Evercore ISI Cuts Baxter International (NYSE:BAX) Price Target to $45.00

Baxter International (NYSE:BAX) had its target price reduced by Evercore ISI from $46.00 to $45.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an outperform rating on the medical instruments supplier’s stock.

Several other brokerages have also issued reports on BAX. Citigroup dropped their target price on Baxter International from $44.00 to $38.00 and set a neutral rating for the company in a research report on Wednesday, May 22nd. Bank of America boosted their target price on Baxter International from $42.00 to $45.00 and gave the company a neutral rating in a research report on Tuesday, March 5th. The Goldman Sachs Group started coverage on Baxter International in a research report on Thursday, May 30th. They set a neutral rating and a $36.00 target price for the company. Finally, TD Cowen lowered Baxter International from a buy rating to a hold rating and set a $40.00 target price for the company. in a research report on Friday, May 10th. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $44.46.

Baxter International Trading Up 0.9 %

Shares of BAX stock opened at $33.16 on Tuesday. Baxter International has a 12-month low of $31.01 and a 12-month high of $50.21. The company has a current ratio of 1.48, a quick ratio of 1.01 and a debt-to-equity ratio of 1.35. The stock’s 50-day moving average price is $34.87 and its 200-day moving average price is $38.58. The stock has a market capitalization of $16.90 billion, a price-to-earnings ratio of 6.38, a price-to-earnings-growth ratio of 1.71 and a beta of 0.57.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.65 EPS for the quarter, topping the consensus estimate of $0.61 by $0.04. The company had revenue of $3.59 billion during the quarter, compared to analyst estimates of $3.55 billion. Baxter International had a return on equity of 18.47% and a net margin of 17.79%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. Equities research analysts predict that Baxter International will post 2.91 EPS for the current fiscal year.

Baxter International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, May 31st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Friday, May 31st. Baxter International’s dividend payout ratio is presently 22.31%.

Hedge Funds Weigh In On Baxter International

A number of large investors have recently bought and sold shares of BAX. Ameriprise Financial Inc. raised its stake in Baxter International by 11.3% in the third quarter. Ameriprise Financial Inc. now owns 10,836,563 shares of the medical instruments supplier’s stock worth $408,992,000 after buying an additional 1,098,787 shares in the last quarter. Adalta Capital Management LLC raised its stake in Baxter International by 52.0% in the third quarter. Adalta Capital Management LLC now owns 24,460 shares of the medical instruments supplier’s stock worth $928,000 after buying an additional 8,370 shares in the last quarter. SkyView Investment Advisors LLC raised its stake in Baxter International by 21.1% in the third quarter. SkyView Investment Advisors LLC now owns 6,150 shares of the medical instruments supplier’s stock worth $232,000 after buying an additional 1,073 shares in the last quarter. Carmignac Gestion raised its stake in Baxter International by 467.0% in the third quarter. Carmignac Gestion now owns 4,848,773 shares of the medical instruments supplier’s stock worth $182,992,000 after buying an additional 3,993,537 shares in the last quarter. Finally, Headinvest LLC bought a new position in Baxter International in the third quarter worth approximately $25,000. Institutional investors own 90.19% of the company’s stock.

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.