Baxter International Inc. (NYSE:BAX) Director John D. Forsyth sold 9,440 shares of the stock in a transaction on Friday, August 25th. The shares were sold at an average price of $61.76, for a total value of $583,014.40. Following the transaction, the director now directly owns 32,444 shares in the company, valued at $2,003,741.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of Baxter International Inc. (NYSE:BAX) traded down 0.37% during midday trading on Tuesday, reaching $61.41. The company’s stock had a trading volume of 1,562,198 shares. The stock has a 50-day moving average of $61.03 and a 200 day moving average of $56.34. The firm has a market capitalization of $33.46 billion, a P/E ratio of 37.26 and a beta of 0.66. Baxter International Inc. has a 12-month low of $43.13 and a 12-month high of $63.14.

Baxter International (NYSE:BAX) last issued its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. Baxter International had a net margin of 8.85% and a return on equity of 14.82%. The company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.59 billion. During the same period last year, the firm posted $0.46 EPS. Baxter International’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts predict that Baxter International Inc. will post $2.39 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s payout ratio is 38.79%.

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Several research firms have recently weighed in on BAX. Morgan Stanley reissued an “underweight” rating and set a $55.00 price target (up from $52.00) on shares of Baxter International in a report on Tuesday, July 25th. Citigroup Inc. began coverage on Baxter International in a report on Thursday, August 17th. They set a “neutral” rating and a $63.00 price target on the stock. Barclays PLC increased their price target on Baxter International from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Cantor Fitzgerald set a $70.00 price target on Baxter International and gave the company a “buy” rating in a report on Wednesday, July 26th. Finally, BMO Capital Markets raised Baxter International from a “market perform” rating to an “outperform” rating and increased their price target for the company from $55.00 to $70.00 in a report on Tuesday, July 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $65.15.

Hedge funds have recently modified their holdings of the stock. Griffin Asset Management Inc. purchased a new stake in shares of Baxter International during the second quarter valued at $457,000. Achmea Investment Management B.V. increased its stake in shares of Baxter International by 15.3% in the second quarter. Achmea Investment Management B.V. now owns 94,282 shares of the medical instruments supplier’s stock valued at $5,706,000 after buying an additional 12,537 shares during the last quarter. USA Financial Portformulas Corp purchased a new stake in shares of Baxter International during the second quarter valued at $510,000. Farmers National Bank increased its stake in shares of Baxter International by 42.4% in the second quarter. Farmers National Bank now owns 8,408 shares of the medical instruments supplier’s stock valued at $509,000 after buying an additional 2,502 shares during the last quarter. Finally, Atlantic Trust LLC increased its stake in shares of Baxter International by 2.1% in the second quarter. Atlantic Trust LLC now owns 42,430 shares of the medical instruments supplier’s stock valued at $2,609,000 after buying an additional 891 shares during the last quarter. 83.69% of the stock is currently owned by institutional investors and hedge funds.

Baxter International Company Profile

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.

Insider Buying and Selling by Quarter for Baxter International (NYSE:BAX)

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