Morgan Stanley slashes price target on Baxter International Inc. [BAX] – find out why.

Baxter International Inc. [NYSE: BAX] gained 2.93% or 1.11 points to close at $38.99 with a heavy trading volume of 2825138 shares. The company report on January 4, 2024 at 4:15 PM that Baxter to Host Fourth-Quarter 2023 Financial Results Conference Call for Investors.

Baxter International Inc. (NYSE:BAX), a global medtech leader, will host a conference call to discuss its fourth-quarter 2023 financial results on Thursday, February 8, 2024 at 7:30 a.m. Central Time. To participate in this conference call please follow this link https://conferencingportals.com/event/etCeELhb to pre-register for the call and receive the call information.

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This call is also being webcast and can be accessed through Baxter’s website at www.baxter.com. The conference call will be recorded by Baxter and is copyrighted material. It cannot be recorded or rebroadcast without Baxter’s permission.

The daily chart for BAX points out that the company has recorded -20.35% loss over the past six months.

If we look at the average trading volume of 4.17M shares, BAX reached to a volume of 2825138 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Baxter International Inc. [BAX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BAX shares is $42.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BAX stock is a recommendation set at 2.44. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Baxter International Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on May 30, 2023.

The Average True Range (ATR) for Baxter International Inc. is set at 0.86, with the Price to Sales ratio for BAX stock in the period of the last 12 months amounting to 1.32. The Price to Book ratio for the last quarter was 2.44, with the Price to Cash per share for the same quarter was set at 11.42. Price to Free Cash Flow for BAX in the course of the last twelve months was 21.22 with Quick ratio for the last quarter at 1.48.

Trading performance analysis for BAX stock

Baxter International Inc. [BAX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.39. With this latest performance, BAX shares gained by 1.59% in over the last four-week period, additionally sinking by -20.35% over the last 6 months – not to mention a drop of -13.18% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BAX stock in for the last two-week period is set at 53.71, with the RSI for the last a single of trading hit 52.28, and the three-weeks RSI is set at 54.82 for Baxter International Inc. [BAX]. The present Moving Average for the last 50 days of trading for this stock 37.64, while it was recorded at 38.52 for the last single week of trading, and 40.35 for the last 200 days.

Baxter International Inc. [BAX]: A deeper dive into fundamental analysis

Baxter International Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.48 and a Current Ratio set at 1.94.

Baxter International Inc. [BAX]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Baxter International Inc. posted 0.88/share EPS, while the average EPS was predicted by analysts to be reported at 0.94/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -6.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BAX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Baxter International Inc. go to 4.07%.

An analysis of Institutional ownership at Baxter International Inc. [BAX]

The top three institutional holders of BAX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BAX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BAX stock with ownership which is approximately 5.8325%.