Baxter International Inc. (BAX) Director John D. Forsyth Sells 9,440 Shares
Baxter International Inc. (NYSE:BAX) Director John D. Forsyth sold 9,440 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $61.76, for a total value of $583,014.40. Following the transaction, the director now directly owns 32,444 shares in the company, valued at $2,003,741.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Baxter International Inc. (NYSE BAX) opened at 61.41 on Wednesday. The stock’s 50 day moving average price is $61.03 and its 200 day moving average price is $56.34. Baxter International Inc. has a 12 month low of $43.13 and a 12 month high of $63.14. The stock has a market capitalization of $33.46 billion, a price-to-earnings ratio of 37.26 and a beta of 0.66.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.06. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.46 EPS. Analysts expect that Baxter International Inc. will post $2.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be given a $0.16 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.04%. Baxter International’s payout ratio is 38.79%.
Several hedge funds have recently bought and sold shares of the company. Baker Ellis Asset Management LLC purchased a new stake in shares of Baxter International during the second quarter worth approximately $109,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Baxter International by 6.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,533 shares of the medical instruments supplier’s stock worth $131,000 after buying an additional 145 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Baxter International by 3.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,776 shares of the medical instruments supplier’s stock worth $144,000 after buying an additional 103 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Baxter International by 71.3% in the second quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock worth $145,000 after buying an additional 1,000 shares in the last quarter. Finally, Trust Co. of Vermont boosted its stake in shares of Baxter International by 8.7% in the first quarter. Trust Co. of Vermont now owns 3,282 shares of the medical instruments supplier’s stock worth $170,000 after buying an additional 262 shares in the last quarter. 83.69% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on BAX. Cantor Fitzgerald set a $70.00 target price on Baxter International and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Cowen and Company reaffirmed a “market perform” rating and set a $68.00 target price (up from $66.00) on shares of Baxter International in a research report on Thursday, July 27th. Citigroup Inc. began coverage on Baxter International in a research report on Thursday, August 17th. They set a “neutral” rating and a $63.00 target price on the stock. Leerink Swann reaffirmed an “outperform” rating and set a $75.00 target price (up from $67.00) on shares of Baxter International in a research report on Thursday, July 27th. Finally, Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $65.15.
About Baxter International
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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