Baxter International (NYSE:BAX) Downgraded by StockNews.com

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

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group boosted their target price on shares of Baxter International from $36.00 to $40.00 and gave the stock a neutral rating in a report on Thursday, August 8th. Morgan Stanley downgraded shares of Baxter International from an equal weight rating to an underweight rating and lowered their target price for the stock from $39.00 to $30.00 in a report on Monday, July 15th. JPMorgan Chase & Co. lowered their target price on shares of Baxter International from $44.00 to $42.00 and set a neutral rating on the stock in a report on Wednesday, August 7th. Evercore ISI lowered their target price on shares of Baxter International from $46.00 to $45.00 and set an outperform rating on the stock in a report on Tuesday, July 2nd. Finally, Citigroup lowered their target price on shares of Baxter International from $38.00 to $37.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $41.73.

Baxter International Price Performance

Shares of NYSE:BAX opened at $39.27 on Monday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91. Baxter International has a 1-year low of $31.01 and a 1-year high of $44.01. The company has a market capitalization of $20.01 billion, a P/E ratio of 7.55, a P/E/G ratio of 1.32 and a beta of 0.59. The firm’s 50 day simple moving average is $36.31 and its two-hundred day simple moving average is $37.48.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.02. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Research analysts expect that Baxter International will post 2.96 EPS for the current fiscal year.

Baxter International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Friday, August 30th. Baxter International’s payout ratio is 22.31%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in Baxter International by 73.2% during the second quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock valued at $226,541,000 after acquiring an additional 2,862,626 shares during the last quarter. Carmignac Gestion grew its holdings in shares of Baxter International by 9.5% in the fourth quarter. Carmignac Gestion now owns 5,311,012 shares of the medical instruments supplier’s stock worth $205,324,000 after purchasing an additional 462,239 shares during the last quarter. LSV Asset Management bought a new position in shares of Baxter International in the second quarter worth about $140,296,000. Shapiro Capital Management LLC grew its holdings 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 worth $109,885,000 after purchasing an additional 541,575 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC bought a new position in shares of Baxter International in the second quarter worth about $67,263,000. 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.