Baxter International Inc. (NYSE:BAX) Receives $40.91 Consensus Price Target from Brokerages

Baxter International Inc. (NYSE:BAX) has been given an average recommendation of “Hold” by the eleven ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $40.91.

A number of research analysts recently issued reports on the company. StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Citigroup raised their price target on Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. dropped their price target on Baxter International from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus dropped their price target on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Finally, The Goldman Sachs Group raised their price target on Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th.

Baxter International Price Performance

Shares of NYSE BAX opened at $33.31 on Friday. 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 has a fifty-two week low of $31.60 and a fifty-two week high of $44.01. The firm has a market capitalization of $17.01 billion, a PE ratio of 166.56, a price-to-earnings-growth ratio of 13.27 and a beta of 0.60. The stock’s 50-day simple moving average is $35.70 and its 200-day simple moving average is $35.60.

Baxter International (NYSE:BAX) last issued its 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. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the company earned $0.68 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Baxter International will post 1.98 EPS for the current fiscal year.

Baxter International Cuts Dividend

The firm also recently declared 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 is Friday, November 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.04%. Baxter International’s dividend payout ratio (DPR) is presently 580.03%.

Institutional Trading of Baxter International

Institutional investors have recently modified their holdings of the business. Entropy Technologies LP boosted its stake in shares of Baxter International by 213.5% in the third quarter. Entropy Technologies LP now owns 23,192 shares of the medical instruments supplier’s stock valued at $881,000 after buying an additional 15,794 shares in the last quarter. Sivik Global Healthcare LLC boosted its stake in shares of Baxter International by 50.0% in the third quarter. Sivik Global Healthcare LLC now owns 150,000 shares of the medical instruments supplier’s stock valued at $5,696,000 after buying an additional 50,000 shares in the last quarter. Coho Partners Ltd. purchased a new stake in shares of Baxter International in the third quarter valued at approximately $57,229,000. Handelsbanken Fonder AB boosted its stake in shares of Baxter International by 8.7% in the third quarter. Handelsbanken Fonder AB now owns 217,629 shares of the medical instruments supplier’s stock valued at $8,263,000 after buying an additional 17,450 shares in the last quarter. Finally, Swedbank AB acquired a new position in Baxter International during the first quarter worth $6,083,000. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

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.