Baxter International (NYSE:BAX) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Baxter International (NYSE:BAX - Free Report) from a buy rating to a hold rating in a report released on Saturday.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Baxter International from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Morgan Stanley lowered their price target on Baxter International from $30.00 to $28.00 and set an "underweight" rating on the stock in a research report on Monday, May 5th. Argus upgraded Baxter International from a "hold" rating to a "buy" rating in a research report on Monday, February 24th. Barclays upped their price target on Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. Finally, The Goldman Sachs Group started coverage on Baxter International in a research report on Wednesday, February 26th. They issued a "buy" rating and a $42.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $37.25.

Baxter International Stock Performance

Shares of BAX stock traded down $0.76 during trading on Friday, reaching $30.60. The company had a trading volume of 2,890,177 shares, compared to its average volume of 4,410,600. 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's 50 day simple moving average is $30.21 and its two-hundred day simple moving average is $31.36. The company has a market capitalization of $15.70 billion, a PE ratio of -23.91, a PEG ratio of 0.93 and a beta of 0.61. Baxter International has a one year low of $26.25 and a one year high of $40.49.

Baxter International (NYSE:BAX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter last year, the firm earned $0.65 EPS. Baxter International's revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts forecast that Baxter International will post 2.48 earnings per share for the current year.

Baxter International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 30th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Friday, May 30th. Baxter International's dividend payout ratio (DPR) is presently -61.82%.

Hedge Funds Weigh In On Baxter International

Several large investors have recently made changes to their positions in the company. Anchor Investment Management LLC lifted its stake in shares of Baxter International by 3.4% during the first quarter. Anchor Investment Management LLC now owns 21,164 shares of the medical instruments supplier's stock valued at $724,000 after acquiring an additional 701 shares during the period. RNC Capital Management LLC lifted its stake in shares of Baxter International by 74.0% during the first quarter. RNC Capital Management LLC now owns 136,048 shares of the medical instruments supplier's stock valued at $4,657,000 after acquiring an additional 57,855 shares during the period. Sciencast Management LP bought a new stake in Baxter International in the first quarter valued at about $356,000. Amundi increased its holdings in Baxter International by 9.5% in the first quarter. Amundi now owns 1,444,705 shares of the medical instruments supplier's stock valued at $45,292,000 after purchasing an additional 125,431 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in Baxter International by 19.4% in the first quarter. Gamco Investors INC. ET AL now owns 188,673 shares of the medical instruments supplier's stock valued at $6,458,000 after purchasing an additional 30,700 shares during the last quarter. Institutional investors and hedge funds 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.