Baxter International (NYSE:BAX) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research began coverage on shares of Baxter International (NYSE:BAX) in a report issued on Tuesday, MarketBeat.com reports. The firm set a “peer perform” rating on the medical instruments supplier’s stock.

Several other research firms also recently issued reports on BAX. Zacks Research upgraded Baxter International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. TD Cowen increased their price objective on Baxter International from $20.00 to $24.00 and gave the stock a “hold” rating in a research report on Monday, July 27th. Stifel Nicolaus lifted their target price on Baxter International from $19.00 to $24.00 and gave the stock a “hold” rating in a report on Tuesday, July 28th. Citigroup dropped their target price on Baxter International from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Finally, UBS Group boosted their target price on shares of Baxter International from $19.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $21.73.

Baxter International Stock Performance

Baxter International stock traded down $1.25 during trading hours on Tuesday, hitting $23.74. The company had a trading volume of 1,251,380 shares, compared to its average volume of 7,770,873. The firm has a market cap of $12.27 billion, a PE ratio of -11.56, a PEG ratio of 3.82 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 firm has a 50-day moving average of $24.92 and a 200 day moving average of $21.95.

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

Hedge Funds Weigh In On Baxter International

Several hedge funds have recently bought and sold shares of BAX. Jones Financial Companies Lllp bought a new stake in shares of Baxter International during the 2nd quarter worth approximately $26,000. CYBER HORNET ETFs LLC increased its stake in Baxter International by 52.4% in the second quarter. CYBER HORNET ETFs LLC now owns 2,153 shares of the medical instruments supplier’s stock valued at $46,000 after acquiring an additional 740 shares during the last quarter. Community Bank N.A. bought a new position in Baxter International in the second quarter valued at approximately $46,000. Versant Capital Management Inc increased its stake in Baxter International by 552.2% in the second quarter. Versant Capital Management Inc now owns 2,413 shares of the medical instruments supplier’s stock valued at $51,000 after acquiring an additional 2,043 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in Baxter International during the third quarter valued at approximately $75,000. 90.19% of the stock is owned by institutional investors.

About Baxter International

Baxter International Inc is a global medical products and healthcare technology company headquartered in Deerfield, Illinois. The company develops, manufactures and distributes products used in hospitals, clinics, ambulatory care centers and other healthcare settings.

Baxter’s portfolio has included intravenous therapies and administration systems, infusion pumps, connected-care technologies, surgical products, patient monitoring equipment and products used in medication preparation and delivery.