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

Key Points

• UBS Group raised Baxter International’s price target from $19 to $25 while maintaining a “neutral” rating, implying roughly 2.6% upside from the prior close.
• Analyst sentiment remains cautious: Baxter has a consensus rating of “Reduce,” with two Buy, seven Hold, and four Sell ratings, and an average price target of $21.09.
• Baxter beat quarterly expectations, reporting $0.36 in adjusted EPS versus a $0.31 consensus and revenue of $2.70 billion versus $2.62 billion expected; institutional investors own approximately 90.19% of its shares.

Baxter International (NYSE:BAX - Get Free Report) had its target price upped by investment analysts at UBS Group from $19.00 to $25.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the medical instruments supplier's stock. UBS Group's price objective points to a potential upside of 2.60% from the stock's previous close.

A number of other research firms have also commented on BAX. Citigroup lowered shares of Baxter International from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $19.00 to $17.00 in a research note on Thursday, May 28th. The Goldman Sachs Group lifted their target price on shares of Baxter International from $19.00 to $21.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 15th. TD Cowen boosted their price target on shares of Baxter International from $20.00 to $24.00 and gave the company a "hold" rating in a report on Monday. Evercore reduced their price target on shares of Baxter International from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, April 6th. Finally, Stifel Nicolaus raised their price objective on shares of Baxter International from $19.00 to $24.00 and gave the stock a "hold" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Baxter International presently has an average rating of "Reduce" and a consensus price target of $21.09.

Baxter International Price Performance

Shares of NYSE BAX traded up $1.03 during mid-day trading on Tuesday, reaching $24.37. The company had a trading volume of 3,813,979 shares, compared to its average volume of 8,253,056. The company has a current ratio of 1.85, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market cap of $12.58 billion, a PE ratio of -11.41, a P/E/G ratio of 3.62 and a beta of 0.62. The company has a 50-day moving average price of $20.81 and a two-hundred day moving average price of $19.46. Baxter International has a 1-year low of $15.73 and a 1-year high of $29.00.

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, topping 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 period in the previous year, the firm earned $0.62 earnings per share. Baxter International's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Baxter International will post 1.91 earnings per share for the current year.

Hedge Funds Weigh In On Baxter International

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Baxter International by 7.8% in the fourth quarter. Geode Capital Management LLC now owns 13,510,205 shares of the medical instruments supplier's stock worth $257,174,000 after purchasing an additional 972,891 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Baxter International by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,638,629 shares of the medical instruments supplier's stock valued at $231,304,000 after buying an additional 97,687 shares during the period. Russell Investments Group Ltd. increased its stake in Baxter International by 35.6% in the 4th quarter. Russell Investments Group Ltd. now owns 3,410,689 shares of the medical instruments supplier's stock valued at $65,216,000 after buying an additional 894,761 shares during the period. Thompson Siegel & Walmsley LLC lifted its position in Baxter International by 12.0% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 3,328,202 shares of the medical instruments supplier's stock worth $63,602,000 after buying an additional 356,612 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in Baxter International by 2.9% in the 2nd quarter. California State Teachers Retirement System now owns 649,463 shares of the medical instruments supplier's stock worth $19,666,000 after buying an additional 18,439 shares in 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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