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

Wall Street Zen downgraded shares of Baxter International (NYSE:BAX) from a buy rating to a hold rating in a report published on Saturday.

A number of other research analysts have also recently commented on BAX. Weiss Ratings restated a “sell (d)” rating on shares of Baxter International in a research note on Wednesday, January 21st. The Goldman Sachs Group upped their target price on shares of Baxter International from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, January 9th. Wells Fargo & Company lowered their price target on Baxter International from $21.00 to $19.00 and set an “equal weight” rating on the stock in a report on Friday, December 12th. Stifel Nicolaus lowered their price objective on shares of Baxter International from $25.00 to $22.00 in a research report on Friday, October 31st. Finally, Citigroup dropped their target price on Baxter International from $26.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Baxter International presently has an average rating of “Reduce” and an average target price of $21.40.

Baxter International Price Performance

Shares of BAX stock opened at $21.74 on Friday. The business’s 50 day moving average price is $19.58 and its 200-day moving average price is $21.48. Baxter International has a fifty-two week low of $17.40 and a fifty-two week high of $37.74. The firm has a market cap of $11.18 billion, a P/E ratio of -32.94, a P/E/G ratio of 1.26 and a beta of 0.59. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.18 and a current ratio of 1.84.

Baxter International Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Friday, November 28th were given a dividend of $0.01 per share. The ex-dividend date was Friday, November 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. Baxter International’s dividend payout ratio is currently -6.06%.

Hedge Funds Weigh In On Baxter International

Institutional investors have recently added to or reduced their stakes in the company. Cooke & Bieler LP raised its holdings in Baxter International by 25.7% during the 3rd quarter. Cooke & Bieler LP now owns 2,200,860 shares of the medical instruments supplier’s stock valued at $50,114,000 after buying an additional 450,350 shares during the period. Greenhaven Associates Inc. purchased a new position in Baxter International in the 3rd quarter worth about $143,186,000. Cullen Capital Management LLC raised its stake in shares of Baxter International by 10.4% during the second quarter. Cullen Capital Management LLC now owns 1,651,542 shares of the medical instruments supplier’s stock valued at $50,009,000 after acquiring an additional 155,415 shares in the last quarter. Stoneridge Investment Partners LLC bought a new stake in Baxter International during the 3rd quarter valued at $2,128,000. Finally, Gabelli Funds LLC raised its holdings in shares of Baxter International by 20.6% in the second quarter. Gabelli Funds LLC now owns 574,700 shares of the medical instruments supplier’s stock valued at $17,402,000 after acquiring an additional 98,000 shares in the last quarter. Hedge funds and other 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.