Baxter International (NYSE:BAX) Downgraded by StockNews.com to “Hold”

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

BAX has been the topic of several other reports. The Goldman Sachs Group raised their price target on Baxter International from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Stifel Nicolaus dropped their price target on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday. Wells Fargo & Company reduced their price objective on Baxter International from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley lowered shares of Baxter International from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $39.00 to $30.00 in a research report on Monday, July 15th. Finally, JPMorgan Chase & Co. reduced their price target 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Baxter International has an average rating of “Hold” and a consensus target price of $40.91.

Baxter International Stock Down 2.8 %

Shares of BAX stock opened at $31.71 on Monday. The stock’s 50 day simple moving average is $37.13 and its 200 day simple moving average is $35.94. Baxter International has a twelve month low of $31.61 and a twelve month high of $44.01. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40. The company has a market capitalization of $16.18 billion, a price-to-earnings ratio of 161.66, a PEG ratio of 11.44 and a beta of 0.60.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.19%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share. As a group, research analysts predict that Baxter International will post 2.33 EPS for the current year.

Baxter International Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, November 29th. Baxter International’s dividend payout ratio is currently 580.03%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BAX. CKW Financial Group raised its stake in shares of Baxter International by 100.0% in the third quarter. CKW Financial Group now owns 2,200 shares of the medical instruments supplier’s stock worth $81,000 after acquiring an additional 1,100 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in Baxter International by 21.9% during the 3rd quarter. Raymond James Trust N.A. now owns 33,071 shares of the medical instruments supplier’s stock worth $1,256,000 after buying an additional 5,931 shares in the last quarter. Sivik Global Healthcare LLC boosted its position in Baxter International by 50.0% in the 3rd quarter. Sivik Global Healthcare LLC now owns 150,000 shares of the medical instruments supplier’s stock valued at $5,696,000 after buying an additional 50,000 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Baxter International by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,139,074 shares of the medical instruments supplier’s stock valued at $43,251,000 after buying an additional 12,773 shares during the period. Finally, Entropy Technologies LP raised its position in shares of Baxter International by 213.5% during the third quarter. Entropy Technologies LP now owns 23,192 shares of the medical instruments supplier’s stock worth $881,000 after acquiring an additional 15,794 shares during the last quarter. 90.19% of the stock is owned by institutional investors.

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.