Equities research analysts forecast that Baxter International will post 2.48 EPS for the current year.

Institutional Investors Weigh In On Baxter International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Horizon Investments LLC lifted its position in Baxter International by 5.0% during the 1st quarter. Horizon Investments LLC now owns 7,438 shares of the medical instruments supplier's stock worth $255,000 after acquiring an additional 351 shares during the period. Rothschild Investment LLC lifted its position in Baxter International by 3.4% during the 1st quarter. Rothschild Investment LLC now owns 14,479 shares of the medical instruments supplier's stock worth $496,000 after acquiring an additional 481 shares during the period. Archer Investment Corp lifted its position in Baxter International by 20.5% during the 1st quarter. Archer Investment Corp now owns 2,935 shares of the medical instruments supplier's stock worth $100,000 after acquiring an additional 500 shares during the period. Home Federal Bank of Tennessee lifted its position in Baxter International by 2.5% during the 1st quarter. Home Federal Bank of Tennessee now owns 22,600 shares of the medical instruments supplier's stock worth $774,000 after acquiring an additional 550 shares during the period. Finally, Private Trust Co. NA lifted its position in Baxter International by 17.3% during the 1st quarter. Private Trust Co. NA now owns 3,822 shares of the medical instruments supplier's stock worth $131,000 after acquiring an additional 565 shares during the period. 90.19% of the stock is owned by hedge funds and other 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.