Baxter International Inc. (NYSE:BAX) Receives $46.30 Average PT from Analysts

Baxter International Inc. (NYSE:BAX) has earned an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $46.30.

BAX has been the subject of a number of recent analyst reports. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. Bank of America increased their price target on Baxter International from $42.00 to $45.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Citigroup increased their price target on Baxter International from $41.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. increased their price target on Baxter International from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, UBS Group decreased their price target on Baxter International from $40.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th.

Institutional Investors Weigh In On Baxter International

A number of institutional investors have recently bought and sold shares of BAX. Dodge & Cox raised its stake in shares of Baxter International by 178.0% during the 4th quarter. Dodge & Cox now owns 27,381,465 shares of the medical instruments supplier’s stock worth $1,058,567,000 after purchasing an additional 17,533,024 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in shares of Baxter International during the 3rd quarter worth about $215,935,000. Carmignac Gestion raised its stake in shares of Baxter International by 467.0% during the 3rd quarter. Carmignac Gestion now owns 4,848,773 shares of the medical instruments supplier’s stock worth $182,992,000 after purchasing an additional 3,993,537 shares in the last quarter. Shapiro Capital Management LLC purchased a new stake in shares of Baxter International during the 3rd quarter worth about $114,307,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Baxter International by 69.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,491,343 shares of the medical instruments supplier’s stock worth $244,983,000 after purchasing an additional 2,650,959 shares in the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Baxter International Trading Down 0.5 %

Shares of BAX stock opened at $39.47 on Friday. The stock has a 50-day simple moving average of $41.80 and a 200 day simple moving average of $38.41. Baxter International has a fifty-two week low of $31.01 and a fifty-two week high of $50.21. The stock has a market capitalization of $20.04 billion, a P/E ratio of 7.56, a P/E/G ratio of 2.13 and a beta of 0.62. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 1.31.

Baxter International (NYSE:BAX) last announced its earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.02. Baxter International had a return on equity of 19.49% and a net margin of 17.77%. The business had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter last year, the business posted $0.88 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts expect that Baxter International will post 2.89 earnings per share for the current fiscal year.

Baxter International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.16 dividend on an annualized basis and a yield of 2.94%. Baxter International’s payout ratio is presently 22.22%.

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.