Baxter International (NYSE:BAX) Sees Large Volume Increase

Baxter International Inc. (NYSE:BAXGet Rating) saw unusually-strong trading volume on Wednesday . Approximately 76,902 shares traded hands during mid-day trading, a decline of 98% from the previous session’s volume of 3,232,912 shares.The stock last traded at $76.24 and had previously closed at $73.90.

Several analysts have recently commented on BAX shares. Morgan Stanley dropped their price objective on shares of Baxter International from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Monday. UBS Group upped their price objective on shares of Baxter International from $88.00 to $91.00 and gave the company a “neutral” rating in a report on Friday, February 18th. The Goldman Sachs Group downgraded shares of Baxter International from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $88.00 to $77.00 in a report on Monday, April 4th. Zacks Investment Research raised shares of Baxter International from a “sell” rating to a “hold” rating and set a $77.00 price target on the stock in a report on Tuesday, May 10th. Finally, Citigroup lowered their price target on shares of Baxter International from $98.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Baxter International presently has a consensus rating of “Buy” and a consensus price target of $89.92.

The stock has a market cap of $37.85 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 1.59 and a beta of 0.62. The stock has a fifty day simple moving average of $75.44 and a 200-day simple moving average of $80.43. The company has a current ratio of 2.10, a quick ratio of 1.45 and a debt-to-equity ratio of 1.84.

Baxter International (NYSE:BAXGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The medical instruments supplier reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.13. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Baxter International had a return on equity of 21.59% and a net margin of 7.80%. Baxter International’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. Sell-side analysts forecast that Baxter International Inc. will post 4.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 3rd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This is an increase from Baxter International’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 1.54%. Baxter International’s dividend payout ratio (DPR) is currently 53.59%.

In related news, CAO Brian Stevens sold 2,500 shares of Baxter International stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $85.50, for a total value of $213,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Albert P. L. Stroucken sold 4,020 shares of the business’s stock in a transaction on Tuesday, April 5th. The shares were sold at an average price of $76.02, for a total transaction of $305,600.40. Following the sale, the director now directly owns 27,629 shares in the company, valued at approximately $2,100,356.58. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in shares of Baxter International by 6.6% in the fourth quarter. Geode Capital Management LLC now owns 8,719,597 shares of the medical instruments supplier’s stock worth $746,523,000 after purchasing an additional 540,182 shares during the period. UBS Asset Management Americas Inc. grew its position in Baxter International by 0.9% in the third quarter. UBS Asset Management Americas Inc. now owns 2,551,540 shares of the medical instruments supplier’s stock worth $205,220,000 after acquiring an additional 22,839 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Baxter International by 5.9% in the fourth quarter. Parametric Portfolio Associates LLC now owns 2,024,918 shares of the medical instruments supplier’s stock worth $173,819,000 after acquiring an additional 113,578 shares in the last quarter. Neuberger Berman Group LLC grew its position in Baxter International by 2,202.6% in the first quarter. Neuberger Berman Group LLC now owns 1,650,719 shares of the medical instruments supplier’s stock worth $128,029,000 after acquiring an additional 1,579,029 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Baxter International by 3.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,496,291 shares of the medical instruments supplier’s stock worth $116,022,000 after acquiring an additional 44,164 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Baxter International Company Profile (NYSE:BAX)

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

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