Brokerages Set Baxter International Inc. (NYSE:BAX) PT at $44.42

Baxter International Inc. (NYSE:BAX) has earned a consensus rating of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $44.42.

A number of brokerages recently commented on BAX. Citigroup decreased their price target on Baxter International from $44.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. TD Cowen downgraded Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research report on Friday, May 10th. Bank of America raised their target price on shares of Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Finally, The Goldman Sachs Group started coverage on Baxter International in a research report on Thursday, May 30th. They issued a “neutral” rating and a $36.00 target price for the company.

Baxter International Stock Performance

NYSE:BAX opened at $33.45 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.48 and a debt-to-equity ratio of 1.35. Baxter International has a twelve month low of $31.01 and a twelve month high of $50.21. The company has a fifty day moving average of $35.34 and a 200-day moving average of $38.70. The firm has a market capitalization of $17.05 billion, a P/E ratio of 6.43, a P/E/G ratio of 1.75 and a beta of 0.61.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. The firm had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. As a group, sell-side analysts anticipate that Baxter International will post 2.91 EPS for the current year.

Baxter International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.16 annualized dividend and a dividend yield of 3.47%. Baxter International’s dividend payout ratio (DPR) is presently 22.31%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BAX. Cary Street Partners Investment Advisory LLC increased its stake in shares of Baxter International by 450.6% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 2,230 shares of the medical instruments supplier’s stock worth $84,000 after acquiring an additional 1,825 shares in the last quarter. United Services Automobile Association raised its holdings in Baxter International by 31.0% during the third quarter. United Services Automobile Association now owns 14,983 shares of the medical instruments supplier’s stock valued at $565,000 after acquiring an additional 3,543 shares during the period. Shapiro Capital Management LLC purchased a new position in Baxter International in the 3rd quarter worth approximately $114,307,000. Ameriprise Financial Inc. grew its position in shares of Baxter International by 11.3% during the third quarter. Ameriprise Financial Inc. now owns 10,836,563 shares of the medical instruments supplier’s stock valued at $408,992,000 after purchasing an additional 1,098,787 shares in the last quarter. Finally, Adalta Capital Management LLC raised its stake in Baxter International by 52.0% during the third quarter. Adalta Capital Management LLC now owns 24,460 shares of the medical instruments supplier’s stock valued at $928,000 after purchasing an additional 8,370 shares in the last quarter. 90.19% of the stock is currently owned by institutional investors.

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.