Brokerages Set Baxter International Inc. (NYSE:BAX) Price Target at $19.91

Shares of Baxter International Inc. (NYSE:BAX) have been assigned an average recommendation of “Reduce” from the thirteen ratings firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $19.9091.

Several brokerages have weighed in on BAX. Barclays lifted their price objective on Baxter International from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, May 1st. TD Cowen reduced their target price on Baxter International from $22.00 to $20.00 in a report on Friday, May 1st. Evercore decreased their price target on Baxter International from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, April 6th. Zacks Research downgraded Baxter International from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Stifel Nicolaus dropped their price target on Baxter International from $20.00 to $19.00 in a research note on Friday, May 1st.

Baxter International Price Performance

NYSE:BAX opened at $22.61 on Friday. Baxter International has a 52 week low of $15.73 and a 52 week high of $29.35. The firm has a market cap of $11.67 billion, a price-to-earnings ratio of -10.61, a P/E/G ratio of 3.65 and a beta of 0.62. The firm’s 50-day simple moving average is $20.25 and its 200 day simple moving average is $19.35. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.85.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, April 30th. The medical instruments supplier reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. The business had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Baxter International had a negative net margin of 9.70% and a positive return on equity of 16.15%. The business’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 EPS. As a group, sell-side analysts predict that Baxter International will post 1.91 earnings per share for the current year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, May 29th were given a $0.01 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. Baxter International’s payout ratio is presently -1.88%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Greenhaven Associates Inc. lifted its stake in shares of Baxter International by 70.0% during the 4th quarter. Greenhaven Associates Inc. now owns 10,693,223 shares of the medical instruments supplier’s stock valued at $204,347,000 after buying an additional 4,404,874 shares in the last quarter. SG Americas Securities LLC raised its holdings in Baxter International by 477.6% during the 4th quarter. SG Americas Securities LLC now owns 1,725,251 shares of the medical instruments supplier’s stock valued at $32,970,000 after acquiring an additional 1,426,547 shares during the period. Geode Capital Management LLC raised its holdings in Baxter International by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 13,510,205 shares of the medical instruments supplier’s stock valued at $257,174,000 after acquiring an additional 972,891 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Baxter International by 35.6% during the fourth quarter. Russell Investments Group Ltd. now owns 3,410,689 shares of the medical instruments supplier’s stock worth $65,216,000 after acquiring an additional 894,761 shares in the last quarter. Finally, Gendell Jeffrey L bought a new position in shares of Baxter International in the fourth quarter worth $8,525,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

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.