Baxter International Inc (NYSE:BAX) SVP Giuseppe Accogli sold 28,641 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total value of $1,918,947.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Baxter International Inc (NYSE:BAX) traded down $0.12 during trading on Friday, hitting $68.34. The stock had a trading volume of 2,344,711 shares, compared to its average volume of 2,480,520. Baxter International Inc has a twelve month low of $45.47 and a twelve month high of $69.65. The firm has a market cap of $37,299.19, a price-to-earnings ratio of 36.74, a PEG ratio of 2.06 and a beta of 0.69. The company has a current ratio of 2.80, a quick ratio of 2.22 and a debt-to-equity ratio of 0.37.
Baxter International (NYSE:BAX) last announced its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the company posted $0.56 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. research analysts expect that Baxter International Inc will post 2.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 1st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.94%. The ex-dividend date was Thursday, November 30th. Baxter International’s payout ratio is 34.41%.
A number of institutional investors and hedge funds have recently bought and sold shares of BAX. Parametric Portfolio Associates LLC lifted its stake in Baxter International by 71.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,632,846 shares of the medical instruments supplier’s stock worth $98,852,000 after acquiring an additional 678,429 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in Baxter International by 35.8% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,413,054 shares of the medical instruments supplier’s stock worth $88,669,000 after acquiring an additional 372,500 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Baxter International by 19.0% during the 2nd quarter. New York State Common Retirement Fund now owns 1,830,523 shares of the medical instruments supplier’s stock worth $110,820,000 after acquiring an additional 291,752 shares in the last quarter. Segall Bryant & Hamill LLC lifted its stake in Baxter International by 209.0% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 412,054 shares of the medical instruments supplier’s stock worth $25,856,000 after acquiring an additional 278,685 shares in the last quarter. Finally, Martingale Asset Management L P lifted its stake in Baxter International by 78.8% during the 2nd quarter. Martingale Asset Management L P now owns 631,892 shares of the medical instruments supplier’s stock worth $38,256,000 after acquiring an additional 278,538 shares in the last quarter. 83.78% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on BAX. Zacks Investment Research cut Baxter International from a “buy” rating to a “hold” rating in a report on Monday, October 16th. Cowen set a $68.00 target price on Baxter International and gave the company a “hold” rating in a report on Sunday, October 15th. Royal Bank of Canada restated a “hold” rating and issued a $60.00 target price on shares of Baxter International in a report on Tuesday, October 3rd. JPMorgan Chase & Co. raised Baxter International from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Raymond James Financial raised Baxter International from a “market perform” rating to an “outperform” rating and set a $73.00 price target on the stock in a research note on Wednesday, January 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Baxter International presently has a consensus rating of “Buy” and an average target price of $68.64.
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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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