Shares of Baxter International Inc (NYSE:BAX) reached a new 52-week high and low on Tuesday . The company traded as low as $75.49 and last traded at $75.55, with a volume of 174742 shares traded. The stock had previously closed at $75.05.
A number of analysts recently weighed in on BAX shares. Deutsche Bank upgraded Baxter International from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research report on Tuesday, February 20th. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research report on Monday, March 19th. ValuEngine upgraded Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Bank of America boosted their target price on Baxter International from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Tuesday, May 22nd. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $73.25.
The company has a quick ratio of 2.03, a current ratio of 2.63 and a debt-to-equity ratio of 0.39. The stock has a market cap of $40.26 billion, a price-to-earnings ratio of 30.07, a P/E/G ratio of 1.94 and a beta of 0.81.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 1st will be given a $0.19 dividend. The ex-dividend date is Thursday, May 31st. This represents a $0.76 annualized dividend and a yield of 1.02%. This is an increase from Baxter International’s previous quarterly dividend of $0.16. Baxter International’s payout ratio is presently 30.65%.
Baxter International announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 20th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the medical instruments supplier to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In related news, Director Peter S. Hellman sold 3,760 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $64.74, for a total transaction of $243,422.40. Following the completion of the transaction, the director now owns 25,522 shares in the company, valued at $1,652,294.28. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James R. Gavin III sold 18,750 shares of the company’s stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $64.56, for a total value of $1,210,500.00. Following the transaction, the director now owns 36,398 shares of the company’s stock, valued at approximately $2,349,854.88. The disclosure for this sale can be found here. Insiders sold 74,104 shares of company stock valued at $5,137,706 in the last quarter. Corporate insiders own 0.07% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Maverick Capital Ltd. raised its holdings in shares of Baxter International by 91.4% during the fourth quarter. Maverick Capital Ltd. now owns 108,210 shares of the medical instruments supplier’s stock valued at $6,995,000 after acquiring an additional 51,670 shares in the last quarter. BancorpSouth Bank bought a new position in shares of Baxter International during the fourth quarter valued at approximately $693,000. FDx Advisors Inc. raised its holdings in shares of Baxter International by 13.2% during the fourth quarter. FDx Advisors Inc. now owns 39,633 shares of the medical instruments supplier’s stock valued at $2,562,000 after acquiring an additional 4,636 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Baxter International during the fourth quarter valued at approximately $1,815,000. Finally, 180 Wealth Advisors LLC bought a new position in shares of Baxter International during the fourth quarter valued at approximately $480,000. Institutional investors own 83.53% of the company’s stock.
About Baxter International
Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.
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