Baxter International (NYSE:BAX) Stock Price Down 7.5%

Baxter International Inc. (NYSE:BAX) traded down 7.5% during mid-day trading on Thursday . The company traded as low as $37.15 and last traded at $37.30. 1,538,385 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 3,578,261 shares. The stock had previously closed at $40.34.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BAX shares. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a research report on Friday, January 19th. Bank of America lifted their target price on shares of Baxter International from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. Citigroup boosted their price target on shares of Baxter International from $41.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, April 3rd. UBS Group decreased their price objective on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Finally, Barclays boosted their target price on shares of Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Baxter International currently has a consensus rating of “Hold” and a consensus target price of $46.30.

Baxter International Trading Down 9.6 %

The firm has a market capitalization of $18.53 billion, a PE ratio of 7.16, a price-to-earnings-growth ratio of 2.17 and a beta of 0.64. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.48 and a quick ratio of 1.04. The company has a fifty day moving average of $41.74 and a 200-day moving average of $38.72.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, February 8th. The medical instruments supplier reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The company had revenue of $3.89 billion during the quarter, compared to the consensus estimate of $3.81 billion. Baxter International had a return on equity of 19.49% and a net margin of 17.77%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business earned $0.88 EPS. On average, sell-side analysts anticipate that Baxter International Inc. will post 2.89 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend was Thursday, February 29th. Baxter International’s payout ratio is presently 22.22%.

Institutional Investors Weigh In On Baxter International

Several hedge funds have recently modified their holdings of BAX. Valeo Financial Advisors LLC grew its position in Baxter International by 33.8% in the 3rd quarter. Valeo Financial Advisors LLC now owns 7,063 shares of the medical instruments supplier’s stock worth $267,000 after purchasing an additional 1,785 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Baxter International by 69.0% during the third quarter. Bank of New York Mellon Corp now owns 6,491,343 shares of the medical instruments supplier’s stock valued at $244,983,000 after acquiring an additional 2,650,959 shares during the period. Lindbrook Capital LLC raised its holdings in Baxter International by 8.2% in the 3rd quarter. Lindbrook Capital LLC now owns 4,214 shares of the medical instruments supplier’s stock valued at $159,000 after acquiring an additional 318 shares in the last quarter. Graypoint LLC lifted its position in shares of Baxter International by 154.7% in the 3rd quarter. Graypoint LLC now owns 13,573 shares of the medical instruments supplier’s stock worth $512,000 after acquiring an additional 8,245 shares during the period. Finally, TIAA Trust National Association acquired a new stake in shares of Baxter International during the 3rd quarter worth approximately $614,000. 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.