Traders Sell Shares of Baxter International Inc. (BAX) on Strength (BAX)
Traders sold shares of Baxter International Inc. (NYSE:BAX) on strength during trading on Wednesday. $30.46 million flowed into the stock on the tick-up and $59.14 million flowed out of the stock on the tick-down, for a money net flow of $28.68 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 $0.31 for the day and closed at $48.32
A number of research analysts have recently weighed in on BAX shares. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Baxter International in a research report on Wednesday, July 6th. Piper Jaffray Cos. raised Baxter International from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $39.00 to $58.00 in a research report on Thursday, April 14th. Zacks Investment Research cut Baxter International from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. BMO Capital Markets reaffirmed a “hold” rating and set a $43.00 price objective on shares of Baxter International in a research report on Tuesday, May 10th. Finally, Evercore ISI started coverage on Baxter International in a research report on Wednesday, May 4th. They set a “buy” rating and a $51.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Baxter International has an average rating of “Hold” and an average target price of $46.85.
The stock has a 50 day moving average price of $45.55 and a 200-day moving average price of $41.92. The stock has a market cap of $26.69 billion and a price-to-earnings ratio of 5.55.
Baxter International (NYSE:BAX) last posted its earnings results on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. During the same period last year, the business earned $1.00 earnings per share. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. The firm’s revenue was up 4.4% on a year-over-year basis. On average, analysts expect that Baxter International Inc. will post $1.68 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.08%. The ex-dividend date is Wednesday, August 31st.
In other Baxter International 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 transaction of $83,745.06. Following the transaction, the director now owns 26,320 shares in the company, valued at $1,168,081.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jose E. Almeida purchased 11,691 shares of the stock in a transaction on Monday, May 23rd. The shares were acquired at an average price of $42.75 per share, for a total transaction of $499,790.25. Following 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.
Other institutional investors have modified their holdings of the company. Twin Capital Management Inc. acquired a new position in shares of Baxter International during the fourth quarter worth about $1,939,000. Advantus Capital Management Inc increased 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 worth $1,994,000 after buying an additional 1,429 shares in the last quarter. Mutual of America Capital Management LLC increased 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 worth $2,332,000 after buying an additional 625 shares in the last quarter. Jennison Associates acquired a new position in shares of Baxter International during the third quarter worth about $2,841,000. Finally, Gulf International Bank UK Ltd increased 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 worth $6,077,000 after buying an additional 4,380 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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