Baxter International (NYSE:BAX) Given New $36.00 Price Target at Barclays

Baxter International (NYSE:BAX) had its price target lowered by Barclays from $41.00 to $36.00 in a report issued on Monday,Benzinga reports. The firm currently has an overweight rating on the medical instruments supplier’s stock.

Other research analysts have also issued reports about the stock. UBS Group lowered their target price on shares of Baxter International from $35.00 to $24.00 and set a “neutral” rating on the stock in a research note on Monday. The Goldman Sachs Group lowered shares of Baxter International from a “buy” rating to a “neutral” rating and set a $25.00 target price on the stock. in a research note on Friday. Evercore ISI reduced their price target on shares of Baxter International from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. Morgan Stanley reduced their price target on shares of Baxter International from $28.00 to $27.00 and set an “underweight” rating for the company in a report on Tuesday, July 15th. Finally, Wall Street Zen downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Baxter International has a consensus rating of “Hold” and a consensus target price of $30.11.

Baxter International Stock Performance

Shares of BAX opened at $22.41 on Monday. The company’s fifty day moving average is $29.37 and its 200-day moving average is $30.97. Baxter International has a 12 month low of $21.33 and a 12 month high of $40.49. The firm has a market cap of $11.50 billion, a price-to-earnings ratio of -74.70, a price-to-earnings-growth ratio of 0.71 and a beta of 0.59. The company has a quick ratio of 1.40, a current ratio of 2.02 and a debt-to-equity ratio of 1.33.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, July 31st. The medical instruments supplier reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Baxter International had a negative net margin of 1.42% and a positive return on equity of 16.93%. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the business posted $0.68 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts expect that Baxter International will post 2.48 EPS for the current fiscal year.

Baxter International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 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 3.0%. The ex-dividend date of this dividend is Friday, August 29th. Baxter International’s dividend payout ratio (DPR) is presently -226.67%.

Hedge Funds Weigh In On Baxter International

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Horizon Investments LLC lifted its holdings in shares of Baxter International by 5.0% during the 1st quarter. Horizon Investments LLC now owns 7,438 shares of the medical instruments supplier’s stock worth $255,000 after acquiring an additional 351 shares during the period. Rothschild Investment LLC lifted its holdings in shares of Baxter International by 3.4% during the 1st quarter. Rothschild Investment LLC now owns 14,479 shares of the medical instruments supplier’s stock worth $496,000 after acquiring an additional 481 shares during the period. Archer Investment Corp lifted its holdings in Baxter International by 20.5% during the 1st quarter. Archer Investment Corp now owns 2,935 shares of the medical instruments supplier’s stock valued at $100,000 after purchasing an additional 500 shares during the last quarter. Home Federal Bank of Tennessee lifted its holdings in Baxter International by 2.5% during the 1st quarter. Home Federal Bank of Tennessee now owns 22,600 shares of the medical instruments supplier’s stock valued at $774,000 after purchasing an additional 550 shares during the last quarter. Finally, Private Trust Co. NA lifted its holdings in Baxter International by 17.3% during the 1st quarter. Private Trust Co. NA now owns 3,822 shares of the medical instruments supplier’s stock valued at $131,000 after purchasing an additional 565 shares during the last quarter. 90.19% of the stock is owned by institutional investors.

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.