Baxter International (NYSE:BAX) Stock Price Down 2.8%

Baxter International Inc. (NYSE:BAX) shares traded down 2.8% on Monday . The company traded as low as $33.90 and last traded at $33.93. 196,228 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 4,040,541 shares. The stock had previously closed at $34.91.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BAX shares. Evercore ISI dropped their price target on shares of Baxter International from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. The Goldman Sachs Group started coverage on Baxter International in a report on Thursday, May 30th. They issued a “neutral” rating and a $36.00 target price on the stock. TD Cowen downgraded Baxter International from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a report on Friday, May 10th. Finally, Citigroup dropped their price objective 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. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $44.46.

Baxter International Price Performance

The firm has a market cap of $17.45 billion, a PE ratio of 6.53, a P/E/G ratio of 1.75 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. The business’s fifty day moving average is $34.36 and its 200-day moving average is $38.45.

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, topping the consensus estimate of $0.61 by $0.04. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.55 billion. During the same quarter last year, the business posted $0.59 EPS. Baxter International’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, research analysts predict that Baxter International Inc. will post 2.91 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, May 31st were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.16 annualized dividend and a dividend yield of 3.39%. Baxter International’s payout ratio is 22.31%.

Institutional Investors Weigh In On Baxter International

Institutional investors have recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC lifted its stake in shares of Baxter International by 21.1% during the 3rd quarter. SkyView Investment Advisors LLC now owns 6,150 shares of the medical instruments supplier’s stock valued at $232,000 after buying an additional 1,073 shares in the last quarter. Carmignac Gestion lifted its position in shares of Baxter International by 467.0% during the third quarter. Carmignac Gestion now owns 4,848,773 shares of the medical instruments supplier’s stock worth $182,992,000 after acquiring an additional 3,993,537 shares in the last quarter. Headinvest LLC bought a new position in shares of Baxter International in the third quarter worth $25,000. Anchor Investment Management LLC purchased a new position in shares of Baxter International in the fourth quarter valued at $534,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of Baxter International by 17.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,797 shares of the medical instruments supplier’s stock valued at $69,000 after purchasing an additional 261 shares during the period. 90.19% of the stock is owned by hedge funds and other institutional investors.

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.