The Goldman Sachs Group Initiates Coverage on Baxter International (NYSE:BAX)

Stock analysts at The Goldman Sachs Group assumed coverage on shares of Baxter International (NYSE:BAX) in a research report issued to clients and investors on Wednesday. The brokerage set a “buy” rating and a $42.00 price target on the medical instruments supplier’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 16.66% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Argus raised shares of Baxter International from a “hold” rating to a “buy” rating in a report on Monday. Barclays assumed coverage on shares of Baxter International in a research report on Thursday, February 20th. They issued an “overweight” rating and a $39.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. StockNews.com cut Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Citigroup cut their price objective on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $39.00.

Baxter International Trading Up 2.6 %

BAX stock opened at $36.00 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. Baxter International has a 52-week low of $28.33 and a 52-week high of $44.01. The company’s 50-day simple moving average is $30.89 and its 200-day simple moving average is $34.07. The firm has a market cap of $18.38 billion, a P/E ratio of -28.13, a PEG ratio of 0.93 and a beta of 0.61.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. The company had revenue of $2.75 billion for 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, equities analysts forecast that Baxter International will post 2.48 EPS for the current fiscal year.

Institutional Investors Weigh In On Baxter International

Several hedge funds and other institutional investors have recently made changes to their positions in BAX. Forsta AP Fonden grew its holdings in Baxter International by 6.9% in the 3rd quarter. Forsta AP Fonden now owns 113,900 shares of the medical instruments supplier’s stock valued at $4,325,000 after buying an additional 7,400 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of Baxter International during the 3rd quarter valued at about $38,000. Cigna Investments Inc. New purchased a new stake in shares of Baxter International in the third quarter valued at about $201,000. Farther Finance Advisors LLC grew its holdings in shares of Baxter International by 23.2% in the third quarter. Farther Finance Advisors LLC now owns 2,519 shares of the medical instruments supplier’s stock valued at $96,000 after purchasing an additional 475 shares during the period. Finally, Van ECK Associates Corp increased its position in Baxter International by 11.1% during the third quarter. Van ECK Associates Corp now owns 61,878 shares of the medical instruments supplier’s stock worth $2,257,000 after purchasing an additional 6,168 shares during the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

About Baxter International

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.