Baxter International (NYSE:BAX) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Baxter International (NYSE:BAX) from a buy rating to a hold rating in a report released on Monday morning.

Other analysts also recently issued research reports about the company. Stifel Nicolaus lowered their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company lowered their price objective on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 7th. The Goldman Sachs Group increased their price objective on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Citigroup upped their price objective on shares of Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Finally, Morgan Stanley cut shares of Baxter International from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $39.00 to $30.00 in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $40.91.

Baxter International Stock Down 3.5 %

Shares of NYSE BAX opened at $32.64 on Monday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40. The stock has a 50 day moving average price of $37.23 and a 200 day moving average price of $35.97. The firm has a market capitalization of $16.65 billion, a price-to-earnings ratio of 165.81, a PEG ratio of 11.44 and a beta of 0.60. Baxter International has a 52-week low of $32.48 and a 52-week high of $44.01.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.85 billion. Baxter International had a return on equity of 18.19% and a net margin of 0.77%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.68 earnings per share. Sell-side analysts expect that Baxter International will post 2.33 earnings per share for the current year.

Baxter International Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, November 29th. Baxter International’s payout ratio is 580.03%.

Institutional Investors Weigh In On Baxter International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gabelli Funds LLC lifted its position in Baxter International by 9.6% during the 1st quarter. Gabelli Funds LLC now owns 286,200 shares of the medical instruments supplier’s stock worth $12,232,000 after acquiring an additional 25,000 shares during the period. Russell Investments Group Ltd. increased its holdings in Baxter International by 7.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,206,242 shares of the medical instruments supplier’s stock valued at $51,553,000 after acquiring an additional 84,808 shares in the last quarter. Coho Partners Ltd. purchased a new stake in Baxter International in the 3rd quarter valued at approximately $57,229,000. Wintrust Investments LLC increased its position in Baxter International by 76.8% during the 1st quarter. Wintrust Investments LLC now owns 41,708 shares of the medical instruments supplier’s stock worth $1,783,000 after purchasing an additional 18,114 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Baxter International by 8.7% in the third quarter. Handelsbanken Fonder AB now owns 217,629 shares of the medical instruments supplier’s stock valued at $8,263,000 after buying an additional 17,450 shares during the last quarter. Hedge funds and other institutional investors 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.