Baxter International Stock Rating Upgraded by Argus

On Monday, analysts at Argus upgraded the stock rating for Baxter International (NYSE:BAX) from "hold" to "buy." This change in rating reflects a positive outlook for the company and indicates that analysts believe now is a good time for investors to consider buying shares.

Recent Analyst Activity

Other analysts have recently shared their views on Baxter International's stock as well. StockNews.com downgraded the stock from a "buy" rating to a "hold" rating on November 11th. Earlier that same day, Stifel Nicolaus lowered their target price for the company's shares from $46 to $38 while maintaining a "buy" rating. Furthermore, JPMorgan Chase & Co. adjusted their price target from $38 to $36 and issued a "neutral" rating for the stock. Citigroup also reduced their target from $37 to $35, maintaining a "neutral" stance. Lastly, Barclays initiated coverage on Baxter International and provided an "overweight" rating along with a price target of $39. As of now, one analyst rates the stock as a sell, seven analysts recommend holding onto it, and four suggest buying, resulting in an average "Hold" rating and a consensus target price of approximately $38.80.

Baxter International's Stock Performance

On the same day as the upgrade, Baxter International's shares increased by 2.4%, rising $0.80 to reach $34.62 during midday trading. The trading volume was recorded at 866,829 shares, which is significantly lower than the average daily volume of 4.79 million shares. Over the past year, Baxter's stock has experienced a range, with a low of $28.33 and a high of $44.01. The company holds a market capitalization of $17.68 billion, a debt-to-equity ratio of 1.31, and a price-to-earnings ratio of -27.04.

Earnings Highlights

Baxter International recently released its earnings report on February 20th, posting earnings per share (EPS) of $0.58 for the latest quarter. This exceeded analysts' expectations, which had anticipated an EPS of $0.52. The company reported revenues of $2.75 billion, surpassing forecasts that estimated $2.67 billion. Analysts expect Baxter to deliver an EPS of 2.48 for the current fiscal year.

Institutional Ownership

Several institutional investors have made adjustments to their positions in Baxter International. CoreFirst Bank & Trust recently acquired a new stake worth about $26,000. Riverview Trust Co significantly increased its position by 5,488.2% during the fourth quarter, resulting in ownership of 950 shares valued at $28,000. Other notable changes include Fortitude Family Office LLC, which purchased shares worth around $38,000, and LRI Investments LLC, which raised its stake by 60.8%. Overall, around 90.19% of Baxter International's shares are owned by institutional investors.

About Baxter International

Baxter International Inc. operates through its subsidiaries to develop and provide a wide range of healthcare products globally. Its operations are divided into four main segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers various products including sterile intravenous solutions, infusion systems, parenteral nutrition therapies, and numerous advanced medical devices.

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