Baxter International (NYSE:BAX) Sees Large Volume Increase - Time to Buy?

Key Points

• Baxter International's shares saw a trading volume of 4,297,915, marking a 12% decrease from the previous session's volume, with the stock currently priced at $21.47.
• Equities analysts have mixed ratings for Baxter, with a consensus rating of "Hold" and varied price targets ranging from $24.00 to $33.13.
• A quarterly dividend of $0.17, representing a 3.1% yield, will be paid to stockholders on October 1st, with a payout ratio of -61.82%.

Shares of Baxter International Inc. (NYSE:BAX - Get Free Report) saw an uptick in trading volume on Friday . 4,297,915 shares traded hands during mid-day trading, a decline of 12% from the previous session's volume of 4,884,268 shares.The stock last traded at $21.47 and had previously closed at $21.76.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Baxter International from $28.00 to $27.00 and set an "underweight" rating for the company in a research note on Tuesday, July 15th. Wells Fargo & Company dropped their price objective on shares of Baxter International from $33.00 to $24.00 and set an "equal weight" rating for the company in a research note on Friday. The Goldman Sachs Group reissued a "neutral" rating and issued a $25.00 price objective on shares of Baxter International in a research note on Friday. Wall Street Zen raised shares of Baxter International from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Finally, Citigroup dropped their price target on shares of Baxter International from $34.00 to $32.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $33.13.

Baxter International Stock Performance

The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.40 and a current ratio of 2.02. The stock has a market cap of $11.34 billion, a P/E ratio of -20.08, a price-to-earnings-growth ratio of 0.82 and a beta of 0.61. The firm's 50 day moving average is $29.69 and its 200 day moving average is $31.08.

Baxter International (NYSE:BAX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The medical instruments supplier reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). Baxter International had a negative net margin of 4.71% and a positive return on equity of 17.24%. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same quarter in the previous year, the company posted $0.68 EPS. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts anticipate that Baxter International Inc. will post 2.48 EPS for the current year.

Baxter International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, August 29th will be paid a $0.17 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.1%. Baxter International's dividend payout ratio is presently -61.82%.

Institutional Trading of Baxter International

Hedge funds have recently added to or reduced their stakes in the company. Dodge & Cox lifted its holdings in Baxter International by 13.0% during the fourth quarter. Dodge & Cox now owns 50,377,294 shares of the medical instruments supplier's stock valued at $1,469,002,000 after purchasing an additional 5,779,100 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Baxter International by 40.4% during the fourth quarter. Russell Investments Group Ltd. now owns 1,745,709 shares of the medical instruments supplier's stock valued at $50,904,000 after purchasing an additional 502,370 shares in the last quarter. ARGA Investment Management LP lifted its holdings in Baxter International by 52.5% during the first quarter. ARGA Investment Management LP now owns 1,327,946 shares of the medical instruments supplier's stock valued at $45,456,000 after purchasing an additional 457,345 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Baxter International by 11,821.6% during the first quarter. GAMMA Investing LLC now owns 387,689 shares of the medical instruments supplier's stock valued at $13,271,000 after purchasing an additional 384,437 shares in the last quarter. Finally, Parkwood LLC purchased a new position in Baxter International during the fourth quarter valued at $10,747,000. 90.19% of the stock is owned by hedge funds and other institutional investors.

Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care. The company offers sterile intravenous (IV) solutions; infusion systems and devices; parenteral nutrition therapies; generic injectable pharmaceuticals; surgical hemostat and sealant products, advanced surgical equipment; smart bed systems; patient monitoring and diagnostic technologies; and respiratory health devices, as well as advanced equipment for the surgical space, including surgical video technologies, precision positioning devices, and other accessories.

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