Baxter International (NYSE:BAX) Stock Picked Up by Analysts at Barclays

Research analysts at Barclays initiated coverage on shares of Baxter International (NYSE:BAX) in a research report issued on Wednesday, Marketbeat.com reports. The brokerage set an “underweight” rating and a $20.00 price target on the medical instruments supplier’s stock. Barclays‘s price objective suggests a potential downside of 16.36% from the company’s current price.

BAX has been the subject of several other reports. Citigroup dropped their target price on shares of Baxter International from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday. Zacks Research upgraded shares of Baxter International from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of Baxter International from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Weiss Ratings upgraded shares of Baxter International from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Finally, TD Cowen raised their price target on Baxter International from $20.00 to $24.00 and gave the company a “hold” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $21.73.

Baxter International Stock Down 0.2%

BAX opened at $23.91 on Wednesday. The firm has a market capitalization of $12.36 billion, a P/E ratio of -11.55, a price-to-earnings-growth ratio of 3.63 and a beta of 0.65. Baxter International has a one year low of $15.73 and a one year high of $30.00. The company has a fifty day moving average price of $25.27 and a 200-day moving average price of $21.53. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.95 and a quick ratio of 1.32.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, July 30th. The medical instruments supplier reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.19. Baxter International had a positive return on equity of 16.57% and a negative net margin of 9.27%.The company had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the company earned $0.59 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. Baxter International has set its FY 2026 guidance at 1.950-2.150 EPS. Equities research analysts expect that Baxter International will post 2.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Baxter International

Hedge funds and other institutional investors have recently modified their holdings of the company. Pzena Investment Management LLC bought a new position in Baxter International during the 2nd quarter valued at approximately $1,392,098,000. Tocqueville Asset Management L.P. purchased a new stake in Baxter International in the 2nd quarter worth approximately $30,604,000. BlackRock Inc. bought a new stake in shares of Baxter International in the 2nd quarter worth approximately $1,744,874,000. AMG National Trust Bank purchased a new position in shares of Baxter International during the second quarter valued at approximately $2,522,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Baxter International during the second quarter valued at approximately $51,958,000. 90.19% of the stock is owned by institutional investors.

About Baxter International

Baxter International Inc is a global healthcare company that develops and markets products used in hospitals, outpatient facilities and other care settings. Its portfolio includes intravenous solutions and administration sets, infusion pumps, parenteral nutrition products, injectable medicines, surgical products and systems for medication preparation and delivery.

The company also provides products and technologies that support anesthesia, critical care, patient monitoring and other hospital workflows.