Evercore ISI Lowers Baxter International (NYSE:BAX) Price Target to $31.00

Key Points

• Evercore ISI has reduced Baxter International's price target from $33.00 to $31.00, while maintaining an "outperform" rating, indicating a potential upside of 33.71% from its current price.
• Other brokerage firms have also lowered their price targets for Baxter, with Barclays reducing theirs to $36.00 and Wells Fargo dropping it to $24.00.
• Baxter reported $0.59 EPS last quarter, slightly below analysts’ expectations, with a revenue of $2.81 billion, an increase of 4.3% from the same quarter last year.

Baxter International (NYSE:BAX - Get Free Report) had its target price dropped by research analysts at Evercore ISI from $33.00 to $31.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the medical instruments supplier's stock. Evercore ISI's price target indicates a potential upside of 33.71% from the company's current price.

Other equities analysts have also issued research reports about the stock. Barclays reduced their target price on shares of Baxter International from $41.00 to $36.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Wells Fargo & Company decreased their target price on Baxter International from $33.00 to $24.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Stifel Nicolaus reiterated a "hold" rating and issued a $25.00 target price (down previously from $36.00) on shares of Baxter International in a research note on Monday, August 4th. UBS Group decreased their price target on Baxter International from $35.00 to $24.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Finally, Morgan Stanley dropped their price objective on shares of Baxter International from $28.00 to $27.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $28.89.

Baxter International Trading Up 0.1%

Baxter International stock traded up $0.03 during midday trading on Tuesday, reaching $23.18. The stock had a trading volume of 1,778,285 shares, compared to its average volume of 5,477,504. The stock's 50-day simple moving average is $23.78 and its 200 day simple moving average is $27.99. Baxter International has a twelve month low of $21.33 and a twelve month high of $38.28. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.30. The stock has a market capitalization of $11.91 billion, a PE ratio of -77.25, a price-to-earnings-growth ratio of 0.78 and a beta of 0.58.

Baxter International (NYSE:BAX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical instruments supplier reported $0.59 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). Baxter International had a positive return on equity of 16.96% and a negative net margin of 1.42%.The firm had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.82 billion. During the same quarter last year, the business earned $0.68 earnings per share. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. Baxter International has set its Q3 2025 guidance at 0.580-0.620 EPS. FY 2025 guidance at 2.420-2.520 EPS. Analysts expect that Baxter International will post 2.48 EPS for the current year.

Institutional Investors Weigh In On Baxter International

Institutional investors and hedge funds have recently modified their holdings of the stock. Dodge & Cox boosted its position in shares of Baxter International by 1.3% in the 2nd quarter. Dodge & Cox now owns 52,121,620 shares of the medical instruments supplier's stock valued at $1,578,243,000 after purchasing an additional 662,695 shares during the period. Geode Capital Management LLC boosted its stake in Baxter International by 2.6% in the 2nd quarter. Geode Capital Management LLC now owns 12,882,960 shares of the medical instruments supplier's stock worth $388,416,000 after purchasing an additional 326,652 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Baxter International by 1.3% in the second quarter. Ameriprise Financial Inc. now owns 7,638,629 shares of the medical instruments supplier's stock valued at $231,304,000 after purchasing an additional 97,687 shares in the last quarter. Sound Shore Management Inc. CT lifted its stake in Baxter International by 13.7% in the 1st quarter. Sound Shore Management Inc. CT now owns 2,825,902 shares of the medical instruments supplier's stock worth $96,731,000 after acquiring an additional 341,321 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Baxter International by 13.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,900,828 shares of the medical instruments supplier's stock valued at $57,568,000 after acquiring an additional 224,804 shares in the last quarter. 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.

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.