Baxter International (NYSE:BAX) Reaches New 52-Week Low – What’s Next?

Baxter International Inc. (NYSE:BAX)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $29.86 and last traded at $29.95, with a volume of 361343 shares. The stock had previously closed at $30.32.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on BAX shares. Citigroup lowered their target price on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. StockNews.com cut shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Stifel Nicolaus dropped their price objective on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Baxter International currently has a consensus rating of “Hold” and an average price target of $40.45.

Baxter International Price Performance

The stock’s 50 day moving average price is $34.18 and its two-hundred day moving average price is $35.36. The firm has a market capitalization of $15.13 billion, a price-to-earnings ratio of 148.20, a P/E/G ratio of 12.74 and a beta of 0.57. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 EPS. Analysts anticipate that Baxter International Inc. will post 1.92 EPS for the current fiscal year.

Baxter International Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, November 29th. Baxter International’s dividend payout ratio is presently 340.00%.

Institutional Trading of Baxter International

Several large investors have recently made changes to their positions in the company. First PREMIER Bank bought a new stake in shares of Baxter International in the 3rd quarter valued at $25,000. Innealta Capital LLC bought a new stake in Baxter International in the 2nd quarter worth about $27,000. Fortitude Family Office LLC bought a new stake in shares of Baxter International during the 3rd quarter worth $38,000. LRI Investments LLC raised its holdings in shares of Baxter International by 60.8% in the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after purchasing an additional 590 shares during the period. Finally, Cromwell Holdings LLC bought a new position in Baxter International during the third quarter worth about $62,000. Institutional investors and hedge funds 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.