Baxter International (NYSE:BAX) Downgraded by StockNews.com

StockNews.com downgraded shares of Baxter International (NYSE:BAX) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

A number of other research firms have also commented on BAX. Morgan Stanley lowered shares of Baxter International from an equal weight rating to an underweight rating and reduced their price target for the company from $39.00 to $30.00 in a research report on Monday, July 15th. Citigroup reduced their price target on shares of Baxter International from $38.00 to $37.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. TD Cowen lowered shares of Baxter International from a buy rating to a hold rating and set a $40.00 price target on the stock. in a research report on Friday, May 10th. The Goldman Sachs Group initiated coverage on shares of Baxter International in a research report on Thursday, May 30th. They issued a neutral rating and a $36.00 price target on the stock. Finally, Evercore ISI reduced their price target on shares of Baxter International from $46.00 to $45.00 and set an outperform rating on the stock in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $42.67.

Baxter International Price Performance

Shares of Baxter International stock opened at $35.51 on Wednesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48. The firm’s 50-day simple moving average is $34.10 and its 200-day simple moving average is $38.13. Baxter International has a twelve month low of $31.01 and a twelve month high of $47.73. The firm has a market cap of $18.10 billion, a P/E ratio of 6.83, a price-to-earnings-growth ratio of 1.85 and a beta of 0.57.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.55 billion. During the same period in the previous year, the business earned $0.59 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. As a group, research analysts expect that Baxter International will post 2.91 EPS for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.16 annualized dividend and a yield of 3.27%. Baxter International’s dividend payout ratio is currently 22.31%.

Hedge Funds Weigh In On Baxter International

Large investors have recently bought and sold shares of the business. LRI Investments LLC acquired a new position in Baxter International in the first quarter valued at approximately $39,000. Turtle Creek Wealth Advisors LLC acquired a new position in Baxter International in the fourth quarter valued at approximately $37,000. Hexagon Capital Partners LLC lifted its holdings in Baxter International by 205.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier’s stock valued at $37,000 after buying an additional 641 shares during the period. CKW Financial Group acquired a new position in Baxter International in the fourth quarter valued at approximately $43,000. Finally, United Community Bank acquired a new position in Baxter International in the fourth quarter valued at approximately $43,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

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.