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

Shares of Baxter International Inc. (NYSE:BAX) have earned an average rating of “Hold” from the fourteen research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $51.07.

A number of equities research analysts recently issued reports on the company. KeyCorp lowered their price objective on Baxter International from $53.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, July 31st. Citigroup dropped their price target on shares of Baxter International from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, August 21st. Stifel Nicolaus lifted their price objective on shares of Baxter International from $54.00 to $56.00 in a research note on Wednesday, July 12th. StockNews.com started coverage on Baxter International in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Barclays reduced their price target on Baxter International from $58.00 to $54.00 and set an “overweight” rating for the company in a research report on Monday, July 31st.

Institutional Trading of Baxter International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC bought a new position in Baxter International in the 4th quarter worth about $211,000. American International Group Inc. grew its stake in Baxter International by 6.3% in the fourth quarter. American International Group Inc. now owns 155,451 shares of the medical instruments supplier’s stock worth $7,923,000 after purchasing an additional 9,259 shares in the last quarter. CoreFirst Bank & Trust increased its holdings in Baxter International by 23.6% during the 4th quarter. CoreFirst Bank & Trust now owns 4,977 shares of the medical instruments supplier’s stock worth $254,000 after purchasing an additional 951 shares during the period. Van ECK Associates Corp bought a new stake in Baxter International during the 4th quarter valued at $386,000. Finally, North Star Investment Management Corp. lifted its holdings in shares of Baxter International by 95.6% in the 1st quarter. North Star Investment Management Corp. now owns 11,265 shares of the medical instruments supplier’s stock worth $457,000 after buying an additional 5,507 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

Baxter International Stock Down 2.6 %

Baxter International stock opened at $40.60 on Friday. The company has a market capitalization of $20.56 billion, a PE ratio of -7.17, a PEG ratio of 2.95 and a beta of 0.60. Baxter International has a 12-month low of $37.35 and a 12-month high of $60.39. The firm’s fifty day moving average is $44.57 and its 200 day moving average is $42.87. The company has a quick ratio of 0.92, a current ratio of 1.42 and a debt-to-equity ratio of 2.54.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.55 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.04). The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.79 billion. Baxter International had a negative net margin of 19.00% and a positive return on equity of 24.94%. As a group, sell-side analysts predict that Baxter International will post 2.55 EPS for the current fiscal year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, August 31st. This represents a $1.16 dividend on an annualized basis and a yield of 2.86%. Baxter International’s dividend payout ratio (DPR) is presently -20.49%.

About Baxter International

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; premixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.