Baxter International (NYSE:BAX) Price Target Lowered to $19.00 at Citigroup

Baxter International (NYSE:BAX) had its target price decreased by Citigroup from $21.00 to $19.00 in a research report report published on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the medical instruments supplier’s stock.

Several other research analysts have also commented on BAX. The Goldman Sachs Group dropped their price target on Baxter International from $21.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Zacks Research upgraded Baxter International from a “strong sell” rating to a “hold” rating in a research report on Monday, March 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Baxter International in a research note on Wednesday, January 21st. Evercore cut their target price on Baxter International from $24.00 to $23.00 in a research report on Monday, January 5th. Finally, Wall Street Zen lowered Baxter International from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.90.

Baxter International Price Performance

Baxter International stock opened at $18.05 on Wednesday. The company has a market cap of $9.29 billion, a price-to-earnings ratio of -9.76, a PEG ratio of 1.22 and a beta of 0.58. The firm’s fifty day moving average is $20.08 and its 200 day moving average is $20.71. The company has a quick ratio of 1.56, a current ratio of 2.31 and a debt-to-equity ratio of 1.55. Baxter International has a 52-week low of $17.00 and a 52-week high of $35.77.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, February 12th. The medical instruments supplier reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.09). Baxter International had a positive return on equity of 16.95% and a negative net margin of 8.51%.The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the business earned $0.58 earnings per share. The business’s quarterly revenue was up 8.0% on a year-over-year basis. Baxter International has set its FY 2026 guidance at 1.850-2.050 EPS. Sell-side analysts forecast that Baxter International will post 2.48 EPS for the current fiscal year.

Baxter International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, February 27th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, February 27th. Baxter International’s payout ratio is -2.16%.

Institutional Investors Weigh In On Baxter International

Several hedge funds and other institutional investors have recently modified their holdings of the business. Atlantic Union Bankshares Corp bought a new position in Baxter International in the 2nd quarter valued at $48,000. Forsta AP Fonden lifted its position in shares of Baxter International by 8.7% during the second quarter. Forsta AP Fonden now owns 93,300 shares of the medical instruments supplier’s stock worth $2,825,000 after purchasing an additional 7,500 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Baxter International by 2.6% during the second quarter. Geode Capital Management LLC now owns 12,882,960 shares of the medical instruments supplier’s stock worth $388,416,000 after purchasing an additional 326,652 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Baxter International by 4.9% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 77,419 shares of the medical instruments supplier’s stock valued at $2,344,000 after purchasing an additional 3,588 shares during the period. Finally, MTM Investment Management LLC purchased a new stake in shares of Baxter International during the second quarter valued at $30,000. 90.19% of the stock is currently owned by hedge funds and other institutional investors.

Baxter International Company Profile

Baxter International Inc is a global healthcare company that develops, manufactures and markets a broad portfolio of medical products, pharmaceutical therapies and biotechnology-based solutions. The company’s primary business activities are organized around renal care, medication delivery, acute therapies, pharmacy automation, surgical care and biotechnology. Baxter’s offerings are designed to support patient care in hospitals, dialysis centers, nursing homes and other healthcare facilities worldwide.

In the renal care segment, Baxter provides hemodialysis and peritoneal dialysis systems, water treatment equipment and related disposables, including dialyzers, bloodlines and catheters.