Baxter International (NYSE:BAX) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Baxter International (NYSE:BAX) from a hold rating to a buy rating in a research report report published on Tuesday.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley downgraded shares of Baxter International from an equal weight rating to an underweight rating and decreased their target price for the stock from $39.00 to $30.00 in a research note on Monday, July 15th. JPMorgan Chase & Co. lowered their target price on Baxter International from $44.00 to $42.00 and set a neutral rating on the stock in a research note on Wednesday, August 7th. Wells Fargo & Company cut their price target on Baxter International from $44.00 to $40.00 and set an equal weight rating for the company in a research note on Wednesday, August 7th. Citigroup lowered their price objective on shares of Baxter International from $38.00 to $37.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Finally, Evercore ISI cut their price objective on shares of Baxter International from $46.00 to $45.00 and set an outperform rating for the company in a research report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $41.73.

Baxter International Price Performance

Shares of BAX opened at $38.76 on Tuesday. The firm has a market capitalization of $19.75 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 1.33 and a beta of 0.59. The firm’s fifty day simple moving average is $36.95 and its 200-day simple moving average is $37.43. Baxter International has a twelve month low of $31.01 and a twelve month high of $44.01. The company has a current ratio of 1.40, a quick ratio of 0.91 and a debt-to-equity ratio of 1.35.

Baxter International (NYSE:BAX) last issued its earnings results on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.02. The business had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $0.55 EPS. Equities analysts forecast that Baxter International will post 2.96 EPS for the current fiscal year.

Baxter International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, August 30th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, August 30th. Baxter International’s dividend payout ratio is currently 22.31%.

Hedge Funds Weigh In On Baxter International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Innealta Capital LLC purchased a new position in shares of Baxter International in the second quarter valued at $27,000. LRI Investments LLC acquired a new position in Baxter International during the first quarter worth about $39,000. United Community Bank purchased a new stake in shares of Baxter International in the fourth quarter valued at about $43,000. Versant Capital Management Inc grew its position in shares of Baxter International by 974.2% in the second quarter. Versant Capital Management Inc now owns 1,332 shares of the medical instruments supplier’s stock valued at $45,000 after purchasing an additional 1,208 shares during the last quarter. Finally, Trust Co. of Vermont increased its stake in shares of Baxter International by 31.0% during the 4th quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock worth $72,000 after purchasing an additional 443 shares in the last quarter. 90.19% of the stock is owned by institutional investors and hedge funds.

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.