Baxter International (NYSE:BAX) Price Target Lowered to $36.00 at JPMorgan Chase & Co.

Baxter International (NYSE:BAX) had its price objective trimmed by JPMorgan Chase & Co. from $38.00 to $36.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the medical instruments supplier’s stock.

Several other equities research analysts also recently commented on BAX. Citigroup decreased their price objective on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. StockNews.com cut Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Barclays assumed coverage on shares of Baxter International in a research note on Thursday. They issued an “overweight” rating and a $39.00 target price for the company. Finally, Stifel Nicolaus cut their price target on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $38.80.

Baxter International Stock Up 1.3 %

Shares of Baxter International stock opened at $33.87 on Friday. The stock’s 50-day moving average is $30.65 and its 200 day moving average is $34.14. Baxter International has a one year low of $28.33 and a one year high of $44.01. The firm has a market cap of $17.29 billion, a price-to-earnings ratio of 169.33, a PEG ratio of 9.83 and a beta of 0.61. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09.

Baxter International (NYSE:BAX) last released its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.67 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. Equities research analysts anticipate that Baxter International will post 1.83 EPS for the current year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, February 28th will be paid a $0.17 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.01%. Baxter International’s payout ratio is presently 340.02%.

Hedge Funds Weigh In On Baxter International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BAX. CoreFirst Bank & Trust bought a new stake in shares of Baxter International during the 4th quarter valued at $26,000. Riverview Trust Co increased its position in shares of Baxter International by 5,488.2% during the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 933 shares during the period. Fortitude Family Office LLC purchased a new stake in Baxter International in the 3rd quarter worth approximately $38,000. LRI Investments LLC increased its holdings in shares of Baxter International by 60.8% in the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 590 shares during the period. Finally, Cromwell Holdings LLC purchased a new stake in shares of Baxter International in the third quarter worth $62,000. Institutional investors 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.