Baxter International (NYSE:BAX) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Baxter International shares climbed above their 200-day moving average, trading near $27.84 versus the $19.93 average, with more than 8.3 million shares changing hands.
• The company exceeded quarterly expectations, reporting adjusted EPS of $0.56 versus the $0.37 consensus and revenue of $2.96 billion versus $2.80 billion. Revenue increased 5.3% year over year.
• Despite several analysts raising price targets, the stock carries a consensus “Reduce” rating with an average target of $22.45; institutional investors own approximately 90.2% of outstanding shares.

Baxter International Inc. (NYSE:BAX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.93 and traded as high as $27.97. Baxter International shares last traded at $27.84, with a volume of 8,306,778 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on BAX shares. Wells Fargo & Company upped their price target on shares of Baxter International from $19.00 to $23.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Zacks Research lowered Baxter International from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Barclays boosted their target price on Baxter International from $25.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, May 1st. TD Cowen upped their target price on Baxter International from $20.00 to $24.00 and gave the stock a "hold" rating in a research note on Monday, July 27th. Finally, Stifel Nicolaus upped their target price on Baxter International from $19.00 to $24.00 and gave the stock a "hold" rating in a research note on Tuesday, July 28th. Two equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Baxter International currently has a consensus rating of "Reduce" and an average price target of $22.45.

Baxter International Trading Up 1.1%

The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $14.39 billion, a P/E ratio of -13.45, a price-to-earnings-growth ratio of 4.18 and a beta of 0.59. The firm's 50-day simple moving average is $22.37 and its 200-day simple moving average is $19.93.

Baxter International (NYSE:BAX - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The medical instruments supplier reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.19. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.80 billion. Baxter International had a negative net margin of 9.27% and a positive return on equity of 16.57%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 EPS. Baxter International has set its FY 2026 guidance at 1.950-2.150 EPS. Analysts anticipate that Baxter International Inc. will post 2.04 EPS for the current year.

Baxter International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, August 28th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Friday, August 28th. Baxter International's dividend payout ratio is currently -1.93%.

Institutional Investors Weigh In On Baxter International

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Baxter International during the 2nd quarter valued at about $1,744,874,000. Pzena Investment Management LLC purchased a new position in shares of Baxter International during the 2nd quarter valued at about $1,392,098,000. Geode Capital Management LLC lifted its position in Baxter International by 7.8% in the 4th quarter. Geode Capital Management LLC now owns 13,510,205 shares of the medical instruments supplier's stock worth $257,174,000 after buying an additional 972,891 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Baxter International by 1.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,638,629 shares of the medical instruments supplier's stock worth $231,304,000 after buying an additional 97,687 shares during the last quarter. Finally, Equity Investment Corp purchased a new stake in Baxter International in the second quarter worth approximately $146,815,000. Institutional investors own 90.19% of the company's stock.

Baxter International Company Profile

Baxter International Inc is a global healthcare company that develops, manufactures and markets a broad portfolio of medical products, pharmaceutical therapies and biotechnology-based solutions. The company's primary business activities are organized around renal care, medication delivery, acute therapies, pharmacy automation, surgical care and biotechnology. Baxter's offerings are designed to support patient care in hospitals, dialysis centers, nursing homes and other healthcare facilities worldwide.

In the renal care segment, Baxter provides hemodialysis and peritoneal dialysis systems, water treatment equipment and related disposables, including dialyzers, bloodlines and catheters.

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