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

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

Other research analysts have also recently issued reports about the stock. Barclays boosted their target price on shares of Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. Argus raised Baxter International from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. The Goldman Sachs Group initiated coverage on Baxter International in a report on Wednesday, February 26th. They issued a "buy" rating and a $42.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Baxter International from $36.00 to $33.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Finally, Morgan Stanley cut their price objective on shares of Baxter International from $30.00 to $28.00 and set an "underweight" rating for the company in a report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $37.25.

Baxter International Stock Up 0.2%

BAX stock traded up $0.06 during trading on Friday, reaching $30.65. The stock had a trading volume of 3,648,414 shares, compared to its average volume of 4,392,969. The company has a quick ratio of 1.40, a current ratio of 2.02 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $15.73 billion, a price-to-earnings ratio of -27.87, a P/E/G ratio of 0.88 and a beta of 0.61. Baxter International has a one year low of $26.25 and a one year high of $40.49. The company's 50 day moving average is $30.40 and its two-hundred day moving average is $31.21.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BAX. Anchor Investment Management LLC raised its stake in Baxter International by 3.4% in the first quarter. Anchor Investment Management LLC now owns 21,164 shares of the medical instruments supplier's stock valued at $724,000 after purchasing an additional 701 shares in the last quarter. RNC Capital Management LLC increased its holdings in shares of Baxter International by 74.0% in the 1st quarter. RNC Capital Management LLC now owns 136,048 shares of the medical instruments supplier's stock worth $4,657,000 after buying an additional 57,855 shares during the last quarter. Sciencast Management LP purchased a new stake in shares of Baxter International during the 1st quarter valued at $356,000. Amundi lifted its holdings in shares of Baxter International by 9.5% during the 1st quarter. Amundi now owns 1,444,705 shares of the medical instruments supplier's stock worth $45,292,000 after acquiring an additional 125,431 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Baxter International by 19.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 188,673 shares of the medical instruments supplier's stock worth $6,458,000 after acquiring an additional 30,700 shares during the last quarter. 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.