Baxter International Inc. (NYSE:BAX) Given Consensus Rating of “Hold” by Brokerages

Shares of Baxter International Inc. (NYSE:BAX) have received an average recommendation of “Hold” from the ten analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $38.56.

A number of brokerages have recently weighed in on BAX. Citigroup lowered their target price on Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. The Goldman Sachs Group started coverage on Baxter International in a report on Wednesday, February 26th. They set a “buy” rating and a $42.00 target price for the company. Barclays boosted their target price on shares of Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. Argus raised shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, February 21st.

Baxter International Trading Down 8.2 %

Shares of Baxter International stock opened at $28.77 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. The business has a fifty day simple moving average of $33.25 and a two-hundred day simple moving average of $33.45. Baxter International has a 1 year low of $28.34 and a 1 year high of $42.86. The company has a market capitalization of $14.76 billion, a price-to-earnings ratio of -22.48, a P/E/G ratio of 0.93 and a beta of 0.60.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.06. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Research analysts forecast that Baxter International will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, February 28th were given a dividend of $0.17 per share. The ex-dividend date was Friday, February 28th. This represents a $0.68 annualized dividend and a yield of 2.36%. Baxter International’s dividend payout ratio is currently -53.13%.

Hedge Funds Weigh In On Baxter International

Several hedge funds and other institutional investors have recently modified their holdings of the business. Dodge & Cox boosted its stake in Baxter International by 13.0% in the fourth quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier’s stock valued at $1,469,002,000 after buying an additional 5,779,100 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Baxter International by 22.3% in the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock valued at $447,870,000 after purchasing an additional 2,803,920 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Baxter International by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 12,446,939 shares of the medical instruments supplier’s stock valued at $362,006,000 after purchasing an additional 290,279 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in Baxter International by 35.1% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,548,215 shares of the medical instruments supplier’s stock worth $74,306,000 after purchasing an additional 662,042 shares in the last quarter. Finally, Sound Shore Management Inc. CT bought a new position in Baxter International in the 4th quarter valued at approximately $72,450,000. Institutional investors own 90.19% of the company’s stock.

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.