Traders Buy Baxter International Inc. (BAX) on Weakness
Traders purchased shares of Baxter International Inc. (NYSE:BAX) on weakness during trading on Friday. $26.85 million flowed into the stock on the tick-up and $14.45 million flowed out of the stock on the tick-down, for a money net flow of $12.40 million into the stock. Of all companies tracked, Baxter International had the 28th highest net in-flow for the day. Baxter International traded down ($0.02) for the day and closed at $48.06
Several analysts have recently issued reports on BAX shares. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Baxter International in a report on Wednesday, July 6th. Piper Jaffray Cos. raised 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. JPMorgan Chase & Co. raised their price objective on Baxter International from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Zacks Investment Research lowered Baxter International from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $43.00 price objective 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 assigned a buy rating to the stock. Baxter International has a consensus rating of “Hold” and an average price target of $47.67.
The company has a market capitalization of $26.54 billion and a P/E ratio of 5.52. The stock has a 50-day moving average price of $46.29 and a 200 day moving average price of $42.47.
Baxter International (NYSE:BAX) last posted its earnings results on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.06. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Baxter International’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts predict that Baxter International Inc. will post $1.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Wednesday, August 31st.
In other Baxter International news, CEO Jose E. Almeida bought 11,691 shares of Baxter International stock in a transaction that occurred on Monday, May 23rd. The stock was acquired at an average cost of $42.75 per share, for a total transaction of $499,790.25. Following the completion of the transaction, the chief executive officer now directly owns 11,691 shares in the company, valued at $499,790.25. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of institutional investors have bought and sold shares of the company. Advantus Capital Management Inc boosted its position 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 last quarter. Mutual of America Capital Management LLC boosted its position 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. Jennison Associates purchased a new position in Baxter International during the third quarter worth about $2,841,000. MUFG Americas boosted its position in 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 during the last quarter. Finally, Airain ltd boosted its position in 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 during 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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