Baxter International Inc. (NYSE:BAX) Given Average Recommendation of “Hold” by Brokerages

Baxter International Inc. (NYSE:BAX) has been given an average rating of “Hold” by the eleven brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $40.91.

A number of brokerages recently weighed in on BAX. Wells Fargo & Company decreased their price objective on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group upped their price target on Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Citigroup lifted their price objective on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Stifel Nicolaus decreased their target price on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. dropped their price target on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th.

Baxter International Price Performance

BAX stock opened at $33.21 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. The firm has a 50 day moving average price of $36.21 and a 200-day moving average price of $35.67. Baxter International has a 52-week low of $31.60 and a 52-week high of $44.01. The firm has a market capitalization of $16.96 billion, a price-to-earnings ratio of 166.06, a PEG ratio of 13.10 and a beta of 0.60.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts forecast that Baxter International will post 1.98 EPS for the current fiscal year.

Baxter International Cuts Dividend

The business also recently disclosed 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 2.05%. The ex-dividend date of this dividend is Friday, November 29th. Baxter International’s payout ratio is currently 580.03%.

Hedge Funds Weigh In On Baxter International

Several institutional investors have recently bought and sold shares of BAX. TD Private Client Wealth LLC raised its holdings in shares of Baxter International by 29.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 41,027 shares of the medical instruments supplier’s stock worth $1,558,000 after acquiring an additional 9,357 shares in the last quarter. Toronto Dominion Bank increased its position in Baxter International by 15.4% in the third quarter. Toronto Dominion Bank now owns 170,855 shares of the medical instruments supplier’s stock worth $6,487,000 after purchasing an additional 22,787 shares during the last quarter. Empire Financial Management Company LLC lifted its position in Baxter International by 263.3% during the third quarter. Empire Financial Management Company LLC now owns 26,907 shares of the medical instruments supplier’s stock valued at $1,022,000 after purchasing an additional 19,500 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Baxter International by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock worth $460,022,000 after buying an additional 170,776 shares in the last quarter. Finally, LRI Investments LLC increased its holdings in shares of Baxter International by 60.8% in the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after buying an additional 590 shares during the last quarter. 90.19% of the stock is owned by hedge funds and other institutional investors.

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.