Baxter International Inc. (BAX) Reaches New 52-Week High at $48.76
Baxter International Inc. (NYSE:BAX) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $48.76 and last traded at $48.67, with a volume of 1,781,868 shares trading hands. The stock had previously closed at $48.02.
A number of research firms recently issued reports on BAX. JPMorgan Chase & Co. lifted their price target on shares of Baxter International from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. RBC Capital Markets reissued a “hold” rating and issued a $50.00 price target (up previously from $47.00) on shares of Baxter International in a research note on Wednesday, July 27th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $47.00 price target (up previously from $40.00) on shares of Baxter International in a research note on Wednesday, April 27th. Zacks Investment Research cut shares of Baxter International from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $60.00 price target (up previously from $58.00) on shares of Baxter International in a research note on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. Baxter International has an average rating of “Hold” and an average target price of $47.67.
The company has a market cap of $26.77 billion and a PE ratio of 5.57. The stock’s 50 day moving average is $45.97 and its 200 day moving average is $42.35.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. The company’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 EPS. Equities research analysts predict that Baxter International Inc. will post $1.73 earnings per share for the current year.
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Wednesday, August 31st.
In other news, CEO Jose E. Almeida bought 11,691 shares of the stock in a transaction on Monday, May 23rd. The shares were bought at an average price of $42.75 per share, with a total value of $499,790.25. Following the completion of the acquisition, the chief executive officer now owns 11,691 shares of the company’s stock, valued at $499,790.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of hedge funds have recently bought and sold shares of the stock. Advantus Capital Management Inc raised 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 during the period. 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 valued at $2,332,000 after buying an additional 625 shares during the period. Jennison Associates purchased a new stake in Baxter International during the third quarter valued at $2,841,000. MUFG Americas raised its stake in 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 during the period. Finally, Airain ltd raised its stake in Baxter International by 82.5% in the fourth quarter. Airain ltd now owns 197,303 shares of the company’s stock valued at $7,527,000 after buying an additional 89,170 shares during the period.
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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