Investors Buy Shares of Baxter International Inc. (BAX) on Weakness
Investors purchased shares of Baxter International Inc. (NYSE:BAX) on weakness during trading hours on Friday. $115.55 million flowed into the stock on the tick-up and $43.69 million flowed out of the stock on the tick-down, for a money net flow of $71.86 million into the stock. Of all equities tracked, Baxter International had the 15th highest net in-flow for the day. Baxter International traded down ($1.11) for the day and closed at $63.88
A number of equities analysts recently commented on BAX shares. Royal Bank Of Canada reiterated a “hold” rating and issued a $60.00 target price on shares of Baxter International in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Tuesday, October 10th. Morgan Stanley lifted their target price on shares of Baxter International from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. UBS AG lifted their target price on shares of Baxter International from $57.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, July 28th. Finally, Barclays PLC lifted their target price on shares of Baxter International from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $67.00.
The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37. The stock has a market cap of $35,530.00, a PE ratio of 26.64, a PEG ratio of 2.16 and a beta of 0.68.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.05. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the company earned $0.56 earnings per share. Baxter International’s quarterly revenue was up 5.8% on a year-over-year basis. research analysts forecast that Baxter International Inc. will post 2.43 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, November 30th. Baxter International’s dividend payout ratio is currently 34.59%.
In related news, Director John D. Forsyth sold 9,440 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $61.76, for a total transaction of $583,014.40. Following the sale, the director now owns 32,444 shares of the company’s stock, valued at $2,003,741.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carole J. Shapazian sold 4,020 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.61, for a total transaction of $247,672.20. Following the sale, the director now directly owns 13,868 shares in the company, valued at approximately $854,407.48. The disclosure for this sale can be found here. Insiders have sold 5,022,380 shares of company stock worth $322,536,224 in the last quarter. 0.05% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. Baker Ellis Asset Management LLC bought a new position in shares of Baxter International in the second quarter worth approximately $109,000. Grove Bank & Trust lifted its stake in shares of Baxter International by 526.0% in the third quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock worth $143,000 after buying an additional 1,920 shares in the last quarter. Acrospire Investment Management LLC lifted 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. Harvest Fund Management Co. Ltd lifted its stake in shares of Baxter International by 8.4% in the second quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock worth $177,000 after buying an additional 226 shares in the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Baxter International in the second quarter worth approximately $188,000. 82.85% of the stock is currently owned by institutional investors and hedge funds.
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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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