Baxter International (NYSE:BAX) Reaches New 12-Month Low - Time to Sell?

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

Analysts Set New Price Targets

Several research firms have recently commented on BAX. Stifel Nicolaus dropped their target price 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. Citigroup decreased their price target on shares of Baxter International from $37.00 to $35.00 and set a "neutral" rating for the company in a research note on Wednesday, December 11th. Finally, StockNews.com cut Baxter International from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Baxter International currently has an average rating of "Hold" and an average price target of $40.45.

Baxter International Stock Performance

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 stock has a market cap of $15.02 billion, a P/E ratio of 147.10, a P/E/G ratio of 12.74 and a beta of 0.57. The business's 50-day moving average price is $34.33 and its 200-day moving average price is $35.39.

Baxter International (NYSE:BAX - Get Free Report) last posted its quarterly earnings data 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. Baxter International had a return on equity of 18.30% and a net margin of 0.77%. The firm had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.85 billion. During the same period in the previous year, the firm earned $0.68 EPS. The business's quarterly revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Baxter International Inc. will post 1.92 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Friday, November 29th. Baxter International's dividend payout ratio (DPR) is presently 340.00%.

Hedge Funds Weigh In On Baxter International

A number of hedge funds and other institutional investors have recently modified their holdings of BAX. LSV Asset Management purchased a new position in Baxter International during the 2nd quarter valued at approximately $140,296,000. Bank of New York Mellon Corp grew its holdings in shares of Baxter International by 73.2% in the second quarter. Bank of New York Mellon Corp now owns 6,772,533 shares of the medical instruments supplier's stock valued at $226,541,000 after purchasing an additional 2,862,626 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Baxter International in the second quarter worth $67,263,000. Coho Partners Ltd. purchased a new stake in Baxter International during the third quarter valued at $57,229,000. Finally, Shapiro Capital Management LLC lifted its position in Baxter International by 19.7% during the second quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier's stock valued at $109,885,000 after purchasing an additional 541,575 shares during 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.