Baxter International (NYSE:BAX) Stock Price Target Cut by Citigroup

Baxter International (NYSE:BAX) had its target price reduced by equities research analysts at Citigroup from $28.00 to $27.00 in a report released on Monday, Benzinga reports. The firm presently has a “neutral” rating on the medical instruments supplier’s stock. Citigroup’s price objective indicates a potential upside of 11.59% from the stock’s current price.

A number of other research firms have also commented on BAX. Weiss Ratings raised shares of Baxter International from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, July 31st. TD Cowen increased their price target on Baxter International from $20.00 to $24.00 and gave the company a “hold” rating in a research note on Monday, July 27th. UBS Group raised their price target on Baxter International from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, July 28th. Stifel Nicolaus lifted their price objective on Baxter International from $19.00 to $24.00 and gave the stock a “hold” rating in a research note on Tuesday, July 28th. Finally, Zacks Research upgraded Baxter International from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Baxter International currently has a consensus rating of “Hold” and an average price target of $22.36.

Baxter International Trading Up 3.0%

Shares of NYSE BAX traded up $0.70 during mid-day trading on Monday, hitting $24.20. The company’s stock had a trading volume of 6,677,446 shares, compared to its average volume of 7,936,904. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of -11.72, a price-to-earnings-growth ratio of 3.55 and a beta of 0.65. 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 has a one year low of $15.73 and a one year high of $30.00. The company’s fifty day simple moving average is $25.32 and its 200-day simple moving average is $21.33.

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

Institutional Trading of Baxter International

Hedge funds and other institutional investors have recently modified their holdings of the company. CX Institutional boosted its holdings in Baxter International by 2.3% during the third quarter. CX Institutional now owns 19,858 shares of the medical instruments supplier’s stock worth $477,000 after purchasing an additional 448 shares during the last quarter. Core Capital Management & Research inc. bought a new stake in Baxter International during the 2nd quarter worth about $202,000. Tidal Investments LLC boosted its stake in shares of Baxter International by 22.8% during the 2nd quarter. Tidal Investments LLC now owns 164,400 shares of the medical instruments supplier’s stock worth $3,505,000 after buying an additional 30,510 shares during the last quarter. Cidel Asset Management Inc. grew its holdings in shares of Baxter International by 15.9% in the 2nd quarter. Cidel Asset Management Inc. now owns 12,143 shares of the medical instruments supplier’s stock valued at $259,000 after acquiring an additional 1,663 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Baxter International in the second quarter valued at about $161,000. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Company Profile

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.