Argus Upgrades Baxter International (NYSE:BAX) to Buy

Baxter International (NYSE:BAX - Get Free Report) was upgraded by equities researchers at Argus from a "hold" rating to a "buy" rating in a research report issued on Monday, MarketBeat reports.

Other equities analysts have also issued research reports about the company. Citigroup lowered their target price 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. Stifel Nicolaus cut their price target on shares of Baxter International from $46.00 to $38.00 and set a "buy" rating for the company in a report on Monday, November 11th. StockNews.com lowered Baxter International from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on shares of Baxter International from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Finally, Barclays initiated coverage on shares of Baxter International in a report on Thursday, February 20th. They set an "overweight" rating and a $39.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $39.00.

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Baxter International Stock Performance

Baxter International stock traded down $0.43 during midday trading on Monday, reaching $34.50. 4,779,945 shares of the company's stock were exchanged, compared to its average volume of 5,111,300. 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 stock's 50-day simple moving average is $31.13 and its 200 day simple moving average is $34.09. The firm has a market cap of $17.65 billion, a price-to-earnings ratio of -26.95, a P/E/G ratio of 0.93 and a beta of 0.61. Baxter International has a 52 week low of $28.33 and a 52 week high of $44.01.

Baxter International (NYSE:BAX - Get Free Report) last issued its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 EPS for the quarter, topping the consensus estimate 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 company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.67 billion. On average, analysts expect that Baxter International will post 2.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Baxter International

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Group Inc. raised its stake in Baxter International by 1.9% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier's stock worth $33,845,000 after buying an additional 21,592 shares during the period. Nicholas Hoffman & Company LLC. bought a new stake in shares of Baxter International during the fourth quarter valued at approximately $907,000. Geode Capital Management LLC raised its position in shares of Baxter International by 1.4% during the third quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier's stock worth $460,022,000 after purchasing an additional 170,776 shares during the period. Entropy Technologies LP lifted its holdings in shares of Baxter International by 213.5% in the 3rd quarter. Entropy Technologies LP now owns 23,192 shares of the medical instruments supplier's stock worth $881,000 after purchasing an additional 15,794 shares in the last quarter. Finally, Toronto Dominion Bank grew its position in Baxter International by 15.4% in the 3rd quarter. Toronto Dominion Bank now owns 170,855 shares of the medical instruments supplier's stock valued at $6,487,000 after purchasing an additional 22,787 shares during the period. 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.