Baxter International Inc. (NYSE:BAX) Receives Average Recommendation of “Hold” from Analysts

Shares of Baxter International Inc. (NYSE:BAX) have been given an average recommendation of “Hold” by the eleven ratings firms that are covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $44.42.

Several equities analysts have weighed in on the company. Citigroup lowered their target price on Baxter International from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Bank of America boosted their price target on Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. TD Cowen cut Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research note on Friday, May 10th. Finally, The Goldman Sachs Group assumed coverage on Baxter International in a research note on Thursday, May 30th. They issued a “neutral” rating and a $36.00 price target for the company.

Baxter International Stock Performance

BAX stock opened at $33.91 on Thursday. Baxter International has a 1 year low of $31.01 and a 1 year high of $50.21. The stock’s fifty day moving average is $35.69 and its two-hundred day moving average is $38.77. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48. The stock has a market capitalization of $17.28 billion, a price-to-earnings ratio of 6.52, a PEG ratio of 1.77 and a beta of 0.61.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The business had revenue of $3.59 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same period in the previous year, the business earned $0.59 earnings per share. The company’s revenue was down 1.6% on a year-over-year basis. On average, research analysts predict that Baxter International will post 2.91 EPS for the current year.

Baxter International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, May 31st. Baxter International’s dividend payout ratio (DPR) is presently 22.31%.

Hedge Funds Weigh In On Baxter International

Several hedge funds have recently added to or reduced their stakes in BAX. Ameriprise Financial Inc. raised its position in shares of Baxter International by 11.3% during the third quarter. Ameriprise Financial Inc. now owns 10,836,563 shares of the medical instruments supplier’s stock worth $408,992,000 after purchasing an additional 1,098,787 shares during the period. Carmignac Gestion raised its position in shares of Baxter International by 9.5% during the fourth quarter. Carmignac Gestion now owns 5,311,012 shares of the medical instruments supplier’s stock worth $205,324,000 after purchasing an additional 462,239 shares during the period. Shapiro Capital Management LLC bought a new position in shares of Baxter International during the third quarter worth about $114,307,000. Russell Investments Group Ltd. grew its holdings in shares of Baxter International by 7.6% during the first quarter. Russell Investments Group Ltd. now owns 1,206,242 shares of the medical instruments supplier’s stock worth $51,553,000 after buying an additional 84,808 shares in the last quarter. Finally, Impax Asset Management Group plc grew its holdings in shares of Baxter International by 46.8% during the fourth quarter. Impax Asset Management Group plc now owns 1,170,655 shares of the medical instruments supplier’s stock worth $45,258,000 after buying an additional 373,409 shares in the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.