Investors Buy Baxter International Inc. (BAX) on Weakness
Investors bought shares of Baxter International Inc. (NYSE:BAX) on weakness during trading hours on Friday. $26.85 million flowed into the stock on the tick-up and $14.45 million flowed out of the stock on the tick-down, for a money net flow of $12.40 million into the stock. Of all companies tracked, Baxter International had the 28th highest net in-flow for the day. Baxter International traded down ($0.02) for the day and closed at $48.06
A number of brokerages have recently issued reports on BAX. JPMorgan Chase & Co. increased their price target on shares of Baxter International from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th. RBC Capital Markets reiterated a “hold” rating and issued 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 reiterated a “sector perform” rating and issued a $47.00 price target (up previously from $40.00) on shares of Baxter International in a report on Wednesday, April 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, Piper Jaffray Cos. restated an “overweight” rating and set a $60.00 target price (up from $58.00) on shares of Baxter International in a report on Tuesday, May 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $47.67.
The stock has a 50 day moving average of $46.29 and a 200-day moving average of $42.47. The company has a market cap of $26.54 billion and a price-to-earnings ratio of 5.52.
Baxter International (NYSE:BAX) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. The company earned $2.60 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the company earned $1.00 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities analysts anticipate that Baxter International Inc. will post $1.73 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.08%. The ex-dividend date is Wednesday, August 31st.
In related news, CEO Jose E. Almeida acquired 11,691 shares of Baxter International stock in a transaction that occurred on Monday, May 23rd. The stock was acquired at an average price of $42.75 per share, with a total value of $499,790.25. Following the completion of the acquisition, the chief executive officer now directly owns 11,691 shares of the company’s stock, valued at approximately $499,790.25. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
A number of large investors recently bought and sold shares of the company. Janus Capital Management increased its stake in Baxter International by 86.3% in the third quarter. Janus Capital Management now owns 4,321,173 shares of the company’s stock valued at $141,951,000 after buying an additional 2,001,899 shares during the last quarter. US Bancorp DE increased 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 valued at $13,800,000 after buying an additional 35,819 shares during the last quarter. Airain ltd increased 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. Jennison Associates bought a new stake in Baxter International during the third quarter valued at $2,841,000. Finally, Mutual of America Capital Management LLC increased 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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