Baxter International Inc. (BAX) Reaches New 1-Year High at $48.76
Baxter International Inc. (NYSE:BAX) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $48.76 and last traded at $48.67, with a volume of 1,781,868 shares traded. The stock had previously closed at $48.02.
Several research analysts have issued reports on the stock. JPMorgan Chase & Co. raised 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 upgraded shares of Baxter International from a “sell” rating to a “hold” rating and set a $54.00 price target for the company in a report on Wednesday, July 27th. RBC Capital Markets restated a “hold” rating and set a $50.00 price target (up previously from $47.00) on shares of Baxter International in a report on Wednesday, July 27th. Royal Bank Of Canada raised their price target on shares of Baxter International from $47.00 to $50.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 27th. Finally, Goldman Sachs Group Inc. restated a “buy” rating on shares of Baxter International in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $47.67.
The stock has a market cap of $26.80 billion and a PE ratio of 5.57. The stock has a 50-day moving average price of $45.74 and a 200-day moving average price of $42.05.
Baxter International (NYSE:BAX) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. During the same period last year, the company posted $1.00 EPS. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.51 billion. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts anticipate that Baxter International Inc. will post $1.71 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Wednesday, August 31st.
In related news, CEO Jose E. Almeida acquired 11,691 shares of the company’s stock in a transaction dated Monday, May 23rd. The stock was purchased at an average price of $42.75 per share, with a total value 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
Other hedge funds recently added to or reduced their stakes in the company. 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 worth $2,332,000 after buying an additional 625 shares during the period. 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 worth $1,994,000 after buying an additional 1,429 shares during the period. 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 worth $6,013,000 after buying an additional 10,537 shares during the period. Coho Partners Ltd. raised its stake in Baxter International by 1.9% in the fourth quarter. Coho Partners Ltd. now owns 1,583,739 shares of the company’s stock worth $60,420,000 after buying an additional 29,823 shares during the period. Finally, US Bancorp DE raised its stake in Baxter International by 11.0% in the fourth quarter. US Bancorp DE now owns 361,726 shares of the company’s stock worth $13,800,000 after buying an additional 35,819 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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