Baxter International (NYSE:BAX) Upgraded to “Buy” at Argus

Argus upgraded shares of Baxter International (NYSE:BAX) from a hold rating to a buy rating in a research note issued to investors on Monday, MarketBeat reports.

Several other research analysts have also issued reports on the company. StockNews.com lowered Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Stifel Nicolaus decreased their price target 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. Citigroup dropped their price objective on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Barclays began coverage on shares of Baxter International in a research note on Thursday, February 20th. They set an “overweight” rating and a $39.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $38.80.

Baxter International Trading Up 3.6 %

NYSE BAX opened at $35.05 on Monday. The stock has a 50-day moving average of $30.76 and a 200-day moving average of $34.08. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. Baxter International has a 1-year low of $28.33 and a 1-year high of $44.01. The firm has a market cap of $17.89 billion, a PE ratio of -27.38, a price-to-earnings-growth ratio of 10.62 and a beta of 0.61.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.06. The business had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. As a group, sell-side analysts forecast that Baxter International will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, February 28th. Baxter International’s dividend payout ratio (DPR) is presently -53.13%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. CoreFirst Bank & Trust purchased a new position in shares of Baxter International during the 4th quarter valued at about $26,000. Riverview Trust Co increased its stake in shares of Baxter International by 5,488.2% in the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 933 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Baxter International during the 3rd quarter valued at $38,000. LRI Investments LLC lifted its stake in shares of Baxter International by 60.8% during the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after buying an additional 590 shares in the last quarter. Finally, Bruce G. Allen Investments LLC raised its holdings in Baxter International by 247.3% during the fourth quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock valued at $76,000 after acquiring an additional 1,867 shares during the period. 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.