Citigroup Cuts Baxter International (NYSE:BAX) Price Target to $27.00

Baxter International (NYSE:BAX) had its price objective decreased by Citigroup from $28.00 to $27.00 in a research note issued to investors on Monday morning,Benzinga reports. Citigroup currently has a neutral rating on the medical instruments supplier’s stock.

BAX has been the subject of a number of other reports. Zacks Research upgraded Baxter International from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. TD Cowen increased their price target on shares of Baxter International from $20.00 to $24.00 and gave the stock a “hold” rating in a research report on Monday, July 27th. Wells Fargo & Company increased their price target on shares of Baxter International from $19.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. UBS Group lifted their price objective on shares of Baxter International from $19.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, July 28th. Finally, Wall Street Zen raised shares of Baxter International from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $21.73.

Baxter International Stock Down 1.7%

Shares of BAX opened at $23.95 on Monday. The stock has a 50 day moving average price of $25.32 and a 200 day moving average price of $21.48. Baxter International has a one year low of $15.73 and a one year high of $30.00. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a market capitalization of $12.38 billion, a price-to-earnings ratio of -11.57, a PEG ratio of 3.68 and a beta of 0.65.

Baxter International (NYSE:BAX) last released its earnings results on Thursday, July 30th. The medical instruments supplier reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.19. The business had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.80 billion. Baxter International had a negative net margin of 9.27% and a positive return on equity of 16.57%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Baxter International has set its FY 2026 guidance at 1.950-2.150 EPS. Equities research analysts forecast that Baxter International will post 2.04 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, August 28th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.2%. Baxter International’s dividend payout ratio (DPR) is currently -1.93%.

Hedge Funds Weigh In On Baxter International

Institutional investors and hedge funds have recently made changes to their positions in the stock. CX Institutional lifted its stake in Baxter International by 2.3% in the third quarter. CX Institutional now owns 19,858 shares of the medical instruments supplier’s stock worth $477,000 after acquiring an additional 448 shares during the last quarter. Core Capital Management & Research inc. purchased a new stake in shares of Baxter International in the 2nd quarter valued at approximately $202,000. Tidal Investments LLC increased its position in shares of Baxter International by 22.8% in the 2nd quarter. Tidal Investments LLC now owns 164,400 shares of the medical instruments supplier’s stock valued at $3,505,000 after purchasing an additional 30,510 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in shares of Baxter International by 15.9% in the 2nd quarter. Cidel Asset Management Inc. now owns 12,143 shares of the medical instruments supplier’s stock valued at $259,000 after purchasing an additional 1,663 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Baxter International in the 2nd quarter valued at $161,000. 90.19% of the stock is owned by institutional investors and hedge funds.

About Baxter International

Baxter International Inc is a global healthcare company that develops and markets products used in hospitals, outpatient facilities and other care settings. Its portfolio includes intravenous solutions and administration sets, infusion pumps, parenteral nutrition products, injectable medicines, surgical products and systems for medication preparation and delivery.

The company also provides products and technologies that support anesthesia, critical care, patient monitoring and other hospital workflows.