Stifel Nicolaus Issues Positive Forecast for Baxter International (NYSE:BAX) Stock Price

Key Points

• Stifel Nicolaus raised Baxter International’s price target from $19 to $24 while maintaining a “hold” rating, implying roughly 1.62% downside from the reported share price. MarketBeat’s consensus rating is “Reduce,” with an average target of $20.73.
• Baxter shares rose 4.5% to $24.39 during Tuesday trading, though the stock remains below its 52-week high of $29.00.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.36 versus the $0.31 consensus and revenue of $2.70 billion versus estimates of $2.62 billion; institutional investors own approximately 90.19% of its shares.

Baxter International (NYSE:BAX - Get Free Report) had its target price upped by analysts at Stifel Nicolaus from $19.00 to $24.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the medical instruments supplier's stock. Stifel Nicolaus' target price indicates a potential downside of 1.62% from the company's current price.

BAX has been the topic of several other research reports. Weiss Ratings upgraded Baxter International from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, July 15th. Evercore lowered their target price on Baxter International from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, April 6th. TD Cowen lifted their target price on Baxter International from $20.00 to $24.00 and gave the company a "hold" rating in a research report on Monday. Barclays boosted their price target on shares of Baxter International from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Finally, Citigroup cut shares of Baxter International from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $19.00 to $17.00 in a research report on Thursday, May 28th. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $20.73.

Baxter International Trading Up 4.5%

Shares of NYSE:BAX traded up $1.05 during mid-day trading on Tuesday, reaching $24.39. 1,396,937 shares of the company were exchanged, compared to its average volume of 8,234,531. Baxter International has a 1 year low of $15.73 and a 1 year high of $29.00. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.85 and a quick ratio of 1.23. The firm's 50-day simple moving average is $20.81 and its 200 day simple moving average is $19.46. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of -11.47, a P/E/G ratio of 3.62 and a beta of 0.62.

Baxter International (NYSE:BAX - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Baxter International had a positive return on equity of 16.15% and a negative net margin of 9.70%.The company had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter in the previous year, the company earned $0.62 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that Baxter International will post 1.91 EPS for the current year.

Institutional Investors Weigh In On Baxter International

Several large investors have recently bought and sold shares of the stock. Basepoint Wealth LLC acquired a new position in shares of Baxter International during the fourth quarter worth about $26,000. Imprint Wealth LLC purchased a new stake in shares of Baxter International during the third quarter worth approximately $27,000. MUFG Securities EMEA plc acquired a new stake in Baxter International in the second quarter valued at approximately $46,000. Los Angeles Capital Management LLC purchased a new position in Baxter International in the fourth quarter worth approximately $46,000. Finally, Versant Capital Management Inc lifted its stake in Baxter International by 552.2% in the second quarter. Versant Capital Management Inc now owns 2,413 shares of the medical instruments supplier's stock worth $51,000 after acquiring an additional 2,043 shares during the last quarter. Hedge funds and other institutional investors own 90.19% of the company's stock.

About Baxter International

Baxter International Inc is a global healthcare company that develops, manufactures and markets a broad portfolio of medical products, pharmaceutical therapies and biotechnology-based solutions. The company's primary business activities are organized around renal care, medication delivery, acute therapies, pharmacy automation, surgical care and biotechnology. Baxter's offerings are designed to support patient care in hospitals, dialysis centers, nursing homes and other healthcare facilities worldwide.

In the renal care segment, Baxter provides hemodialysis and peritoneal dialysis systems, water treatment equipment and related disposables, including dialyzers, bloodlines and catheters.

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