Baxter International (NYSE:BAX) Given New $28.00 Price Target at Morgan Stanley

Baxter International (NYSE:BAX) had its price target cut by Morgan Stanley from $30.00 to $28.00 in a report released on Monday,Benzinga reports. They currently have an underweight rating on the medical instruments supplier’s stock.

BAX has been the subject of a number of other research reports. Barclays boosted their target price on Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. cut their target price on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company decreased their price objective on Baxter International from $36.00 to $33.00 and set an “equal weight” rating for the company in a report on Friday. Argus raised shares of Baxter International from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. Finally, The Goldman Sachs Group initiated coverage on Baxter International in a research report on Wednesday, February 26th. They issued a “buy” rating and a $42.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.56.

Baxter International Stock Performance

NYSE:BAX opened at $30.47 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. The business’s 50-day moving average price is $31.96 and its two-hundred day moving average price is $32.11. The stock has a market cap of $15.63 billion, a P/E ratio of -23.80, a PEG ratio of 0.93 and a beta of 0.64. Baxter International has a twelve month low of $26.25 and a twelve month high of $40.49.

Baxter International (NYSE:BAX) last released its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.59 billion. Baxter International had a positive return on equity of 16.67% and a negative net margin of 5.05%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $0.65 earnings per share. As a group, equities analysts predict that Baxter International will post 2.48 EPS for the current fiscal year.

Baxter International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, February 28th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.23%. The ex-dividend date was Friday, February 28th. Baxter International’s dividend payout ratio is presently -53.13%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BAX. Rossby Financial LCC bought a new position in shares of Baxter International in the first quarter worth approximately $29,000. CoreFirst Bank & Trust purchased a new position in Baxter International in the 4th quarter worth approximately $26,000. Riverview Trust Co boosted its stake in Baxter International by 5,488.2% in the 4th quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock worth $28,000 after purchasing an additional 933 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Baxter International by 48.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier’s stock valued at $69,000 after buying an additional 656 shares during the last quarter. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of Baxter International by 247.3% in the fourth quarter. Bruce G. Allen Investments LLC now owns 2,622 shares of the medical instruments supplier’s stock worth $76,000 after buying an additional 1,867 shares in the last quarter. Institutional investors own 90.19% of the company’s stock.

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.