Traders Sell Baxter International Inc. (BAX) on Strength (BAX)
Investors sold shares of Baxter International Inc. (NYSE:BAX) on strength during trading on Tuesday. $39.79 million flowed into the stock on the tick-up and $77.43 million flowed out of the stock on the tick-down, for a money net flow of $37.64 million out of the stock. Of all companies tracked, Baxter International had the 0th highest net out-flow for the day. Baxter International traded up $1.91 for the day and closed at $48.01
Several research firms have recently commented on BAX. Royal Bank Of Canada raised their target price on shares of Baxter International from $47.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Morgan Stanley reaffirmed a “sell” rating on shares of Baxter International in a research report on Sunday, May 8th. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Thursday, April 28th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Baxter International in a research report on Tuesday, May 10th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $45.00 target price on shares of Baxter International in a research report on Friday, July 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $46.33.
The firm’s 50 day moving average price is $45.42 and its 200-day moving average price is $41.87. The stock has a market capitalization of $26.51 billion and a price-to-earnings ratio of 6.74.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.51 billion. The company’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 EPS. Equities research analysts predict that Baxter International Inc. will post $1.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Wednesday, August 31st.
In other news, Director John D. Forsyth sold 1,887 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 26,320 shares of the company’s stock, valued at $1,168,081.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jose E. Almeida bought 11,691 shares of the stock in a transaction dated Monday, May 23rd. The shares were bought at an average cost of $42.75 per share, with a total value 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.
Several hedge funds recently modified their holdings of BAX. Janus Capital Management raised its stake in shares of Baxter International by 86.3% in the third quarter. Janus Capital Management now owns 4,321,173 shares of the company’s stock worth $141,951,000 after buying an additional 2,001,899 shares in the last quarter. Mutual of America Capital Management LLC raised its stake 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 worth $2,332,000 after buying an additional 625 shares in the last quarter. Twin Capital Management Inc. bought a new stake in shares of Baxter International during the fourth quarter worth about $1,939,000. MUFG Americas raised its stake in shares of Baxter International by 6.1% in the third quarter. MUFG Americas now owns 183,020 shares of the company’s stock worth $6,013,000 after buying an additional 10,537 shares in the last quarter. Finally, Airain ltd raised its stake in shares of Baxter International by 82.5% in the fourth quarter. Airain ltd now owns 197,303 shares of the company’s stock worth $7,527,000 after buying an additional 89,170 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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