Citigroup Cuts Baxter International (NYSE:BAX) Price Target to $37.00

Baxter International (NYSE:BAX) had its target price decreased by Citigroup from $38.00 to $37.00 in a research note published on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the medical instruments supplier’s stock.

Several other brokerages also recently issued reports on BAX. Evercore ISI decreased their price objective on shares of Baxter International from $46.00 to $45.00 and set an outperform rating for the company in a research note on Tuesday, July 2nd. The Goldman Sachs Group started coverage on shares of Baxter International in a research report on Thursday, May 30th. They set a neutral rating and a $36.00 target price on the stock. Finally, TD Cowen lowered shares of Baxter International from a buy rating to a hold rating and set a $40.00 price objective on the stock. in a report on Friday, May 10th. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $43.42.

Baxter International Stock Up 0.3 %

Shares of NYSE:BAX opened at $35.32 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.01 and a debt-to-equity ratio of 1.35. Baxter International has a 12 month low of $31.01 and a 12 month high of $50.21. The company has a 50-day moving average price of $34.17 and a 200 day moving average price of $38.38. The company has a market cap of $18.00 billion, a price-to-earnings ratio of 6.79, a PEG ratio of 1.78 and a beta of 0.57.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 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 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 quarter last year, the firm earned $0.59 EPS. As a group, equities research analysts predict that Baxter International will post 2.91 earnings per share for the current year.

Baxter International Dividend Announcement

The company also recently declared 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 3.28%. The ex-dividend date was Friday, May 31st. Baxter International’s dividend payout ratio is currently 22.31%.

Hedge Funds Weigh In On Baxter International

Several institutional investors and hedge funds have recently bought and sold shares of BAX. Headinvest LLC purchased a new position in Baxter International in the third quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Baxter International during the fourth quarter worth $36,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Baxter International during the fourth quarter worth $37,000. Hexagon Capital Partners LLC lifted its stake in shares of Baxter International by 205.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 641 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of Baxter International during the first quarter worth $39,000. 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.