Bank of America downgraded shares of Baxter International (NYSE:BAX – Get Rating) from a buy rating to a neutral rating in a research report released on Tuesday, Marketbeat Ratings reports. The brokerage currently has $55.00 price objective on the medical instruments supplier's stock, down from their previous price objective of $66.00.
Several other equities analysts also recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Baxter International from $72.00 to $70.00 and set an overweight rating for the company in a research note on Tuesday, October 11th. JPMorgan Chase & Co. cut shares of Baxter International from an overweight rating to a neutral rating and decreased their price objective for the stock from $68.00 to $55.00 in a research report on Monday, December 19th. Deutsche Bank Aktiengesellschaft cut shares of Baxter International from a buy rating to a hold rating and decreased their price objective for the stock from $69.00 to $51.00 in a research report on Thursday, December 15th. Wells Fargo & Company decreased their price objective on shares of Baxter International from $59.00 to $57.00 and set an equal weight rating for the company in a research report on Thursday, December 15th. Finally, Jefferies Financial Group initiated coverage on shares of Baxter International in a research report on Wednesday, October 12th. They set a hold rating and a $62.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $63.27.
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Baxter International Price Performance
Shares of NYSE:BAX opened at $48.45 on Tuesday. The company has a market cap of $24.42 billion, a price-to-earnings ratio of -10.26, a PEG ratio of 2.26 and a beta of 0.61. The company has a debt-to-equity ratio of 2.90, a current ratio of 2.11 and a quick ratio of 1.38. The firm has a 50 day simple moving average of $52.58 and a 200 day simple moving average of $57.23. Baxter International has a one year low of $47.86 and a one year high of $89.70.
Baxter International (NYSE:BAX – Get Rating) last released its quarterly earnings results on Thursday, October 27th. The medical instruments supplier reported $0.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.82. The firm had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.77 billion. Baxter International had a negative net
margin of 16.12% and a positive return on equity of 22.65%. Research analysts predict that Baxter International will post 3.57 earnings per share for the current fiscal year.
Baxter International Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 2nd were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Thursday, December 1st. Baxter International's payout ratio is -24.58%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Ally Financial Inc. grew its holdings in shares of Baxter International by 320.0% during the second quarter. Ally Financial Inc. now owns 21,000 shares of the medical instruments supplier's stock valued at $1,349,000 after buying an additional 16,000 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in shares of Baxter International by 5.2% during the second quarter. Deseret Mutual Benefit Administrators now owns 11,348 shares of the medical instruments supplier's stock valued at $729,000 after buying an additional 556 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of Baxter International by 19.2% during the second quarter. Cooke & Bieler LP now owns 1,295,745 shares of the medical instruments supplier's stock valued at $83,226,000 after buying an additional 208,650 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Baxter International by 160.5% during the second quarter. SG Americas Securities LLC now owns 57,059 shares of the medical instruments supplier's stock valued at $3,665,000 after buying an additional 35,158 shares during the last quarter. Finally, FDx Advisors Inc. acquired a new position in shares of Baxter International during the second quarter valued at about $508,000. 84.84% of the stock is currently owned by institutional investors and hedge funds.
Baxter International Company Profile
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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; remixed 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.
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