Baxter International (NYSE:BAX) Hits New 52-Week Low – What’s Next?

Baxter International Inc. (NYSE:BAX)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $29.86 and last traded at $29.95, with a volume of 361343 shares trading hands. The stock had previously closed at $30.32.

Analyst Ratings Changes

BAX has been the topic of a number of research analyst reports. Citigroup cut their price objective on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Stifel Nicolaus reduced their price target on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, StockNews.com downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Baxter International presently has an average rating of “Hold” and an average price target of $40.45.

Baxter International Stock Down 1.6 %

The business has a 50-day simple moving average of $34.46 and a two-hundred day simple moving average of $35.42. The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 151.60, a PEG ratio of 12.74 and a beta of 0.57. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.85 billion. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company earned $0.68 earnings per share. As a group, equities analysts predict that Baxter International Inc. will post 1.92 EPS for the current year.

Baxter International Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.28%. The ex-dividend date is Friday, November 29th. Baxter International’s payout ratio is 340.00%.

Institutional Investors Weigh In On Baxter International

A number of hedge funds and other institutional investors have recently bought and sold shares of BAX. First PREMIER Bank acquired a new stake in shares of Baxter International in the third quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in Baxter International during the second quarter worth about $27,000. Fortitude Family Office LLC acquired a new stake in Baxter International in the 3rd quarter worth about $38,000. LRI Investments LLC grew its holdings in Baxter International by 60.8% in the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after buying an additional 590 shares during the period. Finally, Cromwell Holdings LLC acquired a new position in shares of Baxter International during the 3rd quarter valued at about $62,000. Institutional investors and hedge funds 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.