Baxter International (NYSE:BAX) Downgraded by TD Cowen to Hold

TD Cowen lowered shares of Baxter International (NYSE:BAXFree Report) from a buy rating to a hold rating in a research report sent to investors on Friday, MarketBeat reports. They currently have $40.00 target price on the medical instruments supplier’s stock.

A number of other equities research analysts have also recently issued reports on BAX. Citigroup raised their target price on Baxter International from $41.00 to $44.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd. Bank of America upped 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. JPMorgan Chase & Co. boosted their price objective on Baxter International from $38.00 to $44.00 and gave the stock a neutral rating in a research report on Friday, February 9th. UBS Group lowered their target price on Baxter International from $40.00 to $36.00 and set a neutral rating on the stock in a research report on Tuesday, February 6th. Finally, StockNews.com raised Baxter International from a hold rating to a buy rating in a research note on Friday, January 19th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Baxter International presently has a consensus rating of Hold and an average target price of $45.73.

Get Our Latest Analysis on Baxter International

Baxter International Stock Performance

Shares of NYSE BAX traded down $0.26 during midday trading on Friday, hitting $35.69. The company’s stock had a trading volume of 3,962,996 shares, compared to its average volume of 4,018,423. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.01 and a current ratio of 1.48. Baxter International has a 1-year low of $31.01 and a 1-year high of $50.21. The firm’s fifty day moving average price is $41.09 and its 200-day moving average price is $38.85. The firm has a market cap of $18.19 billion, a P/E ratio of 6.86, a P/E/G ratio of 1.87 and a beta of 0.64.

Baxter International (NYSE:BAXGet Free Report) last issued its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.04. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.55 billion. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. Baxter International’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share. On average, sell-side analysts forecast that Baxter International will post 2.91 EPS for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, May 31st will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.25%. The ex-dividend date is Friday, May 31st. Baxter International’s dividend payout ratio (DPR) is presently 22.31%.

Hedge Funds Weigh In On Baxter International

Hedge funds have recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV raised its holdings in Baxter International by 17.0% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,797 shares of the medical instruments supplier’s stock worth $69,000 after buying an additional 261 shares during the period. Lindbrook Capital LLC boosted its stake in Baxter International by 8.8% in the 4th quarter. Lindbrook Capital LLC now owns 4,586 shares of the medical instruments supplier’s stock worth $177,000 after purchasing an additional 372 shares during the period. EverSource Wealth Advisors LLC grew its position in Baxter International by 20.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,400 shares of the medical instruments supplier’s stock worth $93,000 after purchasing an additional 406 shares in the last quarter. Private Trust Co. NA raised its stake in Baxter International by 8.9% during the 4th quarter. Private Trust Co. NA now owns 5,222 shares of the medical instruments supplier’s stock valued at $202,000 after purchasing an additional 428 shares during the period. Finally, Zions Bancorporation N.A. lifted its holdings in shares of Baxter International by 10.1% in the third quarter. Zions Bancorporation N.A. now owns 4,774 shares of the medical instruments supplier’s stock valued at $180,000 after purchasing an additional 439 shares in the last quarter. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Company Profile

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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.

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Analyst Recommendations for Baxter International (NYSE:BAX)

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