Baxter International Inc. (NYSE:BAX) Receives $41.73 Consensus Target Price from Brokerages

Shares of Baxter International Inc. (NYSE:BAX) have received a consensus recommendation of “Hold” from the eleven brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $41.73.

A number of research analysts have issued reports on the stock. Citigroup reduced their target price on shares of Baxter International from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Morgan Stanley downgraded shares of Baxter International from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $39.00 to $30.00 in a research note on Monday, July 15th. The Goldman Sachs Group lifted their target price on shares of Baxter International from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut their price target on Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Finally, Wells Fargo & Company decreased their price objective on Baxter International from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 7th.

Baxter International Trading Up 1.4 %

NYSE:BAX opened at $40.26 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.40 and a debt-to-equity ratio of 1.35. The stock has a fifty day simple moving average of $36.66 and a 200-day simple moving average of $37.42. Baxter International has a 52-week low of $31.01 and a 52-week high of $44.01. The company has a market capitalization of $20.52 billion, a PE ratio of 7.74, a price-to-earnings-growth ratio of 1.33 and a beta of 0.59.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 EPS for the quarter, beating the consensus estimate of $0.66 by $0.02. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same period in the prior year, the business earned $0.55 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Baxter International will post 2.96 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, August 30th. Baxter International’s dividend payout ratio is presently 22.31%.

Institutional Trading of Baxter International

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its stake in shares of Baxter International by 73.2% during the second quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier’s stock worth $226,541,000 after purchasing an additional 2,862,626 shares in the last quarter. Carmignac Gestion raised its holdings in shares of Baxter International by 9.5% during the 4th quarter. Carmignac Gestion now owns 5,311,012 shares of the medical instruments supplier’s stock valued at $205,324,000 after buying an additional 462,239 shares during the period. LSV Asset Management acquired a new position in Baxter International during the 2nd quarter worth approximately $140,296,000. Shapiro Capital Management LLC boosted its holdings in Baxter International by 19.7% in the 2nd quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier’s stock worth $109,885,000 after acquiring an additional 541,575 shares during the period. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in Baxter International in the second quarter valued at approximately $67,263,000. 90.19% of the stock is owned by hedge funds and other institutional investors.

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.