Baxter International Inc. (NYSE:BAX) Receives Consensus Recommendation of “Hold” from Analysts

Baxter International Inc. (NYSE:BAX) has earned a consensus rating of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. One research 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 1 year target price among brokers that have issued ratings on the stock in the last year is $41.73.

Several research firms have weighed in on BAX. JPMorgan Chase & Co. cut their target price on Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Evercore ISI dropped their price objective on Baxter International from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. StockNews.com lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. The Goldman Sachs Group upped their price target on shares of Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company cut their price target on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 7th.

Baxter International Stock Up 0.9 %

Shares of NYSE BAX opened at $39.72 on Tuesday. Baxter International has a 52 week low of $31.01 and a 52 week high of $44.01. The stock’s fifty day moving average is $36.53 and its 200 day moving average is $37.45. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40. The stock has a market capitalization of $20.26 billion, a P/E ratio of 7.64, a PEG ratio of 1.33 and a beta of 0.59.

Baxter International (NYSE:BAX) last released its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period last year, the firm earned $0.55 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts forecast that Baxter International will post 2.96 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be given a $0.29 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.92%. Baxter International’s dividend payout ratio (DPR) is currently 22.31%.

Institutional Investors Weigh In On Baxter International

Several large investors have recently modified their holdings of the company. LSV Asset Management bought a new stake in Baxter International during the second quarter valued at $140,296,000. Bank of New York Mellon Corp grew its stake in Baxter International by 73.2% during the second quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock worth $226,541,000 after purchasing an additional 2,862,626 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in Baxter International in the second quarter worth approximately $67,263,000. Shapiro Capital Management LLC lifted its stake in Baxter International by 19.7% in the second quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock valued at $109,885,000 after buying an additional 541,575 shares during the period. Finally, Carmignac Gestion boosted its holdings in shares of Baxter International by 9.5% during the 4th quarter. Carmignac Gestion now owns 5,311,012 shares of the medical instruments supplier’s stock worth $205,324,000 after buying an additional 462,239 shares in the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

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.