Brokerages Set Baxter International Inc. (NYSE:BAX) Target Price at $40.45

Baxter International Inc. (NYSE:BAX) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $40.45.

BAX has been the subject of several recent analyst reports. Citigroup cut their price objective on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. StockNews.com cut shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Stifel Nicolaus lowered their price objective on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, November 11th.

Baxter International Price Performance

Shares of NYSE:BAX opened at $29.50 on Thursday. Baxter International has a 12 month low of $28.62 and a 12 month high of $44.01. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The stock has a market cap of $15.06 billion, a P/E ratio of 147.51, a P/E/G ratio of 12.74 and a beta of 0.57. The company has a 50 day moving average of $33.70 and a 200 day moving average of $35.25.

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

Baxter International Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.68 annualized dividend and a dividend yield of 2.31%. Baxter International’s dividend payout ratio is currently 340.00%.

Institutional Investors Weigh In On Baxter International

Several institutional investors have recently bought and sold shares of the stock. LSV Asset Management bought a new stake in Baxter International in the second quarter valued at approximately $140,296,000. Bank of New York Mellon Corp increased its position in shares of Baxter International by 73.2% in the second quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock valued at $226,541,000 after acquiring an additional 2,862,626 shares during the period. Thompson Siegel & Walmsley LLC bought a new position in shares of Baxter International during the second quarter valued at about $67,263,000. Coho Partners Ltd. purchased a new position in Baxter International during the 3rd quarter valued at about $57,229,000. Finally, Shapiro Capital Management LLC boosted its holdings in Baxter International by 19.7% in the second quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock valued at $109,885,000 after acquiring an additional 541,575 shares in the last quarter. 90.19% of the stock is currently owned by hedge funds and other 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.