Traders Buy Baxter International Inc. (BAX) on Weakness
Investors purchased shares of Baxter International Inc. (NYSE:BAX) on weakness during trading on Monday. $32.42 million flowed into the stock on the tick-up and $12.26 million flowed out of the stock on the tick-down, for a money net flow of $20.16 million into the stock. Of all companies tracked, Baxter International had the 24th highest net in-flow for the day. Baxter International traded down ($0.22) for the day and closed at $46.10
Several equities research analysts recently commented on BAX shares. Evercore ISI started coverage on shares of Baxter International in a research note on Wednesday, May 4th. They set a “buy” rating and a $51.00 price objective on the stock. Zacks Investment Research upgraded shares of Baxter International from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Thursday, April 28th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Baxter International in a research note on Wednesday, July 6th. Credit Suisse Group AG reiterated a “hold” rating on shares of Baxter International in a research note on Tuesday, May 10th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $43.00 target price on shares of Baxter International in a research note on Tuesday, May 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $46.08.
The company’s 50 day moving average price is $45.30 and its 200 day moving average price is $41.78. The firm has a market capitalization of $25.46 billion and a price-to-earnings ratio of 6.47.
Baxter International (NYSE:BAX) last released its earnings results on Tuesday, April 26th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Equities analysts predict that Baxter International Inc. will post $1.64 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.13%.
In related news, Director John D. Forsyth sold 1,887 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $44.38, for a total transaction of $83,745.06. Following the sale, the director now directly owns 26,320 shares in the company, valued at $1,168,081.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jose E. Almeida bought 11,691 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were purchased at an average price of $42.75 per share, for a total transaction of $499,790.25. Following the completion of the purchase, 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.
Other hedge funds have recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC raised 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 worth $2,332,000 after buying an additional 625 shares during the last quarter. 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. Gulf International Bank UK Ltd raised its position in shares of Baxter International by 2.8% in the fourth quarter. Gulf International Bank UK Ltd now owns 159,292 shares of the company’s stock valued at $6,077,000 after buying an additional 4,380 shares in the last quarter. MUFG Americas raised its position in shares of Baxter International by 6.1% in the third quarter. MUFG Americas now owns 183,020 shares of the company’s stock valued at $6,013,000 after buying an additional 10,537 shares in the last quarter. Finally, Coho Partners Ltd. raised its position in shares of 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.
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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