Stifel Nicolaus Lowers Baxter International (NYSE:BAX) Price Target to $38.00

Baxter International (NYSE:BAX - Get Free Report) had its target price decreased by stock analysts at Stifel Nicolaus from $46.00 to $38.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the medical instruments supplier's stock. Stifel Nicolaus' price target suggests a potential upside of 11.05% from the company's current price.

BAX has been the topic of several other reports. Wells Fargo & Company decreased their target price on shares of Baxter International from $44.00 to $40.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of Baxter International from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. Morgan Stanley lowered shares of Baxter International from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $39.00 to $30.00 in a research note on Monday, July 15th. StockNews.com raised shares of Baxter International from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group raised their price objective on shares of Baxter International from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $40.91.

Baxter International Stock Performance

Shares of NYSE BAX traded down $0.42 during mid-day trading on Monday, reaching $34.22. 5,633,419 shares of the company were exchanged, compared to its average volume of 4,055,554. The company's 50-day simple moving average is $37.39 and its 200-day simple moving average is $36.05. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $17.46 billion, a P/E ratio of 171.11, a P/E/G ratio of 1.17 and a beta of 0.60. Baxter International has a twelve month low of $32.48 and a twelve month high of $44.01.

Baxter International (NYSE:BAX - Get Free Report) last posted its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.02. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The company had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.85 billion. During the same quarter last year, the company posted $0.68 EPS. Baxter International's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts predict that Baxter International will post 2.93 earnings per share for the current year.

Hedge Funds Weigh In On Baxter International

A number of large investors have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in shares of Baxter International by 73.2% in the second quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier's stock valued at $226,541,000 after acquiring an additional 2,862,626 shares during the period. LSV Asset Management bought a new position in shares of Baxter International in the second quarter valued at approximately $140,296,000. Shapiro Capital Management LLC lifted its position in Baxter International by 19.7% during the second quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier's stock valued at $109,885,000 after purchasing an additional 541,575 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Baxter International during the second quarter valued at approximately $67,263,000. Finally, Coho Partners Ltd. bought a new stake in Baxter International during the third quarter valued at approximately $57,229,000. 90.19% of the stock is currently owned by institutional investors.

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.