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

Shares of Baxter International Inc. (NYSE:BAX) have earned an average recommendation of “Hold” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $44.42.

BAX has been the subject of several research reports. The Goldman Sachs Group began 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 for the company. Citigroup decreased their target price on shares of Baxter International from $44.00 to $38.00 and set a “neutral” rating for the company in a research note on Wednesday, May 22nd. TD Cowen cut 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, Bank of America increased their price objective on Baxter International from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th.

Baxter International Stock Down 1.2 %

BAX stock opened at $33.07 on Thursday. The stock has a market cap of $16.85 billion, a P/E ratio of 6.36, a PEG 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. Baxter International has a twelve month low of $31.01 and a twelve month high of $50.21. The company’s 50 day moving average is $35.34 and its two-hundred day moving average is $38.70.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.04. The business 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 business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 EPS. Research analysts expect that Baxter International will post 2.91 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date was Friday, May 31st. Baxter International’s dividend payout ratio (DPR) is currently 22.31%.

Hedge Funds Weigh In On Baxter International

Large investors have recently made changes to their positions in the stock. Headinvest LLC acquired a new position in Baxter International during the third quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new position in Baxter International during the fourth quarter worth $36,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Baxter International in the fourth quarter valued at $37,000. Hexagon Capital Partners LLC raised its stake in shares of Baxter International by 205.4% during the 4th 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 last quarter. Finally, LRI Investments LLC purchased a new stake in shares of Baxter International in the 1st quarter worth about $39,000. Hedge funds and other 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.