Baxter International Inc. (NYSE:BAX) Receives $41.73 Consensus PT from Brokerages

Shares of Baxter International Inc. (NYSE:BAX) have received a consensus recommendation of “Hold” from the eleven research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $41.73.

Several equities research analysts have weighed in on BAX shares. Citigroup dropped their target price on Baxter International from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI cut their price objective 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. JPMorgan Chase & Co. decreased their target price on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley cut Baxter International from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $39.00 to $30.00 in a report on Monday, July 15th. Finally, TD Cowen lowered Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a report on Friday, May 10th.

Baxter International Stock Down 0.6 %

Shares of NYSE:BAX opened at $36.24 on Friday. The company’s fifty day moving average is $34.91 and its two-hundred day moving average is $37.75. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48. Baxter International has a 1-year low of $31.01 and a 1-year high of $44.01. The stock has a market capitalization of $18.47 billion, a price-to-earnings ratio of 6.97, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the business earned $0.55 earnings per share. Baxter International’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts anticipate that Baxter International will post 2.91 EPS for the current year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, August 30th. Baxter International’s dividend payout ratio (DPR) is presently 22.31%.

Hedge Funds Weigh In On Baxter International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC purchased a new stake in Baxter International during the second quarter valued at about $27,000. Hexagon Capital Partners LLC boosted its stake in Baxter International by 205.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier’s stock worth $37,000 after purchasing an additional 641 shares during the period. LRI Investments LLC purchased a new position in Baxter International during the 1st quarter worth approximately $39,000. United Community Bank purchased a new position in Baxter International during the 4th quarter worth approximately $43,000. Finally, Versant Capital Management Inc raised its stake in Baxter International by 974.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock valued at $45,000 after purchasing an additional 1,208 shares during the period. 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.