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

Baxter International Inc. (NYSE:BAX) has received an average recommendation of “Hold” from the ten research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $38.56.

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

Baxter International Trading Down 1.0 %

Shares of BAX stock opened at $33.69 on Friday. The firm’s 50-day simple moving average is $33.34 and its 200-day simple moving average is $33.54. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. Baxter International has a 1-year low of $28.34 and a 1-year high of $43.72. The firm has a market cap of $17.28 billion, a P/E ratio of -26.32, a PEG ratio of 0.93 and a beta of 0.60.

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

Baxter International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, February 28th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Friday, February 28th. Baxter International’s dividend payout ratio (DPR) is -53.13%.

Hedge Funds Weigh In On Baxter International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Baxter International by 1.9% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier’s stock worth $33,845,000 after acquiring an additional 21,592 shares in the last quarter. Nicholas Hoffman & Company LLC. acquired a new position in shares of Baxter International in the 4th quarter valued at approximately $907,000. Geode Capital Management LLC boosted its stake in shares of Baxter International by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 12,156,660 shares of the medical instruments supplier’s stock valued at $460,022,000 after buying an additional 170,776 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Baxter International by 22.3% during the fourth quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock worth $447,870,000 after buying an additional 2,803,920 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Baxter International by 15.4% in the third quarter. Toronto Dominion Bank now owns 170,855 shares of the medical instruments supplier’s stock worth $6,487,000 after buying an additional 22,787 shares during the last quarter. 90.19% of the stock is owned by hedge funds and other institutional investors.

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.