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

Baxter International Inc. (NYSE:BAX) has been assigned a consensus recommendation of “Hold” from the ten research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $38.56.

Several brokerages recently issued reports on BAX. Citigroup lowered their target price on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Barclays lifted their price objective on Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. decreased their target price on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, February 21st. Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, The Goldman Sachs Group initiated coverage on shares of Baxter International in a research report on Wednesday, February 26th. They set a “buy” rating and a $42.00 price objective for the company.

Baxter International Stock Performance

Shares of BAX stock opened at $28.77 on Friday. The business’s 50-day moving average price is $33.25 and its 200-day moving average price is $33.45. Baxter International has a 12 month low of $28.34 and a 12 month high of $42.86. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $14.76 billion, a price-to-earnings ratio of -22.48, a PEG ratio of 0.93 and a beta of 0.60.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 EPS for the quarter, topping the consensus estimate of $0.52 by $0.06. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. The business had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.67 billion. Equities research analysts forecast that Baxter International will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.36%. Baxter International’s dividend payout ratio (DPR) is presently -53.13%.

Institutional Trading of Baxter International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BAX. LRI Investments LLC increased its holdings in shares of Baxter International by 60.8% during the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after acquiring an additional 590 shares in the last quarter. Geode Capital Management LLC grew its position in Baxter International by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock valued at $460,022,000 after purchasing an additional 170,776 shares during the period. Empire Financial Management Company LLC increased its stake in Baxter International by 263.3% during the 3rd quarter. Empire Financial Management Company LLC now owns 26,907 shares of the medical instruments supplier’s stock valued at $1,022,000 after purchasing an additional 19,500 shares in the last quarter. Toronto Dominion Bank raised its holdings in Baxter International by 15.4% during the third quarter. Toronto Dominion Bank now owns 170,855 shares of the medical instruments supplier’s stock worth $6,487,000 after buying an additional 22,787 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in shares of Baxter International by 29.5% in the third quarter. TD Private Client Wealth LLC now owns 41,027 shares of the medical instruments supplier’s stock valued at $1,558,000 after buying an additional 9,357 shares in the last quarter. 90.19% of the stock is owned by institutional investors.

Baxter International Company Profile

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.