Baxter International (NYSE:BAX) Shares Down 5% – Here’s What Happened

Shares of Baxter International Inc. (NYSE:BAX) traded down 5% on Tuesday. The company traded as low as $23.97 and last traded at $23.7430. Approximately 1,543,070 shares were traded during trading, a decline of 80% from the average session volume of 7,770,873 shares. The stock had previously closed at $24.99.

Analyst Ratings Changes

A number of brokerages recently issued reports on BAX. Stifel Nicolaus boosted their price objective on Baxter International from $19.00 to $24.00 and gave the company a “hold” rating in a research note on Tuesday, July 28th. Citigroup decreased their target price on shares of Baxter International from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, October 5th. UBS Group lifted their price target 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. Wells Fargo & Company lifted their price target on shares of Baxter International from $19.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, July 31st. Finally, The Goldman Sachs Group upped their price target on shares of Baxter International from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Baxter International presently has an average rating of “Reduce” and an average target price of $21.73.

Baxter International Trading Up 1.0%

The stock has a fifty day moving average of $24.81 and a 200 day moving average of $22.06. 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 company has a market capitalization of $12.79 billion, a PE ratio of -11.95, a PEG ratio of 3.71 and a beta of 0.65.

Baxter International (NYSE:BAX) last announced its quarterly earnings data on Thursday, July 30th. The medical instruments supplier reported $0.56 earnings per share (EPS) for the quarter, beating 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 was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. Baxter International has set its FY 2026 guidance at 1.950-2.150 EPS. As a group, sell-side analysts predict that Baxter International Inc. will post 2.04 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Friday, August 28th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, August 28th. Baxter International’s dividend payout ratio is -1.93%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BAX. Pzena Investment Management LLC bought a new position in Baxter International during the second quarter valued at $1,392,098,000. Tocqueville Asset Management L.P. bought a new stake in shares of Baxter International in the 2nd quarter worth about $30,604,000. BlackRock Inc. bought a new stake in shares of Baxter International in the 2nd quarter worth about $1,744,874,000. AMG National Trust Bank bought a new stake in shares of Baxter International in the 2nd quarter worth about $2,522,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Baxter International during the 2nd quarter valued at about $51,958,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.

Baxter International Company Profile

Baxter International Inc is a global medical products and healthcare technology company headquartered in Deerfield, Illinois. The company develops, manufactures and distributes products used in hospitals, clinics, ambulatory care centers and other healthcare settings.

Baxter’s portfolio has included intravenous therapies and administration systems, infusion pumps, connected-care technologies, surgical products, patient monitoring equipment and products used in medication preparation and delivery.