Traders Sell Baxter International Inc. (BAX) on Strength (BAX)
Traders sold shares of Baxter International Inc. (NYSE:BAX) on strength during trading on Thursday. $12.66 million flowed into the stock on the tick-up and $33.89 million flowed out of the stock on the tick-down, for a money net flow of $21.23 million out of the stock. Of all stocks tracked, Baxter International had the 0th highest net out-flow for the day. Baxter International traded up $0.13 for the day and closed at $46.12
BAX has been the topic of a number of research reports. Argus restated a “hold” rating on shares of Baxter International in a report on Thursday, March 24th. Leerink Swann upgraded Baxter International from a “market perform” rating to an “outperform” rating in a report on Monday, March 21st. Piper Jaffray Cos. upgraded Baxter International from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $39.00 to $58.00 in a report on Thursday, April 14th. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a report on Thursday, April 14th. Finally, Credit Suisse Group AG boosted their price target on Baxter International from $39.00 to $45.00 and gave the company a “neutral” rating in a report on Monday, April 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $45.38.
The company’s 50-day moving average is $44.21 and its 200-day moving average is $41.01. The stock has a market cap of $25.47 billion and a P/E ratio of 6.47.
Baxter International (NYSE:BAX) last issued its earnings results on Tuesday, April 26th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.07. The firm earned $2.40 billion during the quarter, compared to analyst estimates of $2.35 billion. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. On average, analysts expect that Baxter International Inc. will post $1.65 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 3rd were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $0.52 annualized dividend and a dividend yield of 1.13%. This is a positive change from Baxter International’s previous quarterly dividend of $0.12.
In other news, CEO Jose E. Almeida bought 11,691 shares of Baxter International stock in a transaction dated Monday, May 23rd. The stock was bought at an average cost of $42.75 per share, for a total transaction of $499,790.25. Following the purchase, the chief executive officer now directly owns 11,691 shares in the company, valued at approximately $499,790.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John D. Forsyth sold 1,887 shares of the firm’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $44.38, for a total value of $83,745.06. Following the completion of the sale, the director now owns 26,320 shares of the company’s stock, valued at $1,168,081.60. The disclosure for this sale can be found here.
A number of institutional investors have made changes to their positions in the stock. Garcia Hamilton & Associates LP DE boosted its position in shares of Baxter International by 2.6% in the fourth quarter. Garcia Hamilton & Associates LP DE now owns 39,644 shares of the company’s stock valued at $1,512,000 after buying an additional 987 shares during the last quarter. Twin Capital Management Inc. acquired a new position in shares of Baxter International during the fourth quarter valued at $1,939,000. Advantus Capital Management Inc boosted its position in shares of Baxter International by 2.8% in the fourth quarter. Advantus Capital Management Inc now owns 52,263 shares of the company’s stock valued at $1,994,000 after buying an additional 1,429 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Baxter International by 1.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 61,116 shares of the company’s stock valued at $2,332,000 after buying an additional 625 shares during the last quarter. Finally, Jennison Associates acquired a new position in shares of Baxter International during the third quarter valued at $2,841,000.
Baxter International Inc, through its subsidiaries, provides a portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics, and pharmacy automation, software and services.
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