Baxter International (BAX) Reaches New 12-Month High at $69.38
Baxter International Inc (NYSE:BAX)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $69.38 and last traded at $69.28, with a volume of 2634900 shares traded. The stock had previously closed at $69.18.
BAX has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Morgan Stanley raised their price target 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. Bank of America raised shares of Baxter International from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 2nd. Evercore ISI initiated coverage on shares of Baxter International in a research report on Wednesday, January 3rd. They set an “outperform” rating and a $71.00 price target for the company. Finally, Barclays raised their price target on shares of Baxter International from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Seven 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 stock. The company currently has an average rating of “Buy” and an average target price of $68.64.
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 company has a market cap of $37,280.00, a price-to-earnings ratio of 36.99, a price-to-earnings-growth ratio of 2.08 and a beta of 0.69.
Baxter International (NYSE:BAX) last posted its earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. Baxter International had a net margin of 9.88% and a return on equity of 15.00%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 EPS. equities analysts predict that Baxter International Inc will post 2.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, November 30th. Baxter International’s dividend payout ratio (DPR) is 34.59%.
In other news, SVP Jeanne K. Mason sold 33,350 shares of Baxter International stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $65.25, for a total transaction of $2,176,087.50. Following the completion of the transaction, the senior vice president now directly owns 124,609 shares of the company’s stock, valued at approximately $8,130,737.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Giuseppe Accogli sold 28,641 shares of Baxter International stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $67.00, for a total transaction of $1,918,947.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,061,991 shares of company stock valued at $325,245,035. Insiders own 0.05% of the company’s stock.
Large investors have recently bought and sold shares of the company. Grove Bank & Trust increased its holdings in shares of Baxter International by 526.0% during the 3rd quarter. Grove Bank & Trust now owns 2,285 shares of the medical instruments supplier’s stock valued at $143,000 after purchasing an additional 1,920 shares in the last quarter. Acrospire Investment Management LLC increased its holdings in Baxter International by 71.3% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock worth $145,000 after acquiring an additional 1,000 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Baxter International in the 3rd quarter worth $175,000. Harvest Fund Management Co. Ltd increased its holdings in Baxter International by 8.4% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock worth $177,000 after acquiring an additional 226 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Baxter International in the 2nd quarter worth $188,000. 83.78% of the stock is owned by hedge funds and other institutional investors.
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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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