Brokerages Set Baxter International Inc. (NYSE:BAX) Target Price at $38.56

Baxter International Inc. (NYSE:BAX) has earned an average rating of “Hold” from the ten research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $38.56.

A number of equities research analysts have recently weighed in on BAX shares. The Goldman Sachs Group initiated coverage on Baxter International in a report on Wednesday, February 26th. They issued a “buy” rating and a $42.00 price target for the company. Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a report on Monday, February 24th. JPMorgan Chase & Co. lowered their price objective 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, February 21st. Citigroup reduced their price objective 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. Finally, Barclays lifted their target price on Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, March 10th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BAX. CoreFirst Bank & Trust acquired a new stake in Baxter International during the fourth quarter worth $26,000. Riverview Trust Co lifted its holdings in Baxter International by 5,488.2% in the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock valued at $28,000 after buying an additional 933 shares during the period. LRI Investments LLC increased its holdings in Baxter International by 60.8% in the third quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 590 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in Baxter International by 247.3% in the fourth quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock valued at $76,000 after purchasing an additional 1,867 shares in the last quarter. Finally, CKW Financial Group increased its holdings in shares of Baxter International by 19.3% in the fourth quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock worth $77,000 after acquiring an additional 425 shares in the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Baxter International Trading Up 1.6 %

Shares of BAX stock opened at $34.28 on Friday. Baxter International has a twelve month low of $28.34 and a twelve month high of $43.99. The firm has a 50-day moving average price of $33.26 and a 200 day moving average price of $33.58. The company has a market capitalization of $17.58 billion, a price-to-earnings ratio of -26.78, a PEG ratio of 0.93 and a beta of 0.60. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31.

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

Baxter International Announces Dividend

The company 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. This represents a $0.68 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 28th. Baxter International’s dividend payout ratio is -53.13%.

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.