Baxter International (NYSE:BAX) Reaches New 52-Week Low – What’s Next?

Baxter International Inc. (NYSE:BAX) shares hit a new 52-week low on Tuesday . The stock traded as low as $31.28 and last traded at $31.47, with a volume of 385160 shares traded. The stock had previously closed at $31.85.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Stifel Nicolaus lowered their price target on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, Citigroup boosted their price objective on shares of Baxter International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $40.91.

Baxter International Stock Performance

The company has a market cap of $16.12 billion, a price-to-earnings ratio of 159.26, a PEG ratio of 13.06 and a beta of 0.58. The firm’s 50 day simple moving average is $34.87 and its 200-day simple moving average is $35.50. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43.

Baxter International (NYSE:BAX) last issued its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period last year, the company earned $0.68 EPS. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that Baxter International Inc. will post 1.92 EPS for the current year.

Baxter International Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, November 29th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Friday, November 29th. Baxter International’s dividend payout ratio is presently 340.02%.

Institutional Trading of Baxter International

Several institutional investors have recently modified their holdings of BAX. First PREMIER Bank purchased a new position in Baxter International during the 3rd quarter worth approximately $25,000. Innealta Capital LLC purchased a new position in shares of Baxter International during the second quarter worth approximately $27,000. Fortitude Family Office LLC acquired a new position in shares of Baxter International in the 3rd quarter valued at $38,000. LRI Investments LLC raised its position in Baxter International by 60.8% in the 3rd quarter. LRI Investments LLC now owns 1,560 shares of the medical instruments supplier’s stock valued at $59,000 after purchasing an additional 590 shares during the last quarter. Finally, Cromwell Holdings LLC purchased a new stake in Baxter International in the 3rd quarter valued at $62,000. 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.