Baxter International's (BAX) Hold Rating Reiterated at Stifel Nicolaus

Key Points

• Stifel Nicolaus has downgraded Baxter International from a "buy" to a "hold" rating with a price target of $25.00, suggesting a potential upside of 13.79% from its last closing price.
• Other analysts have also lowered target prices for Baxter, with estimates ranging from $24.00 to $42.00, indicating a consensus average rating of "Hold."
• Baxter International's recent earnings report showed a slight miss on EPS and revenue, reflecting a 4.3% year-over-year revenue growth despite a negative net margin.

Baxter International (NYSE:BAX - Get Free Report)'s stock had its "hold" rating reiterated by investment analysts at Stifel Nicolaus in a report issued on Monday, Marketbeat Ratings reports. They currently have a $25.00 price objective on the medical instruments supplier's stock, down from their previous price objective of $36.00. Stifel Nicolaus' price target would suggest a potential upside of 5.61% from the company's previous close.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded Baxter International from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company cut their price objective on shares of 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. Evercore ISI decreased their target price on shares of Baxter International from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Morgan Stanley lowered their target price 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. Finally, The Goldman Sachs Group lowered shares of Baxter International from a "buy" rating to a "neutral" rating and set a $25.00 price target for the company. in a research report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Baxter International presently has a consensus rating of "Hold" and an average price target of $30.11.

Baxter International Stock Performance

Baxter International stock traded up $0.13 during midday trading on Monday, reaching $23.67. The stock had a trading volume of 10,378,051 shares, compared to its average volume of 5,218,489. The firm has a market capitalization of $12.15 billion, a PE ratio of -78.91, a P/E/G ratio of 0.73 and a beta of 0.59. Baxter International has a 12 month low of $21.33 and a 12 month high of $40.49. The company has a quick ratio of 1.40, a current ratio of 2.30 and a debt-to-equity ratio of 1.30. The firm's 50-day moving average price is $28.90 and its 200 day moving average price is $30.81.

Baxter International (NYSE:BAX - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.82 billion. Baxter International had a negative net margin of 1.42% and a positive return on equity of 16.96%. The business's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. As a group, research analysts predict that Baxter International will post 2.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Baxter International

Hedge funds have recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new stake in shares of Baxter International in the 1st quarter worth approximately $27,000. Rossby Financial LCC bought a new stake in shares of Baxter International during the 1st quarter valued at about $29,000. Creative Financial Designs Inc. ADV increased its position in shares of Baxter International by 169.6% during the second quarter. Creative Financial Designs Inc. ADV now owns 984 shares of the medical instruments supplier's stock valued at $30,000 after buying an additional 619 shares during the period. Atlantic Union Bankshares Corp bought a new position in Baxter International in the second quarter worth about $48,000. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Baxter International by 48.1% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier's stock worth $69,000 after buying an additional 656 shares during the period. Hedge funds and other institutional investors 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.