Baxter International (NYSE:BAX) Price Target Raised to $41.00 at Barclays

Baxter International (NYSE:BAX) had its price objective upped by research analysts at Barclays from $39.00 to $41.00 in a report issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the medical instruments supplier’s stock. Barclays‘s target price suggests a potential upside of 12.00% from the company’s previous close.

Several other research firms also recently issued reports on BAX. The Goldman Sachs Group began coverage on shares of Baxter International in a report on Wednesday, February 26th. They set a “buy” rating and a $42.00 price objective on the stock. JPMorgan Chase & Co. decreased their price target on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Stifel Nicolaus cut their price objective on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Argus upgraded Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, StockNews.com lowered Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $38.56.

Baxter International Price Performance

Shares of Baxter International stock opened at $36.61 on Monday. The firm has a market cap of $18.73 billion, a PE ratio of -28.60, a P/E/G ratio of 0.93 and a beta of 0.60. Baxter International has a twelve month low of $28.34 and a twelve month high of $43.99. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. The business has a 50-day moving average price of $31.86 and a 200 day moving average price of $34.03.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Sell-side analysts predict that Baxter International will post 2.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Baxter International

Several hedge funds have recently bought and sold shares of the company. CoreFirst Bank & Trust acquired a new stake in shares of Baxter International during the fourth quarter worth about $26,000. Riverview Trust Co lifted its holdings in Baxter International by 5,488.2% during the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 933 shares in the last quarter. LRI Investments LLC boosted its position in Baxter International by 60.8% in the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after buying an additional 590 shares during the period. Bruce G. Allen Investments LLC grew its stake in shares of Baxter International by 247.3% in the fourth quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock worth $76,000 after acquiring an additional 1,867 shares in the last quarter. Finally, CKW Financial Group increased its position in shares of Baxter International by 19.3% during the fourth quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock worth $77,000 after acquiring an additional 425 shares during the period. Institutional investors and hedge funds own 90.19% of the company’s stock.

About Baxter International

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.