Baxter International (NYSE:BAX) Sees Unusually-High Trading Volume

Baxter International Inc. (NYSE:BAXGet Rating) saw an uptick in trading volume on Wednesday . 76,902 shares changed hands during mid-day trading, a decline of 98% from the previous session’s volume of 3,232,912 shares.The stock last traded at $76.24 and had previously closed at $73.90.

Several research firms have issued reports on BAX. Citigroup lowered their price objective on shares of Baxter International from $98.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, May 17th. TheStreet cut shares of Baxter International from a “b-” rating to a “c” rating in a research report on Thursday, April 28th. StockNews.com assumed coverage on shares of Baxter International in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Wells Fargo & Company reduced their price target on shares of Baxter International from $95.00 to $93.00 and set an “overweight” rating for the company in a report on Friday, February 18th. Finally, Morgan Stanley reduced their price target on shares of Baxter International from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Baxter International presently has an average rating of “Buy” and a consensus target price of $89.92.

The stock has a fifty day moving average of $75.44 and a 200-day moving average of $80.43. The stock has a market cap of $37.85 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 1.59 and a beta of 0.62. The company has a quick ratio of 1.45, a current ratio of 2.10 and a debt-to-equity ratio of 1.84.

Baxter International (NYSE:BAXGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The medical instruments supplier reported $0.93 EPS for the quarter, topping the consensus estimate of $0.80 by $0.13. Baxter International had a return on equity of 21.59% and a net margin of 7.80%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the company earned $0.76 EPS. The company’s quarterly revenue was up 25.8% on a year-over-year basis. Equities research analysts forecast that Baxter International Inc. will post 4.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 3rd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Thursday, June 2nd. This is a boost from Baxter International’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a dividend yield of 1.54%. Baxter International’s payout ratio is currently 53.59%.

In other news, Director Albert P. L. Stroucken sold 4,020 shares of Baxter International stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $76.02, for a total transaction of $305,600.40. Following the sale, the director now owns 27,629 shares of the company’s stock, valued at $2,100,356.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Brian Stevens sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, February 28th. The shares were sold at an average price of $85.50, for a total transaction of $213,750.00. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Eagle Bay Advisors LLC lifted its stake in shares of Baxter International by 140.0% in the 3rd quarter. Eagle Bay Advisors LLC now owns 324 shares of the medical instruments supplier’s stock valued at $26,000 after purchasing an additional 189 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC bought a new position in shares of Baxter International during the 4th quarter worth about $26,000. Norwood Financial Corp bought a new position in shares of Baxter International during the 4th quarter worth about $32,000. Rosenberg Matthew Hamilton increased its holdings in shares of Baxter International by 252.8% during the 1st quarter. Rosenberg Matthew Hamilton now owns 441 shares of the medical instruments supplier’s stock worth $34,000 after purchasing an additional 316 shares during the period. Finally, FSB Premier Wealth Management Inc. bought a new position in shares of Baxter International during the 4th quarter worth about $39,000. 86.65% of the stock is owned by institutional investors.

Baxter International Company Profile (NYSE:BAX)

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; intravenous therapies, infusion pumps, administration sets, and drug reconstitution devices; remixed and oncology drug platforms, inhaled anesthesia and critical care products and pharmacy compounding services; parenteral nutrition therapies and related products; biological products and medical devices used in surgical procedures for hemostasis, tissue sealing and adhesion prevention; and continuous renal replacement therapies and other organ support therapies focused in the intensive care unit.

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