Investors Sell Shares of Baxter International Inc. (BAX) on Strength (BAX)
Investors sold shares of Baxter International Inc. (NYSE:BAX) on strength during trading hours 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 equities 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
A number of equities analysts have issued reports on BAX shares. Leerink Swann upgraded Baxter International from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 17th. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a report on Thursday, April 14th. Credit Suisse Group AG reiterated a “hold” rating on shares of Baxter International in a report on Tuesday, May 10th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $45.00 price objective on shares of Baxter International in a report on Monday, June 6th. Finally, Piper Jaffray Cos. upgraded Baxter International from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $39.00 to $58.00 in a report on Thursday, April 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $45.38.
The stock has a market cap of $25.76 billion and a price-to-earnings ratio of 6.55. The stock has a 50-day moving average of $44.32 and a 200 day moving average of $41.08.
Baxter International (NYSE:BAX) last issued its earnings results on Tuesday, April 26th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.07. During the same quarter in the prior year, the company posted $1.00 earnings per share. The firm earned $2.40 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Baxter International’s quarterly revenue was down 1.2% compared to the same quarter last year. Equities analysts anticipate that Baxter International Inc. will post $1.64 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, June 3rd were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Wednesday, June 1st. This is a boost from Baxter International’s previous quarterly dividend of $0.12.
In other news, Director John D. Forsyth sold 1,887 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $44.38, for a total value of $83,745.06. Following the completion of the transaction, the director now directly owns 26,320 shares of the company’s stock, valued at approximately $1,168,081.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jose E. Almeida purchased 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, with a total value of $499,790.25. Following the completion of the transaction, the chief executive officer now owns 11,691 shares in the company, valued at approximately $499,790.25. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors recently added to or reduced their stakes in the company. Garcia Hamilton & Associates LP DE raised its position in 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 about $1,939,000. Advantus Capital Management Inc raised 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 in the last quarter. Mutual of America Capital Management LLC raised 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 in the last quarter. Finally, Jennison Associates acquired a new position in shares of Baxter International during the third quarter valued at about $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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