Baxter International Inc. (NYSE:BAX) Shareholders to Receive $0.01 Quarterly Dividend

Key Points

• Baxter International declared a quarterly dividend of $0.01 per share, payable January 4 to shareholders of record November 27. The annualized dividend is $0.04, yielding approximately 0.2%.
• The dividend appears well covered, with a current payout ratio of 1.5% and an expected future payout ratio of about 2.0%, although the company has reduced its dividend slightly on average over the past three years.
• Baxter’s latest quarterly results exceeded expectations, with adjusted EPS of $0.58 versus the $0.52 consensus and revenue of $2.98 billion, up 5% year over year.

Baxter International Inc. (NYSE:BAX - Get Free Report) announced a quarterly dividend on Wednesday, October 28th. Stockholders of record on Friday, November 27th will be given a dividend of $0.01 per share by the medical instruments supplier on Monday, January 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, November 27th.

Baxter International has decreased its dividend by an average of 0.1% per year over the last three years. Baxter International has a payout ratio of 1.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Baxter International to earn $2.00 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 2.0%.

Baxter International Stock Down 7.8%

NYSE BAX opened at $23.48 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 1.39. The business's fifty day simple moving average is $24.65 and its 200-day simple moving average is $21.35. The firm has a market cap of $12.14 billion, a PE ratio of -11.34, a P/E/G ratio of 3.85 and a beta of 0.65. Baxter International has a 52 week low of $15.73 and a 52 week high of $30.00.

Baxter International (NYSE:BAX - Get Free Report) last released its earnings results on Thursday, October 29th. The medical instruments supplier reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.06. Baxter International had a positive return on equity of 16.57% and a negative net margin of 9.27%. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter last year, the business posted $0.69 EPS. Baxter International's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts anticipate that Baxter International will post 2.04 earnings per share for the current year.

Hedge Funds Weigh In On Baxter International

Several institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp purchased a new position in shares of Baxter International during the 2nd quarter worth about $26,000. CYBER HORNET ETFs LLC lifted its stake in Baxter International by 52.4% in the second quarter. CYBER HORNET ETFs LLC now owns 2,153 shares of the medical instruments supplier's stock worth $46,000 after purchasing an additional 740 shares during the last quarter. Community Bank N.A. purchased a new position in shares of Baxter International during the second quarter valued at approximately $46,000. Versant Capital Management Inc boosted its position in shares of Baxter International by 552.2% during the second quarter. Versant Capital Management Inc now owns 2,413 shares of the medical instruments supplier's stock valued at $51,000 after buying an additional 2,043 shares during the period. Finally, EFG International AG bought a new position in shares of Baxter International during the second quarter valued at approximately $67,000. Institutional investors own 90.19% of the company's stock.

Baxter International Company Profile

Baxter International Inc is a global medical products and healthcare technology company headquartered in Deerfield, Illinois. The company develops, manufactures and distributes products used in hospitals, clinics, ambulatory care centers and other healthcare settings.

Baxter's portfolio has included intravenous therapies and administration systems, infusion pumps, connected-care technologies, surgical products, patient monitoring equipment and products used in medication preparation and delivery.

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