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

StockNews.com cut shares of Baxter International (NYSE:BAX) from a buy rating to a hold rating in a research report released on Tuesday.

BAX has been the topic of a number of other research reports. Evercore ISI reduced their target price on Baxter International from $46.00 to $45.00 and set an outperform rating on the stock in a research note on Tuesday, July 2nd. Citigroup lifted their price objective on shares of Baxter International from $38.00 to $40.00 and gave the company a neutral rating in a report on Tuesday. The Goldman Sachs Group upped their target price on shares of Baxter International from $36.00 to $40.00 and gave the stock a neutral rating in a research note on Thursday, August 8th. Wells Fargo & Company decreased their price target on shares of 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. Finally, Morgan Stanley cut Baxter International from an equal weight rating to an underweight rating and dropped their price objective for the stock from $39.00 to $30.00 in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $42.00.

Baxter International Trading Down 2.5 %

Shares of BAX opened at $35.08 on Tuesday. Baxter International has a twelve month low of $31.01 and a twelve month high of $44.01. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35. The company’s fifty day simple moving average is $37.46 and its 200-day simple moving average is $37.09. The company has a market cap 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 announced its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.81 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the firm earned $0.55 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, analysts expect that Baxter International will post 2.96 EPS for the current year.

Baxter International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Friday, August 30th. Baxter International’s payout ratio is 22.31%.

Institutional Investors Weigh In On Baxter International

A number of institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in shares of Baxter International during the second quarter valued at about $27,000. LRI Investments LLC acquired a new stake in Baxter International in the first quarter valued at approximately $39,000. Versant Capital Management Inc boosted its stake in Baxter International by 974.2% in the second quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock valued at $45,000 after acquiring an additional 1,208 shares in the last quarter. Trust Co. of Vermont grew its holdings in Baxter International by 31.0% in the fourth quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock worth $72,000 after purchasing an additional 443 shares during the last quarter. Finally, Archer Investment Corp increased its position in shares of Baxter International by 20.8% during the second quarter. Archer Investment Corp now owns 2,235 shares of the medical instruments supplier’s stock worth $75,000 after purchasing an additional 385 shares in the last quarter. 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.