Baxter International Inc. (NYSE:BAX – Get Rating) was the target of unusually large options trading on Tuesday. Stock traders acquired 5,121 put options on the stock. This is an increase of 85% compared to the average daily volume of 2,763 put options.
Analyst Ratings Changes
BAX has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered Baxter International from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $68.00 to $55.00 in a research note on Monday. Jefferies Financial Group assumed coverage on Baxter International in a research report on Wednesday, October 12th. They issued a “hold” rating and a $62.00 target price for the company. Morgan Stanley dropped their target price on Baxter International from $72.00 to $70.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 11th. Wells Fargo & Company dropped their target price on Baxter International from $59.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Thursday, December 15th. Finally, Barclays initiated coverage on shares of Baxter International in a report on Monday, October 17th. They issued an “overweight” rating and a $64.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $67.33.
Baxter International Stock Up 0.2 %
BAX traded up $0.11 on Tuesday, hitting $50.06. The company had a trading volume of 69,808 shares, compared to its average volume of 3,507,332. The company has a debt-to-equity ratio of 2.90, a current ratio of 2.11 and a quick ratio of 1.38. Baxter International has a 52-week low of $49.00 and a 52-week high of $89.70. The stock has a fifty day simple moving average of $53.98 and a 200-day simple moving average of $58.92. The firm has a market capitalization of $25.24 billion, a P/E ratio of -10.58, a P/E/G ratio of 2.10 and a beta of 0.59.
Baxter International (NYSE:BAX – Get Rating) last released its earnings results on Thursday, October 27th. The medical instruments supplier reported $0.82 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.82. The firm had revenue of $3.77 billion during the quarter, compared to analyst estimates of $3.77 billion. Baxter International had a negative net margin of 16.12% and a positive return on equity of 22.65%. As a group, equities analysts expect that Baxter International will post 3.57 EPS for the current fiscal year.
Baxter International Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 2nd will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Thursday, December 1st. Baxter International’s dividend payout ratio (DPR) is presently -24.58%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Neuberger Berman Group LLC lifted its stake in shares of Baxter International by 2,202.6% during the 1st quarter. Neuberger Berman Group LLC now owns 1,650,719 shares of the medical instruments supplier’s stock valued at $128,029,000 after buying an additional 1,579,029 shares in the last quarter. Cooke & Bieler LP lifted its stake in Baxter International by 19.2% in the 2nd quarter. Cooke & Bieler LP now owns 1,295,745 shares of the medical instruments supplier’s stock worth $83,226,000 after purchasing an additional 208,650 shares in the last quarter. Cincinnati Financial Corp lifted its stake in Baxter International by 14.1% in the 3rd quarter. Cincinnati Financial Corp now owns 1,563,648 shares of the medical instruments supplier’s stock worth $84,218,000 after purchasing an additional 193,000 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Baxter International by 140.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 327,977 shares of the medical instruments supplier’s stock worth $25,431,000 after buying an additional 191,637 shares during the last quarter. Finally, Tobam increased its holdings in shares of Baxter International by 56.2% in the 3rd quarter. Tobam now owns 497,234 shares of the medical instruments supplier’s stock worth $26,781,000 after buying an additional 179,001 shares during the last quarter. Hedge funds and other institutional investors own 84.69% of the company’s stock.
About Baxter International
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.