Baxter International (NYSE:BAX) Price Target Cut to $28.00 by Analysts at Morgan Stanley

Baxter International (NYSE:BAX) had its price objective reduced by Morgan Stanley from $30.00 to $28.00 in a report released on Monday,Benzinga reports. They currently have an underweight rating on the medical instruments supplier’s stock.

A number of other analysts also recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Baxter International in a report on Wednesday, February 26th. They issued a “buy” rating and a $42.00 price objective on the stock. Argus upgraded shares of Baxter International from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. dropped their target price on Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, February 21st. Wells Fargo & Company decreased their price target on Baxter International from $36.00 to $33.00 and set an “equal weight” rating for the company in a research note on Friday, May 2nd. Finally, Barclays increased their price objective on Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Baxter International presently has a consensus rating of “Hold” and an average price target of $37.56.

Baxter International Stock Performance

BAX stock opened at $30.76 on Monday. The business’s 50-day moving average price is $31.79 and its two-hundred day moving average price is $32.08. Baxter International has a 1-year low of $26.25 and a 1-year high of $40.49. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31. The firm has a market cap of $15.78 billion, a PE ratio of -24.03, a P/E/G ratio of 0.93 and a beta of 0.63.

Baxter International (NYSE:BAX) last released its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. As a group, research analysts forecast that Baxter International will post 2.48 earnings per share for the current year.

Baxter International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 30th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.21%. The ex-dividend date is Friday, May 30th. Baxter International’s payout ratio is -61.82%.

Institutional Trading of Baxter International

A number of hedge funds and other institutional investors have recently modified their holdings of BAX. Dodge & Cox increased its holdings in Baxter International by 13.0% in the 4th quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier’s stock worth $1,469,002,000 after purchasing an additional 5,779,100 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Baxter International by 22.3% during the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock worth $447,870,000 after buying an additional 2,803,920 shares during the period. Sound Shore Management Inc. CT bought a new stake in Baxter International during the 4th quarter worth approximately $72,450,000. Thompson Siegel & Walmsley LLC increased its position in Baxter International by 35.1% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,548,215 shares of the medical instruments supplier’s stock valued at $74,306,000 after acquiring an additional 662,042 shares during the period. Finally, ARGA Investment Management LP lifted its holdings in shares of Baxter International by 148.8% during the fourth quarter. ARGA Investment Management LP now owns 870,601 shares of the medical instruments supplier’s stock worth $25,387,000 after purchasing an additional 520,633 shares during the period. Institutional investors own 90.19% of the company’s stock.

Baxter International Company Profile

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.