Baxter International (NYSE:BAX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Baxter International (NYSE:BAX) from a hold rating to a buy rating in a report issued on Tuesday morning.

Several other analysts have also recently issued reports on BAX. The Goldman Sachs Group increased their price objective on Baxter International from $36.00 to $40.00 and gave the company a neutral rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their target price on shares of Baxter International from $44.00 to $42.00 and set a neutral rating on the stock in a report on Wednesday, August 7th. Evercore ISI decreased their price target on Baxter International from $46.00 to $45.00 and set an outperform rating for the company in a report on Tuesday, July 2nd. Morgan Stanley downgraded shares of Baxter International from an equal weight rating to an underweight rating and lowered their target price for the company from $39.00 to $30.00 in a report on Monday, July 15th. Finally, Citigroup decreased their target price on shares of Baxter International from $38.00 to $37.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $41.73.

Baxter International Stock Performance

Shares of BAX stock opened at $39.81 on Tuesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40. The firm has a market cap of $20.29 billion, a P/E ratio of 7.66, a P/E/G ratio of 1.33 and a beta of 0.59. The firm’s 50 day moving average price is $36.78 and its 200-day moving average price is $37.41. Baxter International has a one year low of $31.01 and a one year high of $44.01.

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

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, August 30th. This represents a $1.16 annualized dividend and a yield of 2.91%. Baxter International’s dividend payout ratio is currently 22.31%.

Institutional Investors Weigh In On Baxter International

Several hedge funds have recently modified their holdings of BAX. Innealta Capital LLC acquired a new position in shares of Baxter International in the second quarter worth about $27,000. LRI Investments LLC acquired a new position in shares of Baxter International in the 1st quarter valued at about $39,000. United Community Bank bought a new stake in shares of Baxter International during the 4th quarter valued at about $43,000. 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 during the period. Finally, Trust Co. of Vermont raised its position in shares of Baxter International by 31.0% during the 4th 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 period. 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.