Baxter International (NYSE:BAX) Rating Lowered to Hold at TD Cowen

TD Cowen downgraded shares of Baxter International (NYSE:BAX - Free Report) from a buy rating to a hold rating in a research report sent to investors on Friday, MarketBeat Ratings reports. TD Cowen currently has $40.00 price objective on the medical instruments supplier's stock.

BAX has been the subject of a number of other research reports. Barclays lifted their target price on shares of Baxter International from $52.00 to $54.00 and gave the company an overweight rating in a research note on Monday, February 12th. Citigroup increased their price target on shares of Baxter International from $41.00 to $44.00 and gave the company a neutral rating in a research note on Wednesday, April 3rd. UBS Group dropped 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 report on Tuesday, February 6th. Bank of America increased their price objective on Baxter International from $42.00 to $45.00 and gave the company a neutral rating in a research report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. boosted their target price on Baxter International from $38.00 to $44.00 and gave the stock a neutral rating in a research report on Friday, February 9th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $45.73.

Baxter International Stock Performance

Shares of NYSE BAX traded down $0.26 during trading hours on Friday, reaching $35.69. The stock had a trading volume of 3,962,521 shares, compared to its average volume of 3,806,833. Baxter International has a twelve month low of $31.01 and a twelve month high of $50.21. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.48 and a quick ratio of 1.01. The business's fifty day moving average is $41.09 and its two-hundred day moving average is $38.85. The company has a market cap of $18.19 billion, a price-to-earnings ratio of 6.86, a PEG ratio of 1.97 and a beta of 0.64.

Baxter International (NYSE:BAX - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The medical instruments supplier reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.04. The company had revenue of $3.59 billion during the quarter, compared to the consensus estimate of $3.55 billion. Baxter International had a net margin of 17.79% and a return on equity of 18.47%. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.59 EPS. As a group, research analysts expect that Baxter International will post 2.9 EPS for the current year.

Baxter International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, May 31st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, May 31st. Baxter International's dividend payout ratio (DPR) is presently 22.31%.

Institutional Investors Weigh In On Baxter International

Several hedge funds have recently bought and sold shares of the company. Headinvest LLC acquired a new position in shares of Baxter International in the third quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new position in Baxter International in the 4th quarter valued at about $36,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Baxter International during the fourth quarter worth approximately $37,000. Hexagon Capital Partners LLC boosted its holdings in shares of Baxter International by 205.4% during the fourth quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier's stock worth $37,000 after acquiring an additional 641 shares during the period. Finally, CKW Financial Group acquired a new position in shares of Baxter International in the fourth quarter valued at approximately $43,000. 90.19% of the stock is currently owned by institutional investors and hedge funds.

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.