Baxter International Inc (NYSE:BAX) declared a quarterly dividend on Tuesday, February 20th, Zacks reports. Shareholders of record on Friday, March 2nd will be given a dividend of 0.16 per share by the medical instruments supplier on Monday, April 2nd. This represents a $0.64 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, March 1st.
Baxter International has decreased its dividend payment by an average of 34.0% annually over the last three years. Baxter International has a payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Baxter International to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 20.7%.
Baxter International (NYSE BAX) opened at $67.15 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.80 and a quick ratio of 2.22. Baxter International has a 52-week low of $49.80 and a 52-week high of $72.58. The company has a market capitalization of $36,138.70, a PE ratio of 51.97, a price-to-earnings-growth ratio of 1.91 and a beta of 0.78.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, February 1st. The medical instruments supplier reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. Baxter International had a return on equity of 15.12% and a net margin of 6.79%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period last year, the company posted $0.57 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. equities research analysts anticipate that Baxter International will post 2.78 EPS for the current fiscal year.
In related news, SVP Giuseppe Accogli sold 28,641 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total value of $1,918,947.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jeanne K. Mason sold 33,350 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $65.25, for a total value of $2,176,087.50. Following the completion of the sale, the senior vice president now directly owns 124,609 shares of the company’s stock, valued at $8,130,737.25. The disclosure for this sale can be found here. 0.05% of the stock is owned by insiders.
A number of brokerages have recently issued reports on BAX. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Morgan Stanley lifted their target price on Baxter International from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 26th. Bank of America raised Baxter International from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $72.00 target price on shares of Baxter International in a research report on Friday, February 2nd. Finally, Evercore ISI began coverage on Baxter International in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $71.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $71.00.
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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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