Investors Sell Baxter International Inc. (BAX) on Strength (BAX)
Investors sold shares of Baxter International Inc. (NYSE:BAX) on strength during trading hours on Wednesday. $15.56 million flowed into the stock on the tick-up and $128.84 million flowed out of the stock on the tick-down, for a money net flow of $113.28 million out of the stock. Of all equities tracked, Baxter International had the 2nd highest net out-flow for the day. Baxter International traded up $0.45 for the day and closed at $48.60
BAX has been the topic of a number of research analyst reports. Piper Jaffray Cos. raised shares of Baxter International from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $39.00 to $58.00 in a report on Thursday, April 14th. Zacks Investment Research downgraded shares of Baxter International from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th. Credit Suisse Group AG boosted their target price on shares of Baxter International from $39.00 to $45.00 and gave the company a “neutral” rating in a research report on Monday, April 25th. Royal Bank Of Canada restated a “sector perform” rating and set a $47.00 target price (up from $40.00) on shares of Baxter International in a research report on Wednesday, April 27th. Finally, Evercore ISI assumed coverage on shares of Baxter International in a research report on Wednesday, May 4th. They set a “buy” rating and a $51.00 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Baxter International currently has a consensus rating of “Hold” and an average price target of $47.67.
The company has a market capitalization of $26.43 billion and a PE ratio of 5.58. The firm has a 50-day moving average of $46.58 and a 200-day moving average of $42.80.
Baxter International (NYSE:BAX) last posted its earnings results on Tuesday, July 26th. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The company earned $2.60 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period last year, the business earned $1.00 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts forecast 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. Shareholders 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 1.07%. The ex-dividend date is Wednesday, August 31st.
In other Baxter International news, CEO Jose E. Almeida acquired 11,691 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 11,691 shares of the company’s stock, valued at approximately $499,790.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of hedge funds and institutional investors have modified their holdings of the company. 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 valued at $2,332,000 after buying an additional 625 shares during the last quarter. 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 valued at $1,994,000 after buying an additional 1,429 shares during the last quarter. US Bancorp DE increased its position in shares of Baxter International by 11.0% in the fourth quarter. US Bancorp DE now owns 361,726 shares of the company’s stock valued at $13,800,000 after buying an additional 35,819 shares during the last quarter. Airain ltd increased its position in shares of 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 last quarter. Finally, Argent Capital Management LLC acquired a new position in shares of Baxter International during the fourth quarter valued at about $40,732,000.
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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