Baxter International Sees Unusually Large Options Volume (BAX)
Baxter International Inc. (NYSE:BAX) was the recipient of some unusual options trading on Monday. Stock investors acquired 7,295 put options on the company. This is an increase of approximately 2,316% compared to the typical daily volume of 302 put options.
A number of research analysts have recently commented on the company. Royal Bank Of Canada increased their price target on Baxter International to $66.00 and gave the company a “sector perform” rating in a research note on Wednesday. Citigroup Inc. assumed coverage on Baxter International in a research note on Thursday, August 17th. They issued a “neutral” rating and a $63.00 price target for the company. Cowen and Company reiterated a “market perform” rating and issued a $68.00 price target (up from $66.00) on shares of Baxter International in a research note on Thursday, July 27th. Cantor Fitzgerald set a $70.00 price target on Baxter International and gave the company a “buy” rating in a research note on Wednesday, July 26th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $75.00 price target (up from $67.00) on shares of Baxter International in a research note on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Baxter International has an average rating of “Buy” and a consensus target price of $67.46.
Baxter International (NYSE:BAX) opened at $64.04 on Thursday. Baxter International has a 12-month low of $43.13 and a 12-month high of $65.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.80 and a quick ratio of 2.22. The firm has a market capitalization of $35,010.00, a PE ratio of 26.40, a PEG ratio of 2.14 and a beta of 0.68.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share for the quarter, topping 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 firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the company posted $0.56 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. research analysts predict that Baxter International will post 2.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Thursday, November 30th. Baxter International’s dividend payout ratio (DPR) is presently 34.59%.
In other news, Director Third Point Llc sold 5,000,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $64.23, for a total value of $321,150,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the director now owns 32,444 shares of the company’s stock, valued at $2,003,741.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,018,360 shares of company stock worth $322,288,552. Company insiders own 0.05% of the company’s stock.
Several hedge funds have recently bought and sold shares of BAX. Bessemer Group Inc. raised its position in shares of Baxter International by 42,907.2% in the 2nd quarter. Bessemer Group Inc. now owns 4,652,950 shares of the medical instruments supplier’s stock worth $281,690,000 after acquiring an additional 4,642,131 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Baxter International by 71.1% in 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. Point72 Asset Management L.P. bought a new position in shares of Baxter International in the 1st quarter worth about $32,851,000. Canada Pension Plan Investment Board raised its position in shares of Baxter International by 35.8% in 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. Finally, Bank of Nova Scotia raised its position in shares of Baxter International by 91.0% in the 1st quarter. Bank of Nova Scotia now owns 668,074 shares of the medical instruments supplier’s stock worth $34,646,000 after acquiring an additional 318,343 shares in the last quarter. 83.49% of the stock is owned by hedge funds and other institutional investors.
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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