Baxter International (NYSE:BAX) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Baxter International (NYSE:BAX) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

BAX has been the subject of several other research reports. Morgan Stanley lowered shares of Baxter International from an equal weight rating to an underweight rating and reduced their price target for the company from $39.00 to $30.00 in a research report on Monday, July 15th. Evercore ISI decreased their price target on shares of Baxter International from $46.00 to $45.00 and set an outperform rating on the stock in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. dropped their price target on shares of Baxter International from $44.00 to $42.00 and set a neutral rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company reduced their price objective on Baxter International from $44.00 to $40.00 and set an equal weight rating for the company in a research note on Wednesday, August 7th. Finally, Citigroup decreased their target price on Baxter International from $38.00 to $37.00 and set a neutral rating on the stock in a report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $41.73.

Baxter International Stock Down 0.7 %

BAX opened at $38.49 on Tuesday. Baxter International has a twelve month low of $31.01 and a twelve month high of $44.01. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 1.35. The firm has a 50 day moving average price of $37.02 and a 200-day moving average price of $37.40. The stock has a market capitalization of $19.61 billion, a price-to-earnings ratio of 7.40, a PEG ratio of 1.33 and a beta of 0.59.

Baxter International (NYSE:BAX) last released 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. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.75 billion. During the same period in the prior year, the firm earned $0.55 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Baxter International will post 2.96 earnings per share for the current year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.01%. The ex-dividend date is Friday, August 30th. Baxter International’s dividend payout ratio is presently 22.31%.

Hedge Funds Weigh In On Baxter International

Several institutional investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV raised its position in shares of Baxter International by 15.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 2,069 shares of the medical instruments supplier’s stock valued at $88,000 after buying an additional 272 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in Baxter International by 0.7% during the second 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 period. Kingswood Wealth Advisors LLC raised its position in Baxter International by 4.6% during the second quarter. Kingswood Wealth Advisors LLC now owns 7,759 shares of the medical instruments supplier’s stock valued at $260,000 after purchasing an additional 343 shares during the period. Archer Investment Corp lifted its stake in shares of Baxter International by 20.8% in 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. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Baxter International by 20.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,400 shares of the medical instruments supplier’s stock worth $93,000 after purchasing an additional 406 shares during the period. Institutional investors own 90.19% of the company’s stock.

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.