Baxter International (NYSE:BAX) Upgraded by Argus to Buy Rating

Baxter International (NYSE:BAX - Get Free Report) was upgraded by stock analysts at Argus from a "hold" rating to a "buy" rating in a report released on Monday, MarketBeat Ratings reports.

BAX has been the subject of several other research reports. Stifel Nicolaus cut their target price 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. Barclays began coverage on shares of Baxter International in a report on Thursday, February 20th. They issued an "overweight" rating and a $39.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of Baxter International from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Friday, February 21st. StockNews.com downgraded shares of Baxter International from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. Finally, Citigroup reduced their price objective on 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 analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $39.00.

Baxter International Price Performance

Shares of Baxter International stock traded down $0.20 on Monday, hitting $35.07. 3,729,343 shares of the company traded hands, compared to its average volume of 5,122,062. Baxter International has a 12-month low of $28.33 and a 12-month high of $44.01. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The company has a market cap of $17.94 billion, a P/E ratio of -27.39, a P/E/G ratio of 0.93 and a beta of 0.61. The firm's 50-day simple moving average is $31.01 and its 200 day simple moving average is $34.08.

Baxter International (NYSE:BAX - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share 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 for the quarter, compared to the consensus estimate of $2.67 billion. Analysts expect that Baxter International will post 2.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BAX. Dodge & Cox lifted its holdings in Baxter International by 13.0% in the 4th quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier's stock worth $1,469,002,000 after buying an additional 5,779,100 shares during the period. Bank of New York Mellon Corp lifted its stake in Baxter International by 22.3% in the fourth quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier's stock worth $447,870,000 after acquiring an additional 2,803,920 shares during the period. Sound Shore Management Inc. CT purchased a new stake in Baxter International in the fourth quarter worth $72,450,000. Thompson Siegel & Walmsley LLC boosted its holdings in Baxter International by 35.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,548,215 shares of the medical instruments supplier's stock valued at $74,306,000 after acquiring an additional 662,042 shares in the last quarter. Finally, ARGA Investment Management LP increased its position in Baxter International by 148.8% during the 4th quarter. ARGA Investment Management LP now owns 870,601 shares of the medical instruments supplier's stock valued at $25,387,000 after purchasing an additional 520,633 shares during the period. Hedge funds and other institutional investors own 90.19% of the company's stock.

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.