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

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on BAX. The Goldman Sachs Group upped their price target on Baxter International from $36.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, August 8th. Wells Fargo & Company reduced their price objective on shares of Baxter International from $44.00 to $40.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 7th. StockNews.com cut Baxter International from a "buy" rating to a "hold" rating in a research note on Monday. Stifel Nicolaus dropped their target price on Baxter International from $46.00 to $38.00 and set a "buy" rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Baxter International from $44.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Baxter International has a consensus rating of "Hold" and a consensus target price of $40.91.

Baxter International Trading Down 2.8 %

The company's 50-day moving average is $37.13 and its 200-day moving average is $35.94. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 161.66, a P/E/G ratio of 11.44 and a beta of 0.60. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.40.

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

Baxter International Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, November 29th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.68 annualized dividend and a yield of 2.14%. Baxter International's payout ratio is presently 580.03%.

Hedge Funds Weigh In On Baxter International

Large investors have recently modified their holdings of the stock. LSV Asset Management acquired a new stake in Baxter International during the second quarter worth approximately $140,296,000. Bank of New York Mellon Corp grew its position in 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 acquiring an additional 2,862,626 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new position in Baxter International during the 2nd quarter worth approximately $67,263,000. Coho Partners Ltd. bought a new position in shares of Baxter International in the 3rd quarter valued at $57,229,000. Finally, Shapiro Capital Management LLC boosted its holdings in shares of Baxter International by 19.7% during the 2nd quarter. Shapiro Capital Management LLC now owns 3,285,048 shares of the medical instruments supplier's stock valued at $109,885,000 after acquiring an additional 541,575 shares in the last quarter. 90.19% of the stock is owned by institutional investors.

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.