Baxter International (NYSE:BAX) Downgraded by Wall Street Zen to "Hold"

Wall Street Zen lowered shares of Baxter International (NYSE:BAX - Free Report) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

BAX has been the subject of a number of other research reports. Morgan Stanley lowered their price objective on shares of Baxter International from $30.00 to $28.00 and set an "underweight" rating for the company in a research report on Monday, May 5th. The Goldman Sachs Group started coverage on Baxter International in a report on Wednesday, February 26th. They set a "buy" rating and a $42.00 target price for the company. Argus upgraded Baxter International from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Wells Fargo & Company lowered their price objective on Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. lowered their price objective on Baxter International from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. 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.com, the company currently has an average rating of "Hold" and an average target price of $37.25.

Baxter International Stock Down 2.9%

Shares of NYSE:BAX traded down $0.90 during mid-day trading on Friday, hitting $29.92. 3,364,929 shares of the company traded hands, compared to its average volume of 4,404,611. The firm has a market cap of $15.35 billion, a P/E ratio of -27.20, a PEG ratio of 0.91 and a beta of 0.61. The firm's 50 day simple moving average is $30.25 and its 200 day simple moving average is $31.30. Baxter International has a 52-week low of $26.25 and a 52-week high of $40.49. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.40 and a current ratio of 2.02.

Baxter International (NYSE:BAX - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.14. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a negative net margin of 4.71% and a positive return on equity of 17.24%. The company's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 EPS. On average, equities analysts anticipate that Baxter International will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, May 30th will be given a $0.17 dividend. The ex-dividend date is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.27%. Baxter International's dividend payout ratio is presently -61.82%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in Baxter International by 10.2% during the 4th quarter. Van ECK Associates Corp now owns 68,198 shares of the medical instruments supplier's stock valued at $1,989,000 after purchasing an additional 6,320 shares in the last quarter. Rhumbline Advisers boosted its stake in Baxter International by 1.2% during the 4th quarter. Rhumbline Advisers now owns 1,113,125 shares of the medical instruments supplier's stock valued at $32,459,000 after purchasing an additional 13,424 shares in the last quarter. Nicholas Hoffman & Company LLC. bought a new position in Baxter International during the fourth quarter valued at about $907,000. New York State Common Retirement Fund boosted its stake in Baxter International by 7.9% during the fourth quarter. New York State Common Retirement Fund now owns 476,248 shares of the medical instruments supplier's stock valued at $13,887,000 after buying an additional 34,748 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Baxter International by 33.8% during the fourth quarter. Handelsbanken Fonder AB now owns 291,102 shares of the medical instruments supplier's stock valued at $8,489,000 after buying an additional 73,473 shares in the last quarter. 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.