Baxter International (NYSE:BAX) Price Target Raised to $41.00

Baxter International (NYSE:BAX) had its target price increased by Barclays from $39.00 to $41.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the medical instruments supplier’s stock.

A number of other research analysts have also issued reports on the stock. Stifel Nicolaus decreased their target price on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Citigroup reduced their price target on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. The Goldman Sachs Group started coverage on shares of Baxter International in a research report on Wednesday, February 26th. They set a “buy” rating and a $42.00 price target on the stock. StockNews.com lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.56.

Baxter International Trading Down 4.2 %

Baxter International stock opened at $34.34 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. The firm has a 50-day moving average of $32.25 and a 200-day moving average of $34.02. The company has a market cap of $17.57 billion, a price-to-earnings ratio of -26.83, a P/E/G ratio of 0.93 and a beta of 0.60. Baxter International has a one year low of $28.34 and a one year high of $43.99.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. On average, equities analysts expect that Baxter International will post 2.48 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, February 28th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, February 28th. Baxter International’s dividend payout ratio is presently -53.13%.

Institutional Investors Weigh In On Baxter International

Several hedge funds and other institutional investors have recently bought and sold shares of BAX. Dodge & Cox grew its holdings in shares of Baxter International by 13.0% during the fourth quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier’s stock valued at $1,469,002,000 after buying an additional 5,779,100 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Baxter International by 22.3% during the 4th quarter. Bank of New York Mellon Corp now owns 15,359,040 shares of the medical instruments supplier’s stock worth $447,870,000 after acquiring an additional 2,803,920 shares during the period. Sound Shore Management Inc. CT bought a new stake in Baxter International during the 4th quarter worth approximately $72,450,000. Thompson Siegel & Walmsley LLC grew its stake in Baxter International by 35.1% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,548,215 shares of the medical instruments supplier’s stock worth $74,306,000 after buying an additional 662,042 shares in the last quarter. Finally, ARGA Investment Management LP boosted its stake in shares of Baxter International by 148.8% in the 4th quarter. ARGA Investment Management LP now owns 870,601 shares of the medical instruments supplier’s stock valued at $25,387,000 after purchasing an additional 520,633 shares in the last quarter. 90.19% of the stock is owned by institutional investors.

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.