Baxter International (NYSE:BAX) Sees Strong Trading Volume - Here's What Happened

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 unusually-high trading volume on Friday . Approximately 4,297,915 shares traded hands during 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

BAX has been the topic of several analyst reports. Wall Street Zen downgraded Baxter International from a "buy" rating to a "hold" rating in a research report on Saturday. The Goldman Sachs Group downgraded Baxter International from a "buy" rating to a "neutral" rating and set a $25.00 price target on the stock. in a research report on Friday. UBS Group decreased their target price on Baxter International from $35.00 to $24.00 and set a "neutral" rating on the stock in a research report on Monday. Morgan Stanley dropped their price objective on Baxter International from $28.00 to $27.00 and set an "underweight" rating for the company in a research note on Tuesday, July 15th. Finally, Citigroup decreased their price target on Baxter International from $34.00 to $32.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $30.11.

Baxter International Trading Up 2.9%

The company has a current ratio of 2.02, a quick ratio of 1.40 and a debt-to-equity ratio of 1.33. The company has a market cap of $11.85 billion, a price-to-earnings ratio of -77.00, a PEG ratio of 0.71 and a beta of 0.59. The business's 50 day moving average price is $29.37 and its 200-day moving average price is $30.97.

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). The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.82 billion. Baxter International had a positive return on equity of 16.93% and a negative net margin of 1.42%. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. On average, equities analysts anticipate that Baxter International Inc. will post 2.48 EPS for the current fiscal year.

Baxter International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, August 29th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 29th. Baxter International's dividend payout ratio (DPR) is currently -226.67%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BAX. Dodge & Cox boosted its holdings in shares of Baxter International by 2.1% during the 1st quarter. Dodge & Cox now owns 51,458,925 shares of the medical instruments supplier's stock valued at $1,761,439,000 after acquiring an additional 1,081,631 shares during the last quarter. Ameriprise Financial Inc. increased its position in Baxter International by 1.1% in the first quarter. Ameriprise Financial Inc. now owns 7,540,942 shares of the medical instruments supplier's stock worth $258,140,000 after purchasing an additional 83,973 shares during the last quarter. Sound Shore Management Inc. CT increased its position in Baxter International by 13.7% in the first quarter. Sound Shore Management Inc. CT now owns 2,825,902 shares of the medical instruments supplier's stock worth $96,731,000 after purchasing an additional 341,321 shares during the last quarter. Cooke & Bieler LP increased its position in Baxter International by 10.8% in the second quarter. Cooke & Bieler LP now owns 1,750,510 shares of the medical instruments supplier's stock worth $53,005,000 after purchasing an additional 170,560 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Baxter International by 40.4% in the fourth quarter. Russell Investments Group Ltd. now owns 1,745,709 shares of the medical instruments supplier's stock worth $50,904,000 after purchasing an additional 502,370 shares during the last quarter. 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.