Baxter International (NYSE:BAX) Stock Rating Upgraded by Argus

Argus upgraded shares of Baxter International (NYSE:BAX) from a hold rating to a buy rating in a report issued on Monday, Marketbeat.com reports.

BAX has been the subject of a number of other reports. Barclays initiated coverage on Baxter International in a research note on Thursday, February 20th. They set an “overweight” rating and a $39.00 price target for the company. Citigroup lowered their target price on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. JPMorgan Chase & Co. reduced their price target on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday. Stifel Nicolaus lowered their price objective on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, StockNews.com downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Baxter International has a consensus rating of “Hold” and an average target price of $38.80.

Baxter International Stock Performance

NYSE BAX opened at $35.05 on Monday. The company has a market cap of $17.89 billion, a P/E ratio of -27.38, a P/E/G ratio of 10.62 and a beta of 0.61. The business’s 50 day moving average price is $30.76 and its 200-day moving average price is $34.08. Baxter International has a fifty-two week low of $28.33 and a fifty-two week high of $44.01. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43.

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

Baxter International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, February 28th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.68 annualized dividend and a yield of 1.94%. Baxter International’s dividend payout ratio (DPR) is presently -53.13%.

Institutional Investors Weigh In On Baxter International

A number of hedge funds have recently made changes to their positions in BAX. GF Fund Management CO. LTD. bought a new position in Baxter International in the fourth quarter worth about $365,000. Public Employees Retirement System of Ohio purchased a new position in shares of Baxter International in the 4th quarter worth approximately $5,102,000. Raiffeisen Bank International AG bought a new position in shares of Baxter International during the 4th quarter worth approximately $2,193,000. Mufg Securities Americas Inc. purchased a new stake in Baxter International during the fourth quarter valued at approximately $220,000. Finally, Parkwood LLC acquired a new stake in Baxter International in the fourth quarter valued at approximately $10,747,000. 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.