Baxter International (NYSE:BAX) Upgraded to “Buy” by StockNews.com

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

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

Baxter International Stock Down 0.7 %

Shares of NYSE:BAX opened at $38.49 on Tuesday. The firm has a market capitalization of $19.61 billion, a PE ratio of 7.40, a price-to-earnings-growth ratio of 1.33 and a beta of 0.59. The business has a 50 day simple moving average of $37.02 and a two-hundred day simple moving average of $37.40. Baxter International has a 1 year low of $31.01 and a 1 year high of $44.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91.

Baxter International (NYSE:BAX) last posted its quarterly earnings data on Tuesday, August 6th. The medical instruments supplier reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Baxter International had a return on equity of 18.06% and a net margin of 16.51%. The company had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.75 billion. During the same quarter in the previous year, the business earned $0.55 EPS. Baxter International’s revenue was up 2.8% compared to the same quarter last year. On average, equities analysts predict that Baxter International will post 2.96 EPS for the current year.

Baxter International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, August 30th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.16 dividend on an annualized basis and a yield of 3.01%. Baxter International’s dividend payout ratio is presently 22.31%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Baxter International in the 2nd quarter worth $27,000. LRI Investments LLC purchased a new stake in shares of Baxter International during the first quarter worth about $39,000. United Community Bank acquired a new position in shares of Baxter International during the fourth quarter valued at about $43,000. Versant Capital Management Inc raised its position in shares of Baxter International by 974.2% in the 2nd 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 raised its position in shares of Baxter International by 31.0% in the 4th quarter. Trust Co. of Vermont now owns 1,870 shares of the medical instruments supplier’s stock valued at $72,000 after purchasing an additional 443 shares during the last quarter. Hedge funds and other institutional investors 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.