Will Wells Fargo New Ratings Coverage Help Baxter (NYSE:BAX) Stock Today?

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Wells Fargo Analyst Rating Change Baxter NYSE:BAX

Baxter (NYSE:BAX) New Coverage by Wells Fargo

Professional analysts at Wells Fargo started coverage on Baxter (NYSE:BAX) with Outperform rating. This was shared with investors and clients in a note on 13 October.

Despite the new coverage NYSE:BAX is currently trading 0.00% lower at $46.98 as of 04:01 New York time. Baxter shares have increased 23.18% in the last 200 days, while the S&P500 has surged 4.02% in the same time.

Out of 11 analysts covering Baxter, 3 rate it a Buy, 11 indicate a Hold while 1 suggest a Sell. The highest target is $60 and the lowest is $43 according to Thomson/First Call. The 12-month mean target is $48.82, which means upside potential of 3.92% over the current price.

NYSE:BAX Price Chart & Trend

The stock price of Baxter has increased 23.18% over the last 200 days, and is in mighty up trend. In the last 50 and 100 days, Baxter is down 2.82% and up 9.46%, respectively. Our stocks momentum model is shown on the price chart below.Will Wells Fargo New Ratings Coverage Help Baxter (NYSE:BAX) Stock Today?

Source: RightEdge Systems, Yahoo Split & Dividend Adjusted Data and OctaFinance Trading Models

Institutional Ownership

Sector Gamma As had the most significant stake with ownership of 713,500 shares as of q2 2015 for 12.74% of the fund’s portfolio. Veritas Asset Management Llp is another quite bullish investment professional who is possessing 7.64M shares of Baxter or 7.53% of their fund’s portfolio. Also, Gabalex Capital Management Llc have 5.39% of their fund’s portfolio invested in the company for 200,000 shares. The United Kingdom-based fund Veritas Investment Management Llp revealed it had acquired a stake worth about 5.32% of the investment professional’s stock portfolio in Baxter. The Connecticut-based fund Tweedy Browne Co Llc is also positive about the stock, possessing 291,825 shares or 4.91% of their fund’s portfolio.Over the last six months, Baxter NYSE:BAX has seen 1 buy, and 1 insider selling transaction. The net result was for 2 transactions, worth $416,045.

Baxter (NYSE:BAX) Profile

Baxter International IncBaxter International Inc., through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures IV solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, infusion pumps, inhalation anesthetics, and biosurgery products.

Baxter (NYSE:BAX) closed at $46.98 yesterday. A total of 5,470 shares of the company’s stock traded hands. This is down from average of 4.11 million shares. Baxter has a 52 week low of $32.92 and a 52 week high of $49.49. The company has a market cap of $25.54 billion and a P/E ratio of 5.42.

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