Stifel Nicolaus Cuts Baxter International (NYSE:BAX) Price Target to $38.00

Baxter International (NYSE:BAX) had its price target cut by Stifel Nicolaus from $46.00 to $38.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

Other equities analysts also recently issued reports about the company. Wells Fargo & Company decreased their price target on Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 7th. StockNews.com raised Baxter International from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Morgan Stanley downgraded shares of Baxter International from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $39.00 to $30.00 in a research report on Monday, July 15th. The Goldman Sachs Group boosted 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. Finally, Citigroup lifted their price objective on Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.91.

Baxter International Stock Down 3.5 %

Shares of Baxter International stock 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. Baxter International has a one year low of $32.48 and a one year high of $44.01. The company has a market cap of $16.65 billion, a P/E ratio of 165.81, a PEG ratio of 11.44 and a beta of 0.60. The firm has a fifty day moving average of $37.23 and a two-hundred day moving average of $35.97.

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

Baxter International Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be given a dividend of $0.17 per share. 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 dividend payout ratio is 580.03%.

Institutional Investors Weigh In On Baxter International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of Baxter International by 73.2% in the second quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock worth $226,541,000 after buying an additional 2,862,626 shares during the last quarter. LSV Asset Management acquired a new stake in Baxter International during the second quarter valued at $140,296,000. Shapiro Capital Management LLC grew its position in shares of Baxter International by 19.7% in the second quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock valued at $109,885,000 after purchasing an additional 541,575 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Baxter International in the second quarter valued at about $67,263,000. Finally, Coho Partners Ltd. acquired a new stake in shares of Baxter International in the third quarter valued at about $57,229,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Baxter International Company Profile

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.