Stifel Nicolaus Has Lowered Expectations for Baxter International (NYSE:BAX) Stock Price

Baxter International (NYSE:BAX) had its price target lowered by Stifel Nicolaus from $46.00 to $38.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the medical instruments supplier’s stock.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group raised their price target on shares of Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Citigroup increased their price objective on shares of Baxter International from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Morgan Stanley lowered shares of Baxter International from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $39.00 to $30.00 in a research note on Monday, July 15th. StockNews.com upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Baxter International from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Baxter International has a consensus rating of “Hold” and an average price target of $40.91.

Baxter International Price Performance

BAX stock opened at $34.22 on Monday. The stock has a market capitalization of $17.46 billion, a PE ratio of 171.10, a price-to-earnings-growth ratio of 1.17 and a beta of 0.60. The company’s 50-day moving average is $37.31 and its 200-day moving average is $36.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91. Baxter International has a 1 year low of $32.48 and a 1 year high of $44.01.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a net margin of 16.51% and a return on equity of 18.06%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.68 EPS. Equities research analysts expect that Baxter International will post 2.93 EPS for the current fiscal year.

Baxter International Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.99%. Baxter International’s payout ratio is presently 580.00%.

Hedge Funds Weigh In On Baxter International

A number of hedge funds have recently modified their holdings of BAX. LSV Asset Management purchased a new position in shares of Baxter International during the second quarter valued at about $140,296,000. Bank of New York Mellon Corp increased its position 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 valued at $226,541,000 after buying an additional 2,862,626 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in Baxter International during the second quarter worth about $67,263,000. Coho Partners Ltd. bought a new stake in Baxter International during the third quarter worth about $57,229,000. Finally, Shapiro Capital Management LLC boosted its stake in Baxter International by 19.7% during the second 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 in the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

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.