Baxter International (NYSE:BAX) Coverage Initiated at Barclays

Research analysts at Barclays initiated coverage on shares of Baxter International (NYSE:BAX) in a report released on Thursday. The brokerage set an “overweight” rating and a $39.00 price target on the medical instruments supplier’s stock. Barclays‘s price target suggests a potential upside of 17.53% from the company’s previous close.

BAX has been the topic of a number of other reports. StockNews.com cut shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Stifel Nicolaus lowered their price target on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Finally, Citigroup lowered their price objective on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Baxter International has an average rating of “Hold” and a consensus price target of $39.40.

Baxter International Stock Performance

BAX traded up $2.36 during trading on Thursday, hitting $33.18. The stock had a trading volume of 1,088,014 shares, compared to its average volume of 4,556,945. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. The firm has a market capitalization of $16.94 billion, a P/E ratio of 166.18, a PEG ratio of 9.95 and a beta of 0.61. The company’s 50-day moving average price is $30.52 and its 200 day moving average price is $34.15. Baxter International has a twelve month low of $28.33 and a twelve month high of $44.01.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.06. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. On average, equities research analysts forecast that Baxter International will post 1.83 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CoreFirst Bank & Trust purchased a new position in Baxter International in the 4th quarter valued at about $26,000. Riverview Trust Co lifted its holdings in Baxter International by 5,488.2% in the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after purchasing an additional 933 shares in the last quarter. Fortitude Family Office LLC purchased a new position in Baxter International in the 3rd quarter valued at about $38,000. LRI Investments LLC lifted its holdings 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 purchasing an additional 590 shares in the last quarter. Finally, Cromwell Holdings LLC purchased a new position in Baxter International in the 3rd quarter valued at about $62,000. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

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.