Baxter International (NYSE:BAX) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Baxter International (NYSE:BAX) in a research note published on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $42.00 price target on the medical instruments supplier’s stock.

Other analysts have also issued reports about the company. Argus upgraded Baxter International from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Barclays started coverage on Baxter International in a research report on Thursday, February 20th. They set an “overweight” rating and a $39.00 target price for the company. Citigroup reduced their target price on Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Stifel Nicolaus reduced their target price on Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, StockNews.com cut Baxter International from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.00.

Baxter International Stock Performance

NYSE:BAX opened at $34.50 on Wednesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. Baxter International has a 52-week low of $28.33 and a 52-week high of $44.01. The firm has a market cap of $17.65 billion, a price-to-earnings ratio of -26.95, a PEG ratio of 0.93 and a beta of 0.61. The business’s fifty day moving average is $31.23 and its 200 day moving average is $34.07.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, February 20th. The medical instruments supplier reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.06. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.67 billion. Research analysts predict that Baxter International will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, February 28th. This represents a $0.68 annualized dividend and a dividend yield of 1.97%. Baxter International’s dividend payout ratio (DPR) is presently -53.13%.

Hedge Funds Weigh In On Baxter International

Several institutional investors have recently modified their holdings of the company. CKW Financial Group increased its position in shares of Baxter International by 19.3% during the 4th quarter. CKW Financial Group now owns 2,625 shares of the medical instruments supplier’s stock valued at $77,000 after purchasing an additional 425 shares during the last quarter. Farther Finance Advisors LLC grew its position in Baxter International by 23.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,519 shares of the medical instruments supplier’s stock worth $96,000 after acquiring an additional 475 shares during the last quarter. LRI Investments LLC grew its position 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. Whittier Trust Co. of Nevada Inc. grew its position in Baxter International by 5.8% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 13,618 shares of the medical instruments supplier’s stock worth $397,000 after acquiring an additional 752 shares during the last quarter. Finally, CoreFirst Bank & Trust bought a new position in Baxter International during the 4th quarter worth approximately $26,000. 90.19% of the stock is currently owned by institutional investors.

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.