Baxter International (NYSE:BAX) Price Target Raised to $21.00

Baxter International (NYSE:BAX) had its target price lifted by The Goldman Sachs Group from $19.00 to $21.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the medical instruments supplier’s stock.

A number of other research analysts have also weighed in on the stock. Stifel Nicolaus decreased their price target on shares of Baxter International from $20.00 to $19.00 in a research note on Friday, May 1st. Zacks Research cut Baxter International from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Barclays boosted their price objective on Baxter International from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Evercore reduced their target price on Baxter International from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Finally, TD Cowen decreased their target price on Baxter International from $22.00 to $20.00 in a research report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $19.91.

Baxter International Price Performance

Shares of NYSE BAX opened at $22.61 on Wednesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.85. The firm has a fifty day moving average of $20.25 and a 200 day moving average of $19.35. The firm has a market cap of $11.67 billion, a PE ratio of -10.61, a PEG ratio of 3.77 and a beta of 0.62. Baxter International has a one year low of $15.73 and a one year high of $29.35.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. Baxter International had a negative net margin of 9.70% and a positive return on equity of 16.15%. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same period last year, the firm posted $0.62 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. As a group, research analysts predict that Baxter International will post 1.91 EPS for the current fiscal year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, May 29th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Baxter International’s dividend payout ratio (DPR) is -1.88%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Basepoint Wealth LLC acquired a new stake in Baxter International during the fourth quarter worth about $26,000. Imprint Wealth LLC acquired a new position in Baxter International in the 3rd quarter valued at about $27,000. MUFG Securities EMEA plc purchased a new stake in shares of Baxter International in the 2nd quarter valued at approximately $46,000. Los Angeles Capital Management LLC purchased a new stake in shares of Baxter International in the 4th quarter valued at approximately $46,000. Finally, Versant Capital Management Inc grew its stake in shares of Baxter International by 552.2% in the 2nd quarter. Versant Capital Management Inc now owns 2,413 shares of the medical instruments supplier’s stock valued at $51,000 after buying an additional 2,043 shares during the period. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Baxter International Company Profile

Baxter International Inc is a global healthcare company that develops, manufactures and markets a broad portfolio of medical products, pharmaceutical therapies and biotechnology-based solutions. The company’s primary business activities are organized around renal care, medication delivery, acute therapies, pharmacy automation, surgical care and biotechnology. Baxter’s offerings are designed to support patient care in hospitals, dialysis centers, nursing homes and other healthcare facilities worldwide.

In the renal care segment, Baxter provides hemodialysis and peritoneal dialysis systems, water treatment equipment and related disposables, including dialyzers, bloodlines and catheters.