Stock Traders Purchase Large Volume of Call Options on Baxter International (NYSE:BAX)

Baxter International Inc. (NYSE:BAX - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 20,523 call options on the company. This represents an increase of approximately 505% compared to the average daily volume of 3,392 call options.

Hedge Funds Weigh In On Baxter International

A number of hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. increased its stake in Baxter International by 1.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,666 shares of the medical instruments supplier's stock valued at $33,845,000 after buying an additional 21,592 shares during the period. Van ECK Associates Corp boosted its holdings in Baxter International by 10.2% in the 4th quarter. Van ECK Associates Corp now owns 68,198 shares of the medical instruments supplier's stock valued at $1,989,000 after purchasing an additional 6,320 shares during the period. Rhumbline Advisers raised its stake in shares of Baxter International by 1.2% in the 4th quarter. Rhumbline Advisers now owns 1,113,125 shares of the medical instruments supplier's stock valued at $32,459,000 after buying an additional 13,424 shares in the last quarter. Nicholas Hoffman & Company LLC. acquired a new position in shares of Baxter International in the 4th quarter valued at $907,000. Finally, New York State Common Retirement Fund increased its position in shares of Baxter International by 7.9% during the 4th quarter. New York State Common Retirement Fund now owns 476,248 shares of the medical instruments supplier's stock worth $13,887,000 after purchasing an additional 34,748 shares in the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Baxter International Stock Down 1.0%

Shares of BAX traded down $0.33 during midday trading on Wednesday, hitting $31.39. The company had a trading volume of 4,152,651 shares, compared to its average volume of 4,427,927. Baxter International has a 52 week low of $26.25 and a 52 week high of $40.49. The company's 50 day moving average price is $30.11 and its 200 day moving average price is $31.39. The company has a quick ratio of 1.09, a current ratio of 1.43 and a debt-to-equity ratio of 1.31. The stock has a market cap of $16.11 billion, a price-to-earnings ratio of -24.52, a PEG ratio of 0.93 and a beta of 0.61.

Baxter International (NYSE:BAX - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.14. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. Baxter International's revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. On average, equities research analysts predict that Baxter International will post 2.48 EPS for the current year.

Baxter International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 30th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Friday, May 30th. Baxter International's dividend payout ratio is currently -61.82%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Argus upgraded shares of Baxter International from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. Wells Fargo & Company lowered their price target on shares of Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a report on Friday, May 2nd. JPMorgan Chase & Co. decreased their target price on shares of Baxter International from $38.00 to $36.00 and set a "neutral" rating on the stock in a research report on Friday, February 21st. Barclays lifted their price target on shares of Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Monday, March 10th. Finally, The Goldman Sachs Group started coverage on shares of Baxter International in a research note on Wednesday, February 26th. They set a "buy" rating and a $42.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $37.25.

About Baxter International

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.