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

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

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

Baxter International Stock Performance

BAX opened at $34.91 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 firm has a market capitalization of $17.79 billion, a PE ratio of 6.39, a P/E/G ratio of 1.73 and a beta of 0.57. The firm has a 50 day moving average of $34.73 and a two-hundred day moving average of $38.55.

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

Baxter International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, May 31st were paid a $0.29 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.16 dividend on an annualized basis and a yield of 3.32%. Baxter International’s dividend payout ratio is currently 22.31%.

Institutional Investors Weigh In On Baxter International

Large investors have recently modified their holdings of the business. Carmignac Gestion grew its holdings in shares of Baxter International by 9.5% during the fourth quarter. Carmignac Gestion now owns 5,311,012 shares of the medical instruments supplier’s stock worth $205,324,000 after buying an additional 462,239 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Baxter International by 20.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,400 shares of the medical instruments supplier’s stock worth $93,000 after buying an additional 406 shares in the last quarter. S&CO Inc. purchased a new stake in shares of Baxter International during the fourth quarter worth $1,308,000. SG Americas Securities LLC grew its holdings in shares of Baxter International by 191.4% during the fourth quarter. SG Americas Securities LLC now owns 69,606 shares of the medical instruments supplier’s stock worth $2,691,000 after buying an additional 45,718 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Baxter International by 76.6% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,439 shares of the medical instruments supplier’s stock worth $56,000 after buying an additional 624 shares in the last quarter. Hedge funds and other institutional investors own 90.19% of the company’s stock.

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.