Baxter International Inc. (NYSE:BAX) Given Consensus Recommendation of “Hold” by Brokerages

Baxter International Inc. (NYSE:BAX) has been assigned a consensus recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $44.46.

Several equities analysts have recently issued reports on the company. TD Cowen cut Baxter International from a “buy” rating to a “hold” rating and set a $40.00 target price on the stock. in a research note on Friday, May 10th. Evercore ISI reduced their target price on Baxter International from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Tuesday. The Goldman Sachs Group assumed coverage on Baxter International in a research note on Thursday, May 30th. They set a “neutral” rating and a $36.00 target price on the stock. Finally, Citigroup reduced their target price on Baxter International from $44.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd.

Institutional Investors Weigh In On Baxter International

Hedge funds have recently added to or reduced their stakes in the stock. Headinvest LLC bought a new stake in Baxter International in the third quarter worth $25,000. Bruce G. Allen Investments LLC bought a new stake in Baxter International in the fourth quarter worth $36,000. Turtle Creek Wealth Advisors LLC bought a new stake in Baxter International in the fourth quarter worth $37,000. Hexagon Capital Partners LLC boosted its holdings in Baxter International by 205.4% in the fourth quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier’s stock worth $37,000 after acquiring an additional 641 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Baxter International in the first quarter worth $39,000. 90.19% of the stock is owned by institutional investors.

Baxter International Stock Performance

Shares of BAX opened at $33.12 on Thursday. The company has a market cap of $16.88 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 1.74 and a beta of 0.57. The company has a current ratio of 1.48, a quick ratio of 1.01 and a debt-to-equity ratio of 1.35. The stock has a 50-day moving average price of $35.03 and a 200-day moving average price of $38.62. Baxter International has a 12-month low of $31.01 and a 12-month high of $50.21.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. The firm had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.55 billion. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.59 EPS. As a group, equities analysts forecast that Baxter International will post 2.91 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, May 31st were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.50%. The ex-dividend date was Friday, May 31st. Baxter International’s dividend payout ratio (DPR) is 22.31%.

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.