Baxter International (NYSE:BAX) Downgraded to Hold at StockNews.com

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

BAX has been the subject of several other research reports. Citigroup reduced their price objective on shares of Baxter International from $38.00 to $37.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. The Goldman Sachs Group upped their price target on shares of Baxter International from $36.00 to $40.00 and gave the company a neutral rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price target on shares of Baxter International from $44.00 to $42.00 and set a neutral rating for the company in a research report on Wednesday, August 7th. Morgan Stanley cut shares of Baxter International from an equal weight rating to an underweight rating and dropped their price objective for the company from $39.00 to $30.00 in a research note on Monday, July 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Baxter International from $44.00 to $40.00 and set an equal weight rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $41.73.

Baxter International Stock Up 0.7 %

Shares of NYSE:BAX opened at $39.22 on Monday. The company has a market capitalization of $20.01 billion, a PE ratio of 7.54, a P/E/G ratio of 1.32 and a beta of 0.59. 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 twelve month low of $31.01 and a twelve month high of $44.01. The firm has a 50 day simple moving average of $36.06 and a 200-day simple moving average of $37.49.

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

Baxter International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.16 annualized dividend and a dividend yield of 2.96%. Baxter International’s dividend payout ratio is presently 22.31%.

Institutional Investors Weigh In On Baxter International

Institutional investors and hedge funds have recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in shares of Baxter International in the 2nd quarter worth about $27,000. LRI Investments LLC purchased a new position in Baxter International in the 1st quarter valued at about $39,000. United Community Bank purchased a new position in Baxter International in the 4th quarter valued at about $43,000. Versant Capital Management Inc lifted its holdings in Baxter International by 974.2% in the 2nd quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock valued at $45,000 after purchasing an additional 1,208 shares in the last quarter. Finally, Trust Co. of Vermont lifted its holdings in Baxter International by 31.0% in the 4th quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock valued at $72,000 after purchasing an additional 443 shares in the last quarter. 90.19% of the stock is currently 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.