Baxter International (NYSE:BAX) Hits New 12-Month Low – Here’s Why

Baxter International Inc. (NYSE:BAX)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $29.86 and last traded at $29.95, with a volume of 361343 shares trading hands. The stock had previously closed at $30.32.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Citigroup reduced their target price on shares of Baxter International from $37.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. StockNews.com cut Baxter International from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Stifel Nicolaus lowered their price target on shares of Baxter International from $46.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.45.

Baxter International Stock Performance

The stock’s fifty day simple moving average is $34.18 and its 200-day simple moving average is $35.36. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.09 and a current ratio of 1.43. The company has a market capitalization of $15.13 billion, a PE ratio of 148.20, a price-to-earnings-growth ratio of 12.74 and a beta of 0.57.

Baxter International (NYSE:BAX) last issued its earnings results on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.85 billion. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.68 earnings per share. As a group, equities analysts predict that Baxter International Inc. will post 1.92 earnings per share for the current year.

Baxter International Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, November 29th. Baxter International’s dividend payout ratio is currently 340.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Oregon Public Employees Retirement Fund increased its position in Baxter International by 0.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 43,751 shares of the medical instruments supplier’s stock valued at $1,463,000 after acquiring an additional 310 shares during the period. Archer Investment Corp boosted its stake in Baxter International by 20.8% in the 2nd quarter. Archer Investment Corp now owns 2,235 shares of the medical instruments supplier’s stock worth $75,000 after purchasing an additional 385 shares during the period. M&R Capital Management Inc. boosted its position in Baxter International by 9.5% during the 3rd quarter. M&R Capital Management Inc. now owns 4,480 shares of the medical instruments supplier’s stock worth $170,000 after acquiring an additional 390 shares during the period. GAMMA Investing LLC increased its stake in Baxter International by 6.5% in the 3rd quarter. GAMMA Investing LLC now owns 7,517 shares of the medical instruments supplier’s stock valued at $285,000 after buying an additional 459 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Baxter International by 23.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,519 shares of the medical instruments supplier’s stock worth $96,000 after purchasing an additional 475 shares during the last quarter. 90.19% of the stock is 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.