Baxter International’s Neutral Rating Reaffirmed at Citigroup Inc. (BAX)
Baxter International (NYSE:BAX)‘s stock had its “neutral” rating reaffirmed by stock analysts at Citigroup Inc. in a report issued on Monday, American Banking and Market News reports. They currently have a $70.00 target price on the stock, down from their previous target price of $75.00. Citigroup Inc.’s price objective suggests a potential upside of 6.06% from the stock’s previous close.
The analysts wrote, “We have (finally) added in Gambro and have fine-tuned our forecasts for the generic risks to Suprane and Endoxan, which have taken a back seat to Advate but should be more impactful next year. While we were already well below Street views, our analysis now includes more specific modeling of the margin hit for each of these changes and we have lowered our estimates further.”
Shares of Baxter International (NYSE:BAX) traded up 0.02% on Monday, hitting $66.01. 1,046,744 shares of the company’s stock traded hands. Baxter International has a 1-year low of $60.61 and a 1-year high of $74.60. The stock has a 50-day moving average of $68.9 and a 200-day moving average of $70.62. The company has a market cap of $35.829 billion and a price-to-earnings ratio of 16.47.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.03. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the previous year, the company posted $1.12 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, analysts predict that Baxter International will post $4.67 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Baxter International in a research note to investors on Friday, October 4th. They now have a $76.00 price target on the stock. Separately, analysts at RBC Capital cut their price target on shares of Baxter International from $77.00 to $73.00 in a research note to investors on Friday, October 4th. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse downgraded shares of Baxter International from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, October 2nd. They now have a $73.00 price target on the stock, down previously from $81.00. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Baxter International presently has a consensus rating of “Buy” and an average price target of $76.38.
Baxter International Inc (NYSE:BAX) is a global, diversified healthcare company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.