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

Shares of Baxter International Inc. (NYSE:BAX) have been assigned an average rating of “Hold” from the eleven analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $42.00.

BAX has been the subject of several recent research reports. Morgan Stanley downgraded shares of Baxter International from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $39.00 to $30.00 in a report on Monday, July 15th. Evercore ISI reduced their price objective on Baxter International from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. StockNews.com cut shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their target price on shares of Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 8th.

Baxter International Stock Up 3.5 %

NYSE:BAX opened at $36.33 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35. The company’s 50 day moving average is $37.48 and its two-hundred day moving average is $37.05. Baxter International has a twelve month low of $31.01 and a twelve month high of $44.01. The company has a market cap of $18.51 billion, a PE ratio of 6.99, a P/E/G ratio of 1.32 and a beta of 0.59.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The firm had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the business posted $0.55 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts anticipate that Baxter International will post 2.96 EPS for the current year.

Baxter International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date was Friday, August 30th. Baxter International’s dividend payout ratio is presently 22.31%.

Institutional Trading of Baxter International

Institutional investors and hedge funds have recently modified their holdings of the business. Gabelli Funds LLC boosted its holdings in shares of Baxter International by 9.6% in the 1st quarter. Gabelli Funds LLC now owns 286,200 shares of the medical instruments supplier’s stock valued at $12,232,000 after buying an additional 25,000 shares during the period. Van ECK Associates Corp bought a new stake in shares of Baxter International in the 1st quarter worth approximately $2,185,000. Russell Investments Group Ltd. boosted its position 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 purchasing an additional 84,808 shares during the period. Wintrust Investments LLC grew its stake 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 buying an additional 18,114 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in Baxter International by 33.5% in the first quarter. SG Americas Securities LLC now owns 92,912 shares of the medical instruments supplier’s stock worth $3,971,000 after buying an additional 23,306 shares during the period. 90.19% of the stock is owned by institutional investors and hedge funds.

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.