Citigroup Boosts Baxter International (NYSE:BAX) Price Target to $40.00

Baxter International (NYSE:BAX) had its price target increased by Citigroup from $38.00 to $40.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the medical instruments supplier’s stock.

BAX has been the subject of several other reports. Wells Fargo & Company reduced their price target on Baxter International from $44.00 to $40.00 and set an equal weight rating for the company in a research note on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on Baxter International from $36.00 to $40.00 and gave the company a neutral rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. reduced their price target 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. StockNews.com upgraded Baxter International from a hold rating to a buy rating in a research note on Tuesday, September 17th. Finally, Morgan Stanley downgraded Baxter International from an equal weight rating to an underweight rating and cut their target price for the company from $39.00 to $30.00 in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $42.00.

Baxter International Stock Performance

Shares of NYSE BAX opened at $35.08 on Tuesday. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35. Baxter International has a 12 month low of $31.01 and a 12 month high of $44.01. The stock has a 50 day moving average of $37.46 and a 200-day moving average of $37.09. The company has a market capitalization of $17.88 billion, a P/E ratio of 6.75, a P/E/G ratio of 1.32 and a beta of 0.59.

Baxter International (NYSE:BAX) last issued its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, topping the consensus estimate of $0.66 by $0.02. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. The company had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the company posted $0.55 EPS. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities research analysts predict that Baxter International will post 2.96 EPS for the current year.

Baxter International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.31%. Baxter International’s dividend payout ratio (DPR) is currently 22.31%.

Hedge Funds Weigh In On Baxter International

A number of institutional investors have recently modified their holdings of BAX. Bank of New York Mellon Corp increased its holdings in Baxter International by 73.2% in the 2nd 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 in the last quarter. LSV Asset Management acquired a new stake in shares of Baxter International in the second quarter valued at about $140,296,000. Shapiro Capital Management LLC increased its stake in shares of 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. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Baxter International in the second quarter valued at about $67,263,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Baxter International by 7.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,206,242 shares of the medical instruments supplier’s stock valued at $51,553,000 after purchasing an additional 84,808 shares in 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.