Baxter International Inc. (NYSE:BAX) Director John D. Forsyth sold 9,440 shares of the company’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $61.76, for a total transaction of $583,014.40. Following the completion of the sale, the director now owns 32,444 shares in the company, valued at approximately $2,003,741.44. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Shares of Baxter International Inc. (NYSE:BAX) traded up 0.50% on Wednesday, hitting $64.47. 739,892 shares of the stock traded hands. The firm’s 50 day moving average is $61.20 and its 200 day moving average is $57.39. The firm has a market capitalization of $35.13 billion, a PE ratio of 39.12 and a beta of 0.66. Baxter International Inc. has a 52 week low of $43.13 and a 52 week high of $64.66.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Wednesday, July 26th. The medical instruments supplier reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. Baxter International had a return on equity of 14.82% and a net margin of 8.85%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period last year, the business earned $0.46 EPS. The business’s revenue was up .8% on a year-over-year basis. On average, analysts expect that Baxter International Inc. will post $2.39 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, August 30th. Baxter International’s dividend payout ratio (DPR) is presently 38.79%.
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Several equities research analysts recently weighed in on BAX shares. BidaskClub lowered shares of Baxter International from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Cantor Fitzgerald set a $70.00 target price on shares of Baxter International and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and issued a $71.00 target price on shares of Baxter International in a research report on Tuesday, May 16th. Stifel Nicolaus upped their target price on shares of Baxter International from $58.00 to $61.00 and gave the stock a “hold” rating in a research report on Wednesday, May 31st. Finally, Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $65.31.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Baxter International during the 1st quarter worth $365,000. Sivik Global Healthcare LLC bought a new stake in shares of Baxter International during the 1st quarter worth $5,705,000. Envestnet Asset Management Inc. raised its stake in shares of Baxter International by 1.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 268,759 shares of the medical instruments supplier’s stock worth $13,939,000 after purchasing an additional 2,564 shares during the period. Adalta Capital Management LLC bought a new stake in shares of Baxter International during the 1st quarter worth $1,207,000. Finally, Veritas Asset Management LLP raised its stake in shares of Baxter International by 3.5% during the 1st quarter. Veritas Asset Management LLP now owns 9,951,759 shares of the medical instruments supplier’s stock worth $516,098,000 after purchasing an additional 334,700 shares during the period. Institutional investors own 83.71% of the company’s stock.
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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