Baxter International (NYSE:BAX) Now Covered by The Goldman Sachs Group

Stock analysts at The Goldman Sachs Group started coverage on shares of Baxter International (NYSE:BAX) in a report released on Wednesday. The firm set a “buy” rating and a $42.00 price target on the medical instruments supplier’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 16.66% from the stock’s previous close.

Other research analysts also recently issued reports about the company. StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Monday. Stifel Nicolaus reduced their target price on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Citigroup lowered their price target on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, Barclays initiated coverage on Baxter International in a research note on Thursday, February 20th. They set an “overweight” rating and a $39.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $39.00.

Baxter International Stock Performance

BAX opened at $36.00 on Wednesday. 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 has a market capitalization of $18.38 billion, a price-to-earnings ratio of -28.13, a PEG ratio of 0.93 and a beta of 0.61. The company has a fifty day moving average of $30.89 and a 200 day moving average of $34.07. Baxter International has a fifty-two week low of $28.33 and a fifty-two week high of $44.01.

Baxter International (NYSE:BAX) last issued its quarterly earnings data 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. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.67 billion. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. As a group, sell-side analysts forecast that Baxter International will post 2.48 earnings per share for the current fiscal year.

Institutional Trading of Baxter International

Hedge funds have recently added to or reduced their stakes in the business. CoreFirst Bank & Trust bought a new position in shares of Baxter International during the fourth quarter valued at approximately $26,000. Riverview Trust Co increased its position in Baxter International by 5,488.2% during the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 933 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of Baxter International in the 3rd quarter valued at approximately $38,000. LRI Investments LLC raised its holdings in shares of Baxter International by 60.8% in the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after buying an additional 590 shares during the last quarter. Finally, Bruce G. Allen Investments LLC raised its stake in Baxter International by 247.3% in the 4th quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock worth $76,000 after acquiring an additional 1,867 shares during the last quarter. 90.19% of the stock is owned by hedge funds and other 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.