Baxter International Sees Unusually Large Options Volume (BAX)
Baxter International Inc. (NYSE:BAX) was the recipient of unusually large options trading on Friday. Stock investors acquired 9,457 call options on the company. This represents an increase of Infinity compared to the typical daily volume of 0 call options.
BAX has been the topic of several research reports. Cantor Fitzgerald set a $70.00 price target on Baxter International and gave the company a “buy” rating in a research report on Wednesday, July 26th. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, October 10th. BidaskClub lowered Baxter International from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. BMO Capital Markets restated a “buy” rating and set a $70.00 price target on shares of Baxter International in a research report on Friday, October 13th. Finally, Morgan Stanley lifted their price target on Baxter International from $59.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $67.00.
Baxter International (NYSE:BAX) opened at $64.04 on Monday. The stock has a market capitalization of $34,891.04, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.14 and a beta of 0.68. Baxter International has a one year low of $43.13 and a one year high of $65.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.22 and a current ratio of 2.80.
Baxter International (NYSE:BAX) last announced its quarterly earnings data on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 earnings per share. equities research analysts forecast that Baxter International will post 2.43 EPS for the current fiscal year.
In other news, Director Carole J. Shapazian sold 4,020 shares of Baxter International stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $61.61, for a total value of $247,672.20. Following the sale, the director now directly owns 13,868 shares in the company, valued at approximately $854,407.48. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Third Point Llc sold 5,000,000 shares of Baxter International stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $64.23, for a total value of $321,150,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,035,050 shares of company stock worth $323,308,587. Corporate insiders own 0.05% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Baker Ellis Asset Management LLC purchased a new position in shares of Baxter International in the second quarter worth $109,000. Acrospire Investment Management LLC raised its stake in shares of Baxter International by 71.3% in the second quarter. Acrospire Investment Management LLC now owns 2,402 shares of the medical instruments supplier’s stock worth $145,000 after purchasing an additional 1,000 shares during the last quarter. Harvest Fund Management Co. Ltd raised its stake in shares of Baxter International by 8.4% in the second quarter. Harvest Fund Management Co. Ltd now owns 2,928 shares of the medical instruments supplier’s stock worth $177,000 after purchasing an additional 226 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Baxter International in the second quarter worth $188,000. Finally, Salem Investment Counselors Inc. raised its stake in shares of Baxter International by 400.0% in the first quarter. Salem Investment Counselors Inc. now owns 3,800 shares of the medical instruments supplier’s stock worth $198,000 after purchasing an additional 3,040 shares during the last quarter. Institutional investors and hedge funds own 83.77% of the company’s stock.
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Baxter International Company Profile
Baxter International Inc, through its subsidiaries, provides renal and hospital products. The Company operates through two segments: Hospital Products and Renal. Its Hospital Products business manufactures sterile intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, parenteral nutrition therapies, infusion pumps, inhalation anesthetics and biosurgery products.
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