Barclays Initiates Coverage on Baxter International (NYSE:BAX)

Barclays began coverage on shares of Baxter International (NYSE:BAX) in a report released on Thursday, Marketbeat reports. The brokerage issued an overweight rating and a $39.00 price target on the medical instruments supplier’s stock.

BAX has been the topic of a number of other research reports. Stifel Nicolaus lowered their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Citigroup decreased their price objective on Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Finally, StockNews.com downgraded Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.80.

Baxter International Trading Up 1.3 %

Baxter International stock opened at $33.87 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. Baxter International has a one year low of $28.33 and a one year high of $44.01. The stock has a market capitalization of $17.29 billion, a PE ratio of -26.46, a price-to-earnings-growth ratio of 10.62 and a beta of 0.61. The business’s fifty day moving average is $30.65 and its 200 day moving average is $34.12.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.67 billion. On average, sell-side analysts predict that Baxter International will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, February 28th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, February 28th. Baxter International’s dividend payout ratio (DPR) is presently -53.13%.

Institutional Trading of Baxter International

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAX. Greenleaf Trust raised its stake in Baxter International by 10.0% during the 3rd quarter. Greenleaf Trust now owns 9,491 shares of the medical instruments supplier’s stock valued at $360,000 after purchasing an additional 859 shares during the period. Coho Partners Ltd. purchased a new position in Baxter International during the 3rd quarter valued at approximately $57,229,000. Cromwell Holdings LLC purchased a new position in Baxter International during the 3rd quarter valued at approximately $62,000. Forsta AP Fonden grew its holdings in Baxter International by 6.9% during the 3rd quarter. Forsta AP Fonden now owns 113,900 shares of the medical instruments supplier’s stock valued at $4,325,000 after buying an additional 7,400 shares in the last quarter. Finally, Fortitude Family Office LLC purchased a new position in Baxter International during the 3rd quarter valued at approximately $38,000. Institutional investors own 90.19% of the company’s stock.

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.