Baxter International’s (BAX) “Hold” Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus reaffirmed their hold rating on shares of Baxter International (NYSE:BAX) in a research note published on Monday, MarketBeat reports. Stifel Nicolaus currently has a $25.00 target price on the medical instruments supplier’s stock, down from their previous target price of $36.00.

Several other equities analysts also recently weighed in on the company. Evercore ISI reduced their target price on Baxter International from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. The Goldman Sachs Group downgraded shares of Baxter International from a “buy” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research note on Friday, August 1st. Wells Fargo & Company cut their price objective on shares of Baxter International from $33.00 to $24.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Wall Street Zen downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Citigroup cut their price target on shares of Baxter International from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.11.

Baxter International Price Performance

Baxter International stock opened at $22.49 on Monday. The stock has a market capitalization of $11.54 billion, a P/E ratio of -74.98, a P/E/G ratio of 0.74 and a beta of 0.59. Baxter International has a 12-month low of $21.33 and a 12-month high of $40.49. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.02 and a quick ratio of 1.40. The firm’s 50-day moving average is $29.05 and its two-hundred day moving average is $30.86.

Baxter International (NYSE:BAX) last released its earnings results on Thursday, July 31st. The medical instruments supplier reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). Baxter International had a positive return on equity of 16.93% and a negative net margin of 1.42%. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Equities analysts predict that Baxter International will post 2.48 earnings per share for the current year.

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, August 29th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, August 29th. Baxter International’s payout ratio is currently -226.67%.

Hedge Funds Weigh In On Baxter International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Atlantic Union Bankshares Corp acquired a new position in Baxter International during the 2nd quarter worth approximately $48,000. Tredje AP fonden grew its position in Baxter International by 86.7% in the second quarter. Tredje AP fonden now owns 73,682 shares of the medical instruments supplier’s stock valued at $2,231,000 after acquiring an additional 34,216 shares in the last quarter. Cooke & Bieler LP raised its stake in shares of Baxter International by 10.8% during the second quarter. Cooke & Bieler LP now owns 1,750,510 shares of the medical instruments supplier’s stock valued at $53,005,000 after purchasing an additional 170,560 shares during the period. Creative Financial Designs Inc. ADV lifted its position in shares of Baxter International by 169.6% during the second quarter. Creative Financial Designs Inc. ADV now owns 984 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 619 shares in the last quarter. Finally, Oarsman Capital Inc. acquired a new position in shares of Baxter International during the second quarter worth $213,000. Institutional investors and hedge funds own 90.19% of the company’s stock.

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.