Baxter International (NYSE:BAX) Given New $38.00 Price Target at Stifel Nicolaus

Baxter International (NYSE:BAX) had its price target lowered by Stifel Nicolaus from $46.00 to $38.00 in a report issued on Monday,Benzinga reports. The firm currently has a buy rating on the medical instruments supplier’s stock.

A number of other equities analysts have also commented on the stock. StockNews.com raised shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Citigroup lifted their target price on shares of Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price target on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Wells Fargo & Company dropped their price objective on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their price objective on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Baxter International currently has a consensus rating of “Hold” and a consensus price target of $40.91.

Baxter International Stock Down 2.8 %

BAX stock opened at $31.71 on Monday. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35. The firm has a market cap of $16.18 billion, a PE ratio of 158.56, a PEG ratio of 11.44 and a beta of 0.60. Baxter International has a 1 year low of $31.61 and a 1 year high of $44.01. The company has a fifty day simple moving average of $37.13 and a 200 day simple moving average of $35.94.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a return on equity of 18.19% and a net margin of 0.77%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.68 earnings per share. Sell-side analysts anticipate that Baxter International will post 2.33 EPS for the current fiscal year.

Baxter International Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.14%. Baxter International’s payout ratio is 580.03%.

Institutional Investors Weigh In On Baxter International

Institutional investors and hedge funds have recently bought and sold shares of the business. First PREMIER Bank acquired a new stake in Baxter International in the 3rd quarter valued at $25,000. Innealta Capital LLC acquired a new stake in shares of Baxter International in the 2nd quarter valued at $27,000. Fortitude Family Office LLC acquired a new stake in shares of Baxter International during the 3rd quarter worth about $38,000. LRI Investments LLC acquired a new stake in shares of Baxter International during the 1st quarter worth about $39,000. Finally, Versant Capital Management Inc lifted its holdings 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 during the last quarter. 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.