Baxter International (NYSE:BAX) 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 released on Tuesday.

A number of other research analysts also recently commented on BAX. Citigroup raised their target price on shares of Baxter International from $38.00 to $40.00 and gave the company a neutral rating in a research report on Tuesday. Evercore ISI cut their price objective on shares of Baxter International from $46.00 to $45.00 and set an outperform rating on the stock in a report on Tuesday, July 2nd. JPMorgan Chase & Co. lowered their target price on Baxter International from $44.00 to $42.00 and set a neutral rating for the company in a report on Wednesday, August 7th. The Goldman Sachs Group increased their target price on Baxter International from $36.00 to $40.00 and gave the company a neutral rating in a research report on Thursday, August 8th. Finally, Morgan Stanley lowered Baxter International from an equal weight rating to an underweight rating and reduced their price target for the stock from $39.00 to $30.00 in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $42.00.

Baxter International Stock Performance

Shares of NYSE:BAX opened at $36.33 on Tuesday. The firm’s 50 day simple moving average is $37.48 and its 200-day simple moving average is $37.05. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40. Baxter International has a one year low of $31.01 and a one year high of $44.01. The firm has a market cap of $18.51 billion, a PE ratio of 6.99, a price-to-earnings-growth ratio of 1.32 and a beta of 0.59.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, topping 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 company had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same period last year, the business posted $0.55 EPS. Baxter International’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts predict that Baxter International will post 2.96 EPS for the current year.

Baxter International Announces Dividend

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

Institutional Investors Weigh In On Baxter International

Institutional investors have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new position in shares of Baxter International in the 2nd quarter valued at approximately $27,000. LRI Investments LLC acquired a new position in Baxter International during the 1st quarter valued at approximately $39,000. Versant Capital Management Inc increased its stake in Baxter International by 974.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock valued at $45,000 after purchasing an additional 1,208 shares in the last quarter. Trust Co. of Vermont raised its holdings in shares of Baxter International by 31.0% in the fourth quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock worth $72,000 after buying an additional 443 shares during the last quarter. Finally, Archer Investment Corp lifted its stake in shares of Baxter International by 20.8% during the second 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 period. Institutional investors and hedge funds own 90.19% of the company’s stock.

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.