Baxter International (NYSE:BAX) Price Target Increased to $44.00 by Analysts at Citigroup

Baxter International (NYSE:BAX - Free Report) had its target price boosted by Citigroup from $41.00 to $44.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the medical instruments supplier's stock.

Several other equities research analysts have also recently issued reports on BAX. JPMorgan Chase & Co. boosted their price objective on shares of Baxter International from $38.00 to $44.00 and gave the company a neutral rating in a research report on Friday, February 9th. Barclays upped their price target on shares of Baxter International from $52.00 to $54.00 and gave the stock an overweight rating in a research report on Monday, February 12th. StockNews.com raised shares of Baxter International from a hold rating to a buy rating in a research report on Friday, January 19th. Bank of America boosted their price objective on shares of Baxter International from $42.00 to $45.00 and gave the stock a neutral rating in a research note on Tuesday, March 5th. Finally, UBS Group reduced their price objective on shares of Baxter International from $40.00 to $36.00 and set a neutral rating for the company in a research note on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Baxter International presently has an average rating of Hold and a consensus target price of $46.45.

Baxter International Price Performance

Shares of NYSE BAX traded up $0.38 during midday trading on Wednesday, reaching $43.29. 2,544,656 shares of the stock traded hands, compared to its average volume of 3,814,821. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.48 and a quick ratio of 1.04. The stock has a market capitalization of $21.98 billion, a PE ratio of 8.30, a P/E/G ratio of 2.34 and a beta of 0.62. Baxter International has a one year low of $31.01 and a one year high of $50.21. The company's 50 day moving average is $41.23 and its 200 day moving average is $38.11.

Baxter International (NYSE:BAX - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.02. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The business had revenue of $3.89 billion for the quarter, compared to analysts' expectations of $3.81 billion. During the same quarter in the previous year, the business posted $0.88 earnings per share. The business's revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts anticipate that Baxter International will post 2.89 earnings per share for the current year.

Baxter International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date was Thursday, February 29th. Baxter International's dividend payout ratio (DPR) is presently 22.22%.

Hedge Funds Weigh In On Baxter International

A number of large investors have recently bought and sold shares of the business. Dodge & Cox increased its holdings in shares of Baxter International by 178.0% in the fourth quarter. Dodge & Cox now owns 27,381,465 shares of the medical instruments supplier's stock valued at $1,058,567,000 after purchasing an additional 17,533,024 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Baxter International by 11.3% in the third quarter. Ameriprise Financial Inc. now owns 10,836,563 shares of the medical instruments supplier's stock valued at $408,992,000 after purchasing an additional 1,098,787 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Baxter International by 1.9% in the first quarter. Geode Capital Management LLC now owns 8,971,166 shares of the medical instruments supplier's stock valued at $362,919,000 after purchasing an additional 170,213 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Baxter International by 69.0% in the third quarter. Bank of New York Mellon Corp now owns 6,491,343 shares of the medical instruments supplier's stock valued at $244,983,000 after purchasing an additional 2,650,959 shares in the last quarter. Finally, Pzena Investment Management LLC purchased a new stake in Baxter International in the third quarter valued at approximately $215,935,000. Institutional investors and hedge funds own 90.19% of the company's stock.

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.