Baxter International (NYSE:BAX) Sets New 52-Week Low - Here's Why

Baxter International Inc. (NYSE:BAX - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $32.01 and last traded at $32.25, with a volume of 399386 shares traded. The stock had previously closed at $32.63.

Analyst Ratings Changes

Several research analysts have commented on BAX shares. StockNews.com downgraded Baxter International from a "buy" rating to a "hold" rating in a research report on Monday. The Goldman Sachs Group upped their price objective on shares of Baxter International from $36.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday, August 8th. Citigroup boosted their price target on Baxter International from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Tuesday, October 1st. Stifel Nicolaus reduced their price objective on Baxter International from $46.00 to $38.00 and set a "buy" rating for the company in a research report on Monday. Finally, Wells Fargo & Company cut their target price on Baxter International from $44.00 to $40.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $40.91.

Baxter International Stock Down 0.9 %

The company has a market cap of $16.49 billion, a P/E ratio of 163.21, a PEG ratio of 11.44 and a beta of 0.60. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.40 and a quick ratio of 0.91. The business's 50 day moving average price is $37.13 and its 200-day moving average price is $35.94.

Baxter International (NYSE:BAX - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The medical instruments supplier reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.02. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.85 billion. Baxter International had a return on equity of 18.19% and a net margin of 0.77%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS. On average, analysts anticipate that Baxter International Inc. will post 2.33 earnings per share for the current fiscal year.

Baxter International Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, November 29th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, November 29th. Baxter International's dividend payout ratio is presently 580.03%.

Hedge Funds Weigh In On Baxter International

Several large investors have recently made changes to their positions in BAX. Wintrust Investments LLC lifted its position in Baxter International by 76.8% during the 1st quarter. Wintrust Investments LLC now owns 41,708 shares of the medical instruments supplier's stock valued at $1,783,000 after purchasing an additional 18,114 shares during the period. Poehling Capital Management INC. bought a new position in shares of Baxter International in the 1st quarter worth $719,000. Covestor Ltd grew its stake in shares of Baxter International by 42.1% during the first quarter. Covestor Ltd now owns 6,676 shares of the medical instruments supplier's stock worth $286,000 after purchasing an additional 1,978 shares during the period. Rockport Wealth LLC acquired a new position in Baxter International in the first quarter valued at about $297,000. Finally, Bessemer Group Inc. boosted its holdings in Baxter International by 17.3% during the first quarter. Bessemer Group Inc. now owns 5,159 shares of the medical instruments supplier's stock worth $221,000 after buying an additional 762 shares during the last quarter. Institutional investors and hedge funds 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.

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