TD Cowen Forecasts Strong Price Appreciation for Baxter International (NYSE:BAX) Stock

Baxter International (NYSE:BAX) had its price target boosted by equities researchers at TD Cowen from $20.00 to $24.00 in a report released on Monday,Benzinga reports. The firm presently has a “hold” rating on the medical instruments supplier’s stock. TD Cowen’s price objective indicates a potential upside of 3.33% from the stock’s current price.

A number of other research firms have also weighed in on BAX. Stifel Nicolaus dropped their price objective on Baxter International from $20.00 to $19.00 in a research note on Friday, May 1st. Citigroup cut shares of Baxter International from a “neutral” rating to a “sell” rating and dropped their price target for the company from $19.00 to $17.00 in a research report on Thursday, May 28th. Zacks Research downgraded Baxter International from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Barclays raised their target price on shares of Baxter International from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, The Goldman Sachs Group upped their target price on Baxter International from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $20.27.

Baxter International Trading Up 3.7%

BAX stock traded up $0.83 during trading on Monday, hitting $23.23. The company had a trading volume of 1,021,020 shares, compared to its average volume of 8,252,819. The firm has a 50-day moving average price of $20.70 and a 200-day moving average price of $19.44. The company has a quick ratio of 1.23, a current ratio of 1.85 and a debt-to-equity ratio of 1.43. The stock has a market cap of $12.00 billion, a price-to-earnings ratio of -10.92, a PEG ratio of 3.62 and a beta of 0.62. Baxter International has a 12 month low of $15.73 and a 12 month high of $29.35.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.05. The firm had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Baxter International had a positive return on equity of 16.15% and a negative net margin of 9.70%.The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.62 EPS. As a group, analysts predict that Baxter International will post 1.91 earnings per share for the current year.

Institutional Trading of Baxter International

Several institutional investors have recently made changes to their positions in BAX. Imprint Wealth LLC purchased a new stake in shares of Baxter International in the 3rd quarter valued at about $27,000. Basepoint Wealth LLC bought a new position in shares of Baxter International in the 4th quarter valued at approximately $26,000. MUFG Securities EMEA plc bought a new position in Baxter International during the second quarter valued at about $46,000. Los Angeles Capital Management LLC purchased a new position in Baxter International during the fourth quarter worth $46,000. Finally, Versant Capital Management Inc lifted its position in Baxter International by 552.2% during the second quarter. Versant Capital Management Inc now owns 2,413 shares of the medical instruments supplier’s stock valued at $51,000 after purchasing an additional 2,043 shares during the period. Hedge funds and other institutional investors own 90.19% of the company’s stock.

About Baxter International

Baxter International Inc is a global healthcare company that develops, manufactures and markets a broad portfolio of medical products, pharmaceutical therapies and biotechnology-based solutions. The company’s primary business activities are organized around renal care, medication delivery, acute therapies, pharmacy automation, surgical care and biotechnology. Baxter’s offerings are designed to support patient care in hospitals, dialysis centers, nursing homes and other healthcare facilities worldwide.

In the renal care segment, Baxter provides hemodialysis and peritoneal dialysis systems, water treatment equipment and related disposables, including dialyzers, bloodlines and catheters.