UBS Group Issues Pessimistic Forecast for Baxter International (NYSE:BAX) Stock Price

Key Points

• UBS Group has lowered its price target for Baxter International from $35.00 to $24.00, maintaining a "neutral" rating for the stock, which indicates a potential upside of 8.92% from its current price.
• Multiple analysts have issued negative revisions for Baxter International, with Morgan Stanley setting a new price target of $27.00, reflecting a bearish outlook on the stock.
• Baxter International reported earnings of $0.59 per share for the last quarter, missing the analyst consensus estimate and experiencing a year-over-year revenue growth of only 4.3%.

Baxter International (NYSE:BAX - Get Free Report) had its price target lowered by stock analysts at UBS Group from $35.00 to $24.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "neutral" rating on the medical instruments supplier's stock. UBS Group's price target would suggest a potential upside of 8.92% from the stock's current price.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley cut their price objective on shares of Baxter International from $28.00 to $27.00 and set an "underweight" rating on the stock in a report on Tuesday, July 15th. Wall Street Zen lowered shares of Baxter International from a "buy" rating to a "hold" rating in a research note on Saturday. Evercore ISI lowered their price objective on shares of Baxter International from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Citigroup cut their target price on Baxter International from $34.00 to $32.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 9th. Finally, Stifel Nicolaus restated a "hold" rating and issued a $25.00 target price on shares of Baxter International in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $30.67.

Baxter International Stock Performance

Shares of NYSE:BAX opened at $22.04 on Monday. The firm has a market cap of $11.31 billion, a PE ratio of -73.68, a price-to-earnings-growth ratio of 0.71 and a beta of 0.59. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.40 and a current ratio of 2.02. Baxter International has a one year low of $21.33 and a one year high of $40.49. The firm's 50 day simple moving average is $29.52 and its 200-day simple moving average is $31.03.

Baxter International (NYSE:BAX - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical instruments supplier reported $0.59 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). The company had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.82 billion. Baxter International had a positive return on equity of 16.93% and a negative net margin of 1.42%. The firm's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. As a group, equities analysts predict that Baxter International will post 2.48 EPS for the current year.

Hedge Funds Weigh In On Baxter International

Large investors have recently bought and sold shares of the business. Oarsman Capital Inc. purchased a new position in shares of Baxter International in the second quarter valued at approximately $213,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Baxter International by 11.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,273,414 shares of the medical instruments supplier's stock valued at $38,559,000 after acquiring an additional 130,169 shares during the last quarter. RNC Capital Management LLC increased its position in Baxter International by 1.7% during the second quarter. RNC Capital Management LLC now owns 138,325 shares of the medical instruments supplier's stock worth $4,188,000 after purchasing an additional 2,277 shares during the last quarter. Whittier Trust Co. raised its stake in Baxter International by 82.2% during the second quarter. Whittier Trust Co. now owns 3,202 shares of the medical instruments supplier's stock worth $97,000 after purchasing an additional 1,445 shares during the period. Finally, KLP Kapitalforvaltning AS boosted its holdings in Baxter International by 1.8% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 183,276 shares of the medical instruments supplier's stock valued at $5,576,000 after purchasing an additional 3,300 shares during 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.

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