Investors Sell Shares of Baxter International Inc. (BAX) on Strength (BAX)
Investors sold shares of Baxter International Inc. (NYSE:BAX) on strength during trading hours on Friday. $16.80 million flowed into the stock on the tick-up and $34.24 million flowed out of the stock on the tick-down, for a money net flow of $17.44 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 $0.08 for the day and closed at $47.18
BAX has been the topic of several recent research reports. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Baxter International in a report on Wednesday, July 6th. Argus reissued a “hold” rating on shares of Baxter International in a report on Monday, August 15th. JPMorgan Chase & Co. increased their price target on shares of Baxter International from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Zacks Investment Research downgraded shares of Baxter International from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $43.00 price target on shares of Baxter International in a report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Baxter International has a consensus rating of “Hold” and an average price target of $47.91.
The company’s 50-day moving average price is $47.57 and its 200 day moving average price is $43.70. The firm has a market cap of $25.66 billion and a price-to-earnings ratio of 5.42.
Baxter International (NYSE:BAX) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.51 billion. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, equities analysts predict that Baxter International Inc. will post $1.72 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 2nd will be paid a dividend of $0.13 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.10%.
A hedge fund recently raised its stake in Baxter International stock. Ameriprise Financial Inc. increased its position in shares of Baxter International Inc. (NYSE:BAX) by 27.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,928,054 shares of the company’s stock after buying an additional 415,872 shares during the period. Ameriprise Financial Inc. owned about 0.35% of Baxter International worth $73,561,000 as of its most recent filing with the SEC.
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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