Citigroup Cuts Baxter International (NYSE:BAX) Price Target to $35.00

Baxter International (NYSE:BAX) had its price objective cut by Citigroup from $37.00 to $35.00 in a report issued on Wednesday,Benzinga reports. They currently have a neutral rating on the medical instruments supplier’s stock.

A number of other research analysts also recently weighed in on BAX. Stifel Nicolaus cut their price objective on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Baxter International has a consensus rating of “Hold” and an average target price of $40.45.

Baxter International Price Performance

NYSE BAX opened at $30.32 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $15.48 billion, a PE ratio of 154.21, a price-to-earnings-growth ratio of 12.74 and a beta of 0.57. Baxter International has a 12-month low of $30.06 and a 12-month high of $44.01. The company has a 50 day moving average price of $34.58 and a two-hundred day moving average price of $35.42.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. Baxter International’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 EPS. As a group, equities analysts predict that Baxter International will post 1.92 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Friday, November 29th. Baxter International’s payout ratio is currently 340.02%.

Institutional Trading of Baxter International

Several hedge funds and other institutional investors have recently bought and sold shares of BAX. First PREMIER Bank bought a new stake in shares of Baxter International in the third quarter valued at about $25,000. Innealta Capital LLC acquired a new position in Baxter International in the 2nd quarter valued at approximately $27,000. Fortitude Family Office LLC bought a new stake in shares of Baxter International in the 3rd quarter worth approximately $38,000. LRI Investments LLC grew its holdings in shares of Baxter International by 60.8% during the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 590 shares in the last quarter. Finally, Cromwell Holdings LLC bought a new stake in shares of Baxter International during the third quarter valued at approximately $62,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

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.