Baxter International (NYSE:BAX – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Monday,Zacks.com reports.
A number of other equities analysts have also weighed in on BAX. Citigroup lowered shares of Baxter International from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $19.00 to $17.00 in a report on Thursday, May 28th. Weiss Ratings restated a “sell (e+)” rating on shares of Baxter International in a research note on Friday, May 15th. Evercore dropped their price objective on Baxter International from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Stifel Nicolaus reduced their price objective on Baxter International from $20.00 to $19.00 in a report on Friday, May 1st. Finally, TD Cowen reduced their price target on shares of Baxter International from $22.00 to $20.00 in a research note on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $19.73.
View Our Latest Analysis on BAX
Baxter International Stock Performance
Baxter International (NYSE:BAX – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $2.70 billion during the quarter, compared to analyst estimates of $2.62 billion. Baxter International had a negative net margin of 9.70% and a positive return on equity of 16.15%. Baxter International’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned $0.62 EPS. Sell-side analysts anticipate that Baxter International will post 1.92 EPS for the current fiscal year.
Institutional Investors Weigh In On Baxter International
A number of hedge funds have recently modified their holdings of the business. Baird Financial Group Inc. lifted its position in Baxter International by 3.2% during the second quarter. Baird Financial Group Inc. now owns 52,436 shares of the medical instruments supplier’s stock valued at $1,588,000 after purchasing an additional 1,604 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Baxter International by 2.9% during the 2nd quarter. California State Teachers Retirement System now owns 649,463 shares of the medical instruments supplier’s stock valued at $19,666,000 after buying an additional 18,439 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Baxter International by 1.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,638,629 shares of the medical instruments supplier’s stock valued at $231,304,000 after buying an additional 97,687 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Baxter International by 21.4% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,356 shares of the medical instruments supplier’s stock valued at $737,000 after acquiring an additional 4,293 shares during the period. Finally, Captrust Financial Advisors grew its stake in shares of Baxter International by 5.5% during the 2nd quarter. Captrust Financial Advisors now owns 53,933 shares of the medical instruments supplier’s stock valued at $1,633,000 after acquiring an additional 2,813 shares during the period. Institutional investors own 90.19% of the company’s stock.
About Baxter International
Baxter International Inc is a global healthcare company that develops, manufactures and markets a broad portfolio of medical products, pharmaceutical therapies and biotechnology-based solutions. The company’s primary business activities are organized around renal care, medication delivery, acute therapies, pharmacy automation, surgical care and biotechnology. Baxter’s offerings are designed to support patient care in hospitals, dialysis centers, nursing homes and other healthcare facilities worldwide.
In the renal care segment, Baxter provides hemodialysis and peritoneal dialysis systems, water treatment equipment and related disposables, including dialyzers, bloodlines and catheters.
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