Baxter International (NYSE:BAX) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Baxter International (NYSE:BAX) in a research note issued to investors on Wednesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $42.00 price target on the medical instruments supplier’s stock.

Several other research firms have also issued reports on BAX. Citigroup reduced their price target on Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Barclays started coverage on Baxter International in a research report on Thursday, February 20th. They issued an “overweight” rating and a $39.00 price target on the stock. Stifel Nicolaus reduced their price target on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. StockNews.com lowered Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their target price on Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Baxter International has a consensus rating of “Hold” and a consensus target price of $39.00.

Baxter International Stock Down 2.0 %

NYSE BAX opened at $35.22 on Wednesday. The stock has a fifty day moving average of $31.01 and a 200-day moving average of $34.08. The stock has a market capitalization of $18.02 billion, a P/E ratio of -27.52, a price-to-earnings-growth ratio of 0.93 and a beta of 0.61. Baxter International has a 52 week low of $28.33 and a 52 week high of $44.01. 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 posted its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.06. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.67 billion. On average, equities research analysts forecast that Baxter International will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, February 28th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, February 28th. Baxter International’s dividend payout ratio is currently -53.13%.

Hedge Funds Weigh In On Baxter International

Institutional investors have recently bought and sold shares of the business. CoreFirst Bank & Trust acquired a new position in Baxter International during the fourth quarter worth approximately $26,000. Riverview Trust Co increased its position in Baxter International by 5,488.2% during the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 933 shares during the last quarter. Fortitude Family Office LLC acquired a new position in Baxter International during the third quarter worth approximately $38,000. LRI Investments LLC increased its position in Baxter International by 60.8% during the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after buying an additional 590 shares during the last quarter. Finally, Bruce G. Allen Investments LLC increased its position in Baxter International by 247.3% during the fourth quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock worth $76,000 after buying an additional 1,867 shares during the last quarter. Institutional investors and hedge funds 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.