Investors Buy Baxter International Inc. (BAX) on Weakness
Traders purchased shares of Baxter International Inc. (NYSE:BAX) on weakness during trading hours on Tuesday. $71.29 million flowed into the stock on the tick-up and $14.66 million flowed out of the stock on the tick-down, for a money net flow of $56.63 million into the stock. Of all stocks tracked, Baxter International had the 5th highest net in-flow for the day. Baxter International traded down ($0.02) for the day and closed at $48.48
Several equities analysts have recently weighed in on BAX shares. Evercore ISI started coverage on Baxter International in a report on Wednesday, May 4th. They set a “buy” rating and a $51.00 price target for the company. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research report on Thursday, April 28th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Baxter International in a research report on Wednesday, July 6th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Baxter International in a research report on Tuesday, May 10th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $43.00 price objective on shares of Baxter International in a research report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. Baxter International currently has a consensus rating of “Hold” and an average price target of $47.67.
The firm’s 50-day moving average price is $45.97 and its 200-day moving average price is $42.35. The company has a market cap of $26.77 billion and a PE ratio of 5.57.
Baxter International (NYSE:BAX) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.51 billion. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 earnings per share. Equities analysts predict that Baxter International Inc. will post $1.73 earnings per share for the current 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 1.07%. The ex-dividend date 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 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 directly owns 11,691 shares of the company’s stock, valued at approximately $499,790.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Other hedge funds and institutional investors have made changes to their positions in the company. Advantus Capital Management Inc raised 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 in the last quarter. Mutual of America Capital Management LLC raised 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 in the last quarter. Jennison Associates acquired a new position in shares of Baxter International during the third quarter valued at about $2,841,000. MUFG Americas raised its position in shares of Baxter International by 6.1% in the third quarter. MUFG Americas now owns 183,020 shares of the company’s stock valued at $6,013,000 after buying an additional 10,537 shares in the last quarter. Finally, Airain ltd raised 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 in 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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