Baxter International (NYSE:BAX) PT Lowered to $45.00

Baxter International (NYSE:BAX) had its price target decreased by Evercore ISI from $46.00 to $45.00 in a report released on Tuesday, Benzinga reports. Evercore ISI currently has an outperform rating on the medical instruments supplier’s stock.

A number of other research firms also recently issued reports on BAX. Bank of America raised their price target on shares of Baxter International from $42.00 to $45.00 and gave the stock a neutral rating in a research report on Tuesday, March 5th. Citigroup reduced their price target on shares of Baxter International from $44.00 to $38.00 and set a neutral rating on the stock in a research report on Wednesday, May 22nd. TD Cowen downgraded shares of Baxter International from a buy rating to a hold rating and set a $40.00 price target on the stock. in a research report on Friday, May 10th. Finally, The Goldman Sachs Group initiated coverage on shares of Baxter International in a research report on Thursday, May 30th. They issued a neutral rating and a $36.00 price target on the stock. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Baxter International has an average rating of Hold and a consensus price target of $44.46.

Baxter International Price Performance

Shares of BAX stock opened at $33.16 on Tuesday. The firm has a market cap of $16.90 billion, a P/E ratio of 6.38, a P/E/G ratio of 1.71 and a beta of 0.57. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.48 and a quick ratio of 1.01. Baxter International has a 1-year low of $31.01 and a 1-year high of $50.21. The firm has a fifty day moving average of $34.87 and a two-hundred day moving average of $38.58.

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

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, May 31st were paid a $0.29 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.16 annualized dividend and a dividend yield of 3.50%. Baxter International’s dividend payout ratio is currently 22.31%.

Hedge Funds Weigh In On Baxter International

Several hedge funds have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV grew its stake in shares of Baxter International by 17.0% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,797 shares of the medical instruments supplier’s stock worth $69,000 after purchasing an additional 261 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Baxter International by 8.8% in the 4th quarter. Lindbrook Capital LLC now owns 4,586 shares of the medical instruments supplier’s stock worth $177,000 after purchasing an additional 372 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Baxter International by 20.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,400 shares of the medical instruments supplier’s stock worth $93,000 after acquiring an additional 406 shares in the last quarter. Private Trust Co. NA increased its position in shares of Baxter International by 8.9% in the fourth quarter. Private Trust Co. NA now owns 5,222 shares of the medical instruments supplier’s stock worth $202,000 after acquiring an additional 428 shares in the last quarter. Finally, Trust Co. of Vermont increased its position in shares of Baxter International by 31.0% in the fourth quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock worth $72,000 after acquiring an additional 443 shares in the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

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.