Baxter International Inc. (BAX) Hits New 52-Week High at $47.14
Shares of Baxter International Inc. (NYSE:BAX) reached a new 52-week high during trading on Tuesday . The stock traded as high as $47.14 and last traded at $47.10, with a volume of 2,315,000 shares traded. The stock had previously closed at $46.49.
Several analysts recently commented on BAX shares. Leerink Swann upgraded shares of Baxter International from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 17th. Zacks Investment Research cut shares of Baxter International from a “buy” rating to a “hold” rating in a research note on Thursday, April 14th. Credit Suisse Group AG reiterated a “hold” rating on shares of Baxter International in a research note 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 research note on Monday, June 6th. Finally, Piper Jaffray Cos. upgraded shares of Baxter International from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $39.00 to $58.00 in a research note on Thursday, April 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $45.38.
The company has a market cap of $25.87 billion and a price-to-earnings ratio of 6.57. The stock has a 50 day moving average of $44.54 and a 200-day moving average of $41.23.
Baxter International (NYSE:BAX) last announced its earnings results on Tuesday, April 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the company earned $1.00 EPS. The firm’s revenue for the quarter 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Stockholders of record on Friday, June 3rd were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This is an increase from Baxter International’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.11%.
In other news, Director John D. Forsyth sold 1,887 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 26,320 shares of the company’s stock, valued at $1,168,081.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jose E. Almeida acquired 11,691 shares of Baxter International stock in a transaction dated Monday, May 23rd. The stock was acquired 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 directly owns 11,691 shares of the company’s stock, valued at approximately $499,790.25. The disclosure for this purchase can be found here.
Several large investors have bought and sold shares of BAX. US Bancorp DE boosted its stake in Baxter International by 11.0% in the fourth quarter. US Bancorp DE now owns 361,726 shares of the company’s stock valued at $13,800,000 after buying an additional 35,819 shares in the last quarter. Advantus Capital Management Inc boosted its stake in 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. Coho Partners Ltd. boosted its stake in Baxter International by 1.9% in the fourth quarter. Coho Partners Ltd. now owns 1,583,739 shares of the company’s stock valued at $60,420,000 after buying an additional 29,823 shares in the last quarter. Twin Capital Management Inc. acquired a new stake in Baxter International during the fourth quarter valued at $1,939,000. Finally, Mutual of America Capital Management LLC boosted its stake in 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.
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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