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 stock analysts at Evercore ISI from $44.00 to $42.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the medical instruments supplier's stock. Evercore ISI's target price would indicate a potential upside of 41.41% from the company's current price.

Other analysts also recently issued reports about the company. Barclays increased their price objective on Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Morgan Stanley decreased their price objective on 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 decreased their price objective on Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Baxter International from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.88.

Baxter International Stock Down 4.2%

Shares of BAX opened at $29.70 on Tuesday. Baxter International has a one year low of $26.25 and a one year high of $40.49. The company has a market cap of $15.24 billion, a P/E ratio of -27.00, a P/E/G ratio of 0.91 and a beta of 0.61. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.02 and a quick ratio of 1.40. The firm has a 50 day simple moving average of $30.65 and a two-hundred day simple moving average of $31.25.

Baxter International (NYSE:BAX - Get Free Report) last announced 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. 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 company's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 earnings per share. Research analysts forecast that Baxter International will post 2.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Baxter International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Park National Corp OH boosted its position in shares of Baxter International by 2,691.4% during the 2nd quarter. Park National Corp OH now owns 219,512 shares of the medical instruments supplier's stock worth $6,647,000 after purchasing an additional 211,648 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs bought a new position in shares of Baxter International during the 1st quarter worth about $1,021,000. Anchor Investment Management LLC boosted its position in shares of Baxter International by 3.4% during the 1st quarter. Anchor Investment Management LLC now owns 21,164 shares of the medical instruments supplier's stock worth $724,000 after purchasing an additional 701 shares in the last quarter. RNC Capital Management LLC boosted its position in shares of Baxter International by 74.0% during the 1st quarter. RNC Capital Management LLC now owns 136,048 shares of the medical instruments supplier's stock worth $4,657,000 after purchasing an additional 57,855 shares in the last quarter. Finally, Sciencast Management LP bought a new position in shares of Baxter International during the 1st quarter worth about $356,000. Institutional investors own 90.19% of the company's stock.

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.

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.