Baxter International Inc. (BAX) Hits New 12-Month High at $49.38
Baxter International Inc. (NYSE:BAX)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $49.38 and last traded at $49.31, with a volume of 2,000,236 shares traded. The stock had previously closed at $48.60.
Several equities analysts recently commented on BAX shares. Goldman Sachs Group Inc. restated a “buy” rating on shares of Baxter International in a research report on Wednesday, July 6th. Piper Jaffray Cos. upgraded Baxter International from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $39.00 to $58.00 in a research report on Thursday, April 14th. JPMorgan Chase & Co. raised their target price on Baxter International from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Zacks Investment Research downgraded Baxter International from a “buy” rating to a “hold” rating in a research report on Thursday, April 21st. Finally, BMO Capital Markets restated a “hold” rating and set a $43.00 target price on shares of Baxter International in a research report on Tuesday, May 10th. One 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 currently has an average rating of “Hold” and an average target price of $47.67.
The company has a 50 day moving average price of $46.58 and a 200 day moving average price of $42.80. The company has a market capitalization of $26.73 billion and a price-to-earnings ratio of 5.64.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. The company earned $2.60 billion during the quarter, compared to the consensus estimate of $2.51 billion. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 earnings per share. Equities analysts anticipate that Baxter International Inc. will post $1.73 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, August 31st.
In related news, CEO Jose E. Almeida purchased 11,691 shares of the business’s 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 purchase, the chief executive officer now owns 11,691 shares in the company, valued at approximately $499,790.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Other large investors have added to or reduced their stakes in the company. Argent Capital Management LLC acquired a new stake in Baxter International during the fourth quarter valued at $40,732,000. Airain ltd boosted 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 last quarter. Advantus Capital Management Inc boosted 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 last quarter. Finally, Mutual of America Capital Management LLC boosted 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 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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