ValuEngine Downgrades Baxter International (NYSE:BAX) to Hold

Baxter International (NYSE:BAX) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, ValuEngine reports.

Several other analysts also recently weighed in on the stock. Raymond James boosted their price objective on shares of Baxter International from $84.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Royal Bank of Canada set a $87.00 price objective on shares of Baxter International and gave the stock a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Co set a $95.00 price objective on shares of Baxter International and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays set a $82.00 price objective on shares of Baxter International and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets boosted their price objective on shares of Baxter International to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $85.27.

NYSE BAX traded up $1.40 on Wednesday, hitting $86.64. 1,261,401 shares of the stock were exchanged, compared to its average volume of 2,685,280. The company has a quick ratio of 2.10, a current ratio of 2.78 and a debt-to-equity ratio of 0.72. Baxter International has a fifty-two week low of $61.05 and a fifty-two week high of $89.93. The company has a market cap of $44.23 billion, a PE ratio of 28.41, a PEG ratio of 1.99 and a beta of 0.99. The company has a 50-day moving average price of $87.04 and a 200-day moving average price of $81.36.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, July 25th. The medical instruments supplier reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.08. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.80 billion. Baxter International had a net margin of 14.28% and a return on equity of 21.21%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. As a group, equities research analysts predict that Baxter International will post 3.37 EPS for the current fiscal year.

In related news, Director James R. Gavin III sold 7,950 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $87.63, for a total value of $696,658.50. Following the completion of the sale, the director now owns 40,932 shares in the company, valued at approximately $3,586,871.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Jacqueline Kunzler sold 5,934 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $88.12, for a total transaction of $522,904.08. Following the completion of the sale, the senior vice president now owns 3,089 shares of the company’s stock, valued at approximately $272,202.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,064 shares of company stock valued at $1,235,359. 0.70% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Weaver Consulting Group purchased a new stake in Baxter International in the 1st quarter valued at $25,000. Personal Wealth Partners purchased a new stake in Baxter International in the 2nd quarter valued at $29,000. TRUE Private Wealth Advisors purchased a new stake in Baxter International in the 2nd quarter valued at $29,000. Evolution Wealth Advisors LLC purchased a new stake in Baxter International in the 2nd quarter valued at $32,000. Finally, Manchester Financial Inc. purchased a new stake in Baxter International in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 83.44% of the company’s stock.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

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Analyst Recommendations for Baxter International (NYSE:BAX)

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