Today: The Baxter International Inc. (BAX) Earns Outperform Rating from Analysts at Wells Fargo & Co.

The Baxter International Inc. (BAX) Earns Outperform Rating from Analysts at Wells Fargo & Co.

Wells Fargo & Co. started coverage on shares of Baxter International Inc. (NYSE:BAX) in a research report released on Thursday. The brokerage issued an outperform rating on the stock.

BAX has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective on Baxter International from $45.00 to $48.00 and gave the stock a neutral rating in a research report on Wednesday, July 27th. RBC Capital Markets reaffirmed a hold rating and set a $50.00 target price (up from $47.00) on shares of Baxter International in a research note on Wednesday, July 27th. Zacks Investment Research downgraded Baxter International from a hold rating to a sell rating in a research note on Tuesday, July 19th. Goldman Sachs Group Inc. reaffirmed a buy rating on shares of Baxter International in a research note on Wednesday, July 6th. Finally, Barclays PLC assumed coverage on Baxter International in a research note on Thursday, September 15th. They set an overweight rating and a $52.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $48.17.

Baxter International (NYSE:BAX) opened at 47.37 on Thursday. The stock has a market capitalization of $25.76 billion, a price-to-earnings ratio of 5.44 and a beta of 0.70. The firm’s 50-day moving average is $47.06 and its 200 day moving average is $45.68. Baxter International has a 1-year low of $33.88 and a 1-year high of $49.49.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. Baxter International had a return on equity of 10.70% and a net margin of 47.74%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the firm posted $1.00 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Baxter International will post $1.73 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Baxter International by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 5,530,764 shares of the company’s stock worth $250,102,000 after buying an additional 343,725 shares in the last quarter. Geode Capital Management LLC boosted its position in Baxter International by 1.9% in the first quarter. Geode Capital Management LLC now owns 4,375,204 shares of the company’s stock worth $179,363,000 after buying an additional 82,132 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in Baxter International by 1.0% in the second quarter. TIAA CREF Investment Management LLC now owns 3,966,516 shares of the company’s stock worth $179,366,000 after buying an additional 39,887 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Baxter International by 753.5% in the second quarter. BNP Paribas Arbitrage SA now owns 2,281,030 shares of the company’s stock worth $103,148,000 after buying an additional 2,013,786 shares in the last quarter. Finally, California Public Employees Retirement System boosted its position in Baxter International by 39.5% in the second quarter. California Public Employees Retirement System now owns 2,059,667 shares of the company’s stock worth $93,138,000 after buying an additional 583,144 shares in the last quarter. 84.38% of the stock is owned by institutional investors and hedge funds.

Baxter International Company Profile

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