Baxter International (NYSE:BAX) Price Target Lowered to $35.00 at Citigroup

Baxter International (NYSE:BAX) had its target price decreased by Citigroup from $37.00 to $35.00 in a report issued on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the medical instruments supplier’s stock.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Stifel Nicolaus decreased their price objective on Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Baxter International presently has an average rating of “Hold” and a consensus target price of $40.45.

Baxter International Price Performance

Baxter International stock opened at $30.32 on Wednesday. Baxter International has a 52 week low of $30.06 and a 52 week high of $44.01. The firm has a market cap of $15.48 billion, a P/E ratio of 154.21, a P/E/G ratio of 12.74 and a beta of 0.57. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. The business’s fifty day moving average is $34.58 and its two-hundred day moving average is $35.42.

Baxter International (NYSE:BAX) last issued its quarterly earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.85 billion. Baxter International had a net margin of 0.77% and a return on equity of 18.30%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. Equities research analysts forecast that Baxter International will post 1.92 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 dividend yield of 2.24%. The ex-dividend date of this dividend is Friday, November 29th. Baxter International’s dividend payout ratio (DPR) is currently 340.02%.

Institutional Investors Weigh In On Baxter International

Institutional investors have recently made changes to their positions in the stock. First PREMIER Bank acquired a new position in Baxter International in the third quarter valued at about $25,000. Innealta Capital LLC bought a new stake in shares of Baxter International in the 2nd quarter valued at about $27,000. Fortitude Family Office LLC acquired a new stake in shares of Baxter International in the 3rd quarter valued at approximately $38,000. LRI Investments LLC boosted its stake in Baxter International by 60.8% during the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock worth $59,000 after acquiring an additional 590 shares during the last quarter. Finally, Cromwell Holdings LLC acquired a new position in Baxter International during the third quarter valued at approximately $62,000. 90.19% of the stock is owned by institutional investors and hedge funds.

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.