Baxter International Inc. (NYSE:BAX) Receives Average Rating of “Hold” from Brokerages

Baxter International Inc. (NYSE:BAX) has earned an average rating of “Hold” from the eleven analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $40.91.

Several research analysts recently issued reports on the company. StockNews.com cut Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price objective on Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. 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. Citigroup raised 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, October 1st. Finally, Stifel Nicolaus reduced their price objective 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.

Baxter International Stock Performance

Shares of Baxter International stock opened at $33.71 on Friday. Baxter International has a 52 week low of $31.60 and a 52 week high of $44.01. The company has a market capitalization of $17.21 billion, a PE ratio of 168.55, a price-to-earnings-growth ratio of 13.23 and a beta of 0.60. The stock’s fifty day moving average is $35.61 and its two-hundred day moving average is $35.59. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. As a group, analysts expect that Baxter International will post 1.98 earnings per share for the current 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 issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, November 29th. Baxter International’s dividend payout ratio (DPR) is presently 340.00%.

Hedge Funds Weigh In On Baxter International

Several hedge funds have recently made changes to their positions in BAX. Oregon Public Employees Retirement Fund grew its stake in Baxter International by 0.7% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 43,751 shares of the medical instruments supplier’s stock valued at $1,463,000 after purchasing an additional 310 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Baxter International by 4.6% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 7,759 shares of the medical instruments supplier’s stock worth $260,000 after buying an additional 343 shares during the period. Archer Investment Corp raised its position 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 worth $75,000 after buying an additional 385 shares during the last quarter. M&R Capital Management Inc. lifted its stake in Baxter International by 9.5% during the 3rd quarter. M&R Capital Management Inc. now owns 4,480 shares of the medical instruments supplier’s stock valued at $170,000 after acquiring an additional 390 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Baxter International by 6.5% in the 3rd quarter. GAMMA Investing LLC now owns 7,517 shares of the medical instruments supplier’s stock valued at $285,000 after acquiring an additional 459 shares during the last quarter. 90.19% of the stock is owned by institutional investors and hedge funds.

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.