Baxter International (NYSE:BAX) Stock Price Down 7.5%

Baxter International Inc. (NYSE:BAX)’s stock price fell 7.5% during mid-day trading on Thursday . The stock traded as low as $37.15 and last traded at $37.30. 1,538,385 shares changed hands during trading, a decline of 57% from the average session volume of 3,578,261 shares. The stock had previously closed at $40.34.

Analyst Ratings Changes

A number of research firms have commented on BAX. UBS Group reduced their price target on Baxter International from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Citigroup boosted their price target on shares of Baxter International from $41.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 3rd. Bank of America increased their price objective on shares of Baxter International from $42.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. Finally, Barclays boosted their target price on shares of Baxter International from $52.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Baxter International presently has a consensus rating of “Hold” and a consensus price target of $46.30.

Baxter International Stock Performance

The company has a market capitalization of $18.53 billion, a price-to-earnings ratio of 7.16, a P/E/G ratio of 2.17 and a beta of 0.64. The company has a 50 day moving average price of $41.74 and a 200 day moving average price of $38.72. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.04 and a current ratio of 1.48.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The firm had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.81 billion. Baxter International had a return on equity of 19.49% and a net margin of 17.77%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. Equities research analysts predict that Baxter International Inc. will post 2.89 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Thursday, February 29th. Baxter International’s payout ratio is 22.22%.

Hedge Funds Weigh In On Baxter International

A number of hedge funds and other institutional investors have recently modified their holdings of BAX. Headinvest LLC purchased a new stake in shares of Baxter International during the third quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Baxter International during the 4th quarter valued at $36,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Baxter International during the 4th quarter worth $37,000. Hexagon Capital Partners LLC boosted its holdings in shares of Baxter International by 205.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 953 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 641 shares during the last quarter. Finally, CKW Financial Group purchased a new position in shares of Baxter International in the 4th quarter worth about $43,000. Hedge funds and other institutional investors 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.