Baxter International Inc. (BAX) Announces $0.16 Quarterly Dividend
Baxter International Inc. (NYSE:BAX) announced a quarterly dividend on Tuesday, November 14th, RTT News reports. Stockholders of record on Friday, December 1st will be given a dividend of 0.16 per share by the medical instruments supplier on Tuesday, January 2nd. This represents a $0.64 annualized dividend and a dividend yield of 0.99%.
Baxter International has decreased its dividend by an average of 36.1% annually over the last three years. Baxter International has a payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Baxter International to earn $2.70 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 23.7%.
Baxter International (NYSE:BAX) opened at $64.41 on Tuesday. The firm has a market capitalization of $34,891.03, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.14 and a beta of 0.68. 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 has a 1 year low of $43.13 and a 1 year high of $65.70.
Baxter International (NYSE:BAX) last issued its quarterly earnings results on Wednesday, October 25th. The medical instruments supplier reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.05. Baxter International had a return on equity of 15.00% and a net margin of 9.88%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue was up 5.8% compared to the same quarter last year. sell-side analysts forecast that Baxter International will post 2.43 earnings per share for the current fiscal year.
Several equities analysts have weighed in on BAX shares. Zacks Investment Research raised shares of Baxter International from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Tuesday, October 24th. Royal Bank Of Canada reiterated a “hold” rating and set a $60.00 target price on shares of Baxter International in a research note on Friday, September 1st. Cowen and Company reissued a “market perform” rating and issued a $68.00 price target (up from $66.00) on shares of Baxter International in a report on Thursday, July 27th. BidaskClub downgraded Baxter International from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Morgan Stanley reissued an “underweight” rating and issued a $55.00 price objective (up from $52.00) on shares of Baxter International in a research report on Tuesday, July 25th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $67.00.
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In other Baxter International news, Director Third Point Llc sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $64.23, for a total transaction of $321,150,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Giuseppe Accogli sold 12,670 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $60.96, for a total value of $772,363.20. Following the transaction, the senior vice president now directly owns 33,286 shares in the company, valued at approximately $2,029,114.56. The disclosure for this sale can be found here. In the last three months, insiders sold 5,035,050 shares of company stock worth $323,308,587. 0.05% of the stock is owned by insiders.
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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