Baxter International Sees Unusually High Options Volume (NYSE:BAX)

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

Analysts Set New Price Targets

BAX has been the subject of a number of research analyst reports. Argus upgraded Baxter International from a "hold" rating to a "buy" rating in a research note on Monday, February 24th. JPMorgan Chase & Co. lowered their target price on Baxter International from $38.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. The Goldman Sachs Group initiated coverage on Baxter International in a research note on Wednesday, February 26th. They issued a "buy" rating and a $42.00 target price for the company. Wells Fargo & Company lowered their target price on Baxter International from $36.00 to $33.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. Finally, Barclays raised their target price on Baxter International from $39.00 to $41.00 and gave the company an "overweight" rating in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $37.25.

Institutional Investors Weigh In On Baxter International

Several hedge funds and other institutional investors have recently made changes to their positions in BAX. CoreFirst Bank & Trust acquired a new position in Baxter International during the fourth quarter worth approximately $26,000. Zions Bancorporation National Association UT purchased a new stake in shares of Baxter International in the first quarter valued at approximately $27,000. Riverview Trust Co boosted its stake in shares of Baxter International by 5,488.2% in the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier's stock valued at $28,000 after buying an additional 933 shares in the last quarter. Rossby Financial LCC purchased a new stake in Baxter International during the first quarter worth $29,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Baxter International by 48.1% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier's stock worth $69,000 after purchasing an additional 656 shares in the last quarter. Institutional investors and hedge funds own 90.19% of the company's stock.

Baxter International Stock Down 2.4%

NYSE:BAX traded down $0.76 during trading hours on Friday, reaching $30.60. 2,890,177 shares of the company traded hands, compared to its average volume of 4,410,600. The business's 50-day moving average price is $30.21 and its two-hundred day moving average price is $31.36. The stock has a market capitalization of $15.70 billion, a P/E ratio of -23.91, a P/E/G ratio of 0.93 and a beta of 0.61. Baxter International has a 1 year low of $26.25 and a 1 year high of $40.49. The company has a current ratio of 1.43, a quick ratio of 1.09 and a debt-to-equity ratio of 1.31.

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

Baxter International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 30th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Friday, May 30th. Baxter International's dividend payout ratio (DPR) is presently -61.82%.

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.