Citigroup Lowers Baxter International (NYSE:BAX) Price Target to $35.00

Baxter International (NYSE:BAX) had its target price reduced by analysts at Citigroup from $37.00 to $35.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the medical instruments supplier’s stock. Citigroup’s price target indicates a potential upside of 13.12% from the stock’s previous close.

BAX has been the topic of a number of other reports. StockNews.com cut Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Stifel Nicolaus decreased their price objective on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $40.45.

Baxter International Stock Performance

Shares of Baxter International stock traded down $0.50 during trading hours on Wednesday, reaching $30.94. 2,101,007 shares of the stock traded hands, compared to its average volume of 4,091,135. The company has a 50 day moving average price of $34.76 and a 200 day moving average price of $35.48. The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of 155.01, a P/E/G ratio of 13.06 and a beta of 0.58. Baxter International has a one year low of $30.80 and a one year high of $44.01. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.85 billion. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. On average, equities research analysts expect that Baxter International will post 1.92 earnings per share for the current fiscal year.

Institutional Trading of Baxter International

A number of institutional investors have recently made changes to their positions in the company. First PREMIER Bank purchased a new position in Baxter International during the third quarter worth approximately $25,000. Innealta Capital LLC purchased a new position in Baxter International during the second quarter worth approximately $27,000. Fortitude Family Office LLC purchased a new position in Baxter International during the third quarter worth approximately $38,000. LRI Investments LLC lifted its position in Baxter International by 60.8% during the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after buying an additional 590 shares in the last quarter. Finally, Cromwell Holdings LLC purchased a new position in Baxter International during the third quarter worth approximately $62,000. 90.19% of the stock is owned by institutional investors and hedge funds.

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.