Baxter International (NYSE:BAX) Stock Price Up 6.4%

Shares of Baxter International Inc. (NYSE:BAX) rose 6.4% during mid-day trading on Tuesday . The company traded as high as $36.97 and last traded at $36.85. Approximately 1,337,835 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 4,187,437 shares. The stock had previously closed at $34.64.

Wall Street Analysts Forecast Growth

BAX has been the topic of a number of analyst reports. 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 objective on the stock. StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Evercore ISI decreased their price objective 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. TD Cowen cut 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, Citigroup reduced their price target on shares of Baxter International from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.70.

Baxter International Price Performance

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 firm’s 50 day moving average is $34.26 and its 200 day moving average is $37.94. The firm has a market cap of $18.83 billion, a P/E ratio of 7.18, a price-to-earnings-growth ratio of 1.88 and a beta of 0.57.

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, August 30th. Baxter International’s payout ratio is currently 22.31%.

Institutional Investors Weigh In On Baxter International

Several hedge funds have recently bought and sold shares of the business. Cullen Frost Bankers Inc. lifted its stake in shares of Baxter International by 1.7% in the second quarter. Cullen Frost Bankers Inc. now owns 116,578 shares of the medical instruments supplier’s stock worth $3,900,000 after buying an additional 1,990 shares in the last quarter. Archer Investment Corp lifted its position in Baxter International by 20.8% during the second quarter. Archer Investment Corp now owns 2,235 shares of the medical instruments supplier’s stock valued at $75,000 after purchasing an additional 385 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Baxter International by 0.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 43,751 shares of the medical instruments supplier’s stock valued at $1,463,000 after purchasing an additional 310 shares during the period. TIAA Trust National Association lifted its position in Baxter International by 6.8% during the second quarter. TIAA Trust National Association now owns 13,781 shares of the medical instruments supplier’s stock valued at $461,000 after purchasing an additional 880 shares during the period. Finally, Graypoint LLC lifted its position in Baxter International by 19.2% during the second quarter. Graypoint LLC now owns 16,243 shares of the medical instruments supplier’s stock valued at $543,000 after purchasing an additional 2,616 shares during the period. Institutional investors 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.