Baxter International Downgraded by Raymond James to “Market Perform” (BAX)
Baxter International (NYSE:BAX) was downgraded by stock analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Friday, TheFlyOnTheWall.com reports. They currently have a $80.00 price objective on the stock. Raymond James’ price target suggests a potential upside of 18.98% from the stock’s previous close.
Shares of Baxter International (NYSE:BAX) traded down 1.38% during mid-day trading on Friday, hitting $66.31. 3,598,117 shares of the company’s stock traded hands. Baxter International has a one year low of $60.81 and a one year high of $74.60. The stock has a 50-day moving average of $68.53 and a 200-day moving average of $70.49. The company has a market cap of $35.992 billion and a price-to-earnings ratio of 16.78.
Baxter International (NYSE:BAX) last released its earnings data on Thursday, October 17th. The company reported $1.19 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $1.19. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the prior year, the company posted $1.14 earnings per share. The company’s quarterly revenue was up 9.5% 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 Citigroup Inc. reiterated a “neutral” rating on shares of Baxter International in a research note to investors on Monday. They now have a $70.00 price target on the stock, down previously from $75.00. Separately, 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. Finally, 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. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $76.47.
Baxter International Inc (NYSE:BAX) is a global, diversified healthcare company.
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