Brokerages Set Baxter International Inc. (NYSE:BAX) PT at $21.40

Shares of Baxter International Inc. (NYSE:BAX) have been assigned a consensus recommendation of “Reduce” from the fourteen analysts that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $21.40.

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Baxter International from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Citigroup decreased their price target on shares of Baxter International from $26.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Jefferies Financial Group cut their price objective on Baxter International from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. Argus lowered Baxter International from a “buy” rating to a “hold” rating in a report on Friday, October 31st. Finally, Morgan Stanley cut their target price on shares of Baxter International from $19.00 to $15.00 and set an “underweight” rating on the stock in a research note on Tuesday, December 2nd.

Baxter International Trading Up 0.6%

BAX opened at $19.74 on Friday. Baxter International has a 52 week low of $17.40 and a 52 week high of $37.74. The company has a quick ratio of 1.18, a current ratio of 1.84 and a debt-to-equity ratio of 1.21. The business has a fifty day simple moving average of $19.33 and a 200-day simple moving average of $21.83. The firm has a market cap of $10.14 billion, a P/E ratio of -29.90, a P/E/G ratio of 1.15 and a beta of 0.59.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, October 30th. The medical instruments supplier reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.09. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.88 billion. Baxter International had a positive return on equity of 17.38% and a negative net margin of 3.09%.Baxter International’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. On average, equities analysts expect that Baxter International will post 2.48 earnings per share for the current year.

Baxter International Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Friday, November 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, November 28th. Baxter International’s payout ratio is -6.06%.

Institutional Investors Weigh In On Baxter International

Several institutional investors have recently added to or reduced their stakes in BAX. CoreFirst Bank & Trust purchased a new position in shares of Baxter International in the 2nd quarter valued at approximately $27,000. Imprint Wealth LLC purchased a new position in Baxter International in the 3rd quarter valued at $27,000. Creative Financial Designs Inc. ADV increased its stake in Baxter International by 169.6% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 984 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 619 shares during the period. MTM Investment Management LLC acquired a new stake in shares of Baxter International in the 2nd quarter worth $30,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Baxter International in the 2nd quarter worth $40,000. 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.