Wall Street Zen Upgrades Baxter International (NYSE:BAX) to "Buy"

Baxter International (NYSE:BAX - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Sunday.

A number of other research firms also recently weighed in on BAX. Barclays increased their price objective on Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Monday, March 10th. Argus upgraded Baxter International from a "hold" rating to a "buy" rating in a report on Monday, February 24th. The Goldman Sachs Group began coverage on shares of Baxter International in a research note on Wednesday, February 26th. They issued a "buy" rating and a $42.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Finally, Morgan Stanley cut their price target on shares of Baxter International from $30.00 to $28.00 and set an "underweight" rating on the stock in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Baxter International has an average rating of "Moderate Buy" and an average price target of $37.25.

Baxter International Stock Performance

NYSE:BAX opened at $30.03 on Friday. Baxter International has a 1-year low of $26.25 and a 1-year high of $40.49. The company has a current ratio of 2.02, a quick ratio of 1.40 and a debt-to-equity ratio of 1.33. The stock has a market cap of $15.41 billion, a P/E ratio of -27.30, a PEG ratio of 0.88 and a beta of 0.61. The stock has a 50 day simple moving average of $30.31 and a 200 day simple moving average of $31.23.

Baxter International (NYSE:BAX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.14. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.59 billion. Baxter International had a negative net margin of 4.71% and a positive return on equity of 17.24%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. Research analysts anticipate that Baxter International will post 2.48 earnings per share for the current year.

Institutional Trading of Baxter International

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dodge & Cox raised its holdings in shares of Baxter International by 2.1% in the first quarter. Dodge & Cox now owns 51,458,925 shares of the medical instruments supplier's stock valued at $1,761,439,000 after purchasing an additional 1,081,631 shares during the last quarter. Bank of New York Mellon Corp grew its position in Baxter International by 22.3% during the fourth quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier's stock valued at $447,870,000 after buying an additional 2,803,920 shares during the period. Geode Capital Management LLC grew its position in Baxter International by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 12,446,939 shares of the medical instruments supplier's stock valued at $362,006,000 after buying an additional 290,279 shares during the period. Ameriprise Financial Inc. raised its position in Baxter International by 1.1% in the first quarter. Ameriprise Financial Inc. now owns 7,540,942 shares of the medical instruments supplier's stock worth $258,140,000 after acquiring an additional 83,973 shares during the period. Finally, Sound Shore Management Inc. CT boosted its stake in Baxter International by 13.7% in the first quarter. Sound Shore Management Inc. CT now owns 2,825,902 shares of the medical instruments supplier's stock valued at $96,731,000 after acquiring an additional 341,321 shares during the last quarter. 90.19% of the stock is owned by hedge funds and other institutional investors.

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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