Investors Sell Baxter International (BAX) on Strength (BAX)

Traders sold shares of Baxter International Inc (NYSE:BAX) on strength during trading hours on Thursday. $38.36 million flowed into the stock on the tick-up and $83.94 million flowed out of the stock on the tick-down, for a money net flow of $45.58 million out of the stock. Of all companies tracked, Baxter International had the 13th highest net out-flow for the day. Baxter International traded up $0.38 for the day and closed at $67.43

BAX has been the subject of several research reports. Bank of America upgraded Baxter International from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Deutsche Bank upgraded Baxter International from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Tuesday. Morgan Stanley boosted their price objective on Baxter International from $59.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Finally, Royal Bank of Canada restated a “hold” rating and set a $66.00 price objective on shares of Baxter International in a research report on Wednesday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $71.00.

The company has a quick ratio of 2.22, a current ratio of 2.80 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $36,525.53, a PE ratio of 52.27, a PEG ratio of 1.93 and a beta of 0.78.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, February 1st. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. equities research analysts predict that Baxter International Inc will post 2.78 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Friday, March 2nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, March 1st. This represents a $0.64 dividend on an annualized basis and a yield of 0.95%. Baxter International’s dividend payout ratio (DPR) is presently 49.61%.

Baxter International declared that its Board of Directors has initiated a share buyback program on Tuesday, February 20th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the medical instruments supplier to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

In other Baxter International news, SVP Giuseppe Accogli sold 28,641 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $67.00, for a total transaction of $1,918,947.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeanne K. Mason sold 33,350 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $65.25, for a total value of $2,176,087.50. Following the transaction, the senior vice president now owns 124,609 shares of the company’s stock, valued at approximately $8,130,737.25. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Robecosam AG acquired a new position in Baxter International during the 4th quarter worth $103,000. Family Capital Trust Co bought a new stake in shares of Baxter International in the 4th quarter worth $103,000. Community Bank N.A. raised its stake in shares of Baxter International by 152.7% in the 4th quarter. Community Bank N.A. now owns 1,655 shares of the medical instruments supplier’s stock worth $107,000 after buying an additional 1,000 shares in the last quarter. Trustcore Financial Services LLC bought a new stake in shares of Baxter International in the 4th quarter worth $131,000. Finally, Grove Bank & Trust raised its stake in shares of Baxter International by 526.0% in the 3rd 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. Institutional investors own 84.96% of the company’s stock.

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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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