Baxter International (NYSE:BAX) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Baxter International (NYSE:BAX) from a buy rating to a hold rating in a report published on Tuesday.

Other analysts have also recently issued research reports about the company. Morgan Stanley cut Baxter International from an equal weight rating to an underweight rating and cut their target price for the stock from $39.00 to $30.00 in a research report on Monday, July 15th. JPMorgan Chase & Co. reduced their price objective on shares of Baxter International from $44.00 to $42.00 and set a neutral rating on the stock in a research report on Wednesday, August 7th. Wells Fargo & Company dropped their target price on shares of Baxter International from $44.00 to $40.00 and set an equal weight rating for the company in a research report on Wednesday, August 7th. Citigroup lifted their price target on shares of Baxter International from $38.00 to $40.00 and gave the company a neutral rating in a report on Tuesday. Finally, The Goldman Sachs Group increased their price objective 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $42.00.

Baxter International Stock Up 3.5 %

BAX stock opened at $36.33 on Tuesday. The business’s 50-day moving average price is $37.48 and its 200-day moving average price is $37.05. The stock has a market cap of $18.51 billion, a P/E ratio of 6.99, a PEG ratio of 1.32 and a beta of 0.59. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 1.35. Baxter International has a twelve month low of $31.01 and a twelve month high of $44.01.

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. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 earnings per share. On average, equities research analysts forecast that Baxter International will post 2.96 EPS for the current year.

Baxter International Announces Dividend

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

Institutional Investors Weigh In On Baxter International

Several institutional investors have recently modified their holdings of BAX. Innealta Capital LLC purchased a new stake in Baxter International during the 2nd quarter valued at $27,000. LRI Investments LLC purchased a new stake in shares of Baxter International in the first quarter valued at $39,000. Versant Capital Management Inc lifted its holdings in shares of Baxter International by 974.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock worth $45,000 after acquiring an additional 1,208 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of Baxter International by 31.0% during the 4th quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock worth $72,000 after purchasing an additional 443 shares during the period. Finally, Archer Investment Corp grew its holdings in Baxter International by 20.8% during the 2nd quarter. Archer Investment Corp now owns 2,235 shares of the medical instruments supplier’s stock valued at $75,000 after purchasing an additional 385 shares during the last quarter. 90.19% of the stock is owned by institutional investors.

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.