Stifel Nicolaus Lowers Baxter International (NYSE:BAX) Price Target to $38.00

Baxter International (NYSE:BAX) had its price target reduced by Stifel Nicolaus from $46.00 to $38.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a buy rating on the medical instruments supplier’s stock.

BAX has been the subject of a number of other research reports. The Goldman Sachs Group lifted their price objective on shares of Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Morgan Stanley cut shares of Baxter International from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $39.00 to $30.00 in a report on Monday, July 15th. StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Citigroup upped their target price on shares of Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Finally, Wells Fargo & Company lowered their target price on shares of Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.91.

Baxter International Price Performance

Shares of BAX stock opened at $32.64 on Monday. The firm’s 50-day moving average is $37.23 and its two-hundred day moving average is $35.97. The company has a market capitalization of $16.65 billion, a PE ratio of 165.81, a price-to-earnings-growth ratio of 11.44 and a beta of 0.60. Baxter International has a 12 month low of $32.48 and a 12 month high of $44.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91.

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

Baxter International Cuts Dividend

The business 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. The ex-dividend date is Friday, November 29th. This represents a $0.68 dividend on an annualized basis and a yield of 2.08%. Baxter International’s payout ratio is currently 580.03%.

Institutional Trading of Baxter International

A number of hedge funds and other institutional investors have recently made changes to their positions in BAX. Gabelli Funds LLC lifted its holdings in shares of Baxter International by 9.6% during the 1st quarter. Gabelli Funds LLC now owns 286,200 shares of the medical instruments supplier’s stock valued at $12,232,000 after purchasing an additional 25,000 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Baxter International by 7.6% in the 1st quarter. Russell Investments Group Ltd. now owns 1,206,242 shares of the medical instruments supplier’s stock valued at $51,553,000 after purchasing an additional 84,808 shares during the period. Coho Partners Ltd. bought a new stake in shares of Baxter International during the 3rd quarter valued at $57,229,000. Wintrust Investments LLC lifted its position in shares of Baxter International by 76.8% during the 1st quarter. Wintrust Investments LLC now owns 41,708 shares of the medical instruments supplier’s stock worth $1,783,000 after buying an additional 18,114 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Baxter International by 8.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 217,629 shares of the medical instruments supplier’s stock worth $8,263,000 after purchasing an additional 17,450 shares in the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

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.