Insider Selling: Baxter International Inc (NYSE:BAX) Director Sells 1,320 Shares of Stock

Baxter International Inc (NYSE:BAX) Director John D. Forsyth sold 1,320 shares of Baxter International stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $78.21, for a total transaction of $103,237.20. Following the completion of the sale, the director now directly owns 32,779 shares in the company, valued at approximately $2,563,645.59. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of BAX stock opened at $77.93 on Friday. Baxter International Inc has a fifty-two week low of $61.05 and a fifty-two week high of $82.25. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.30 and a current ratio of 1.83. The firm has a market capitalization of $39.76 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 1.84 and a beta of 0.94.

Baxter International (NYSE:BAX) last posted its quarterly earnings results on Thursday, April 25th. The medical instruments supplier reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. Baxter International had a return on equity of 20.04% and a net margin of 14.27%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Sell-side analysts expect that Baxter International Inc will post 3.32 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, June 6th. This is a positive change from Baxter International’s previous quarterly dividend of $0.19. Baxter International’s payout ratio is currently 28.85%.

A number of equities research analysts recently issued reports on BAX shares. Morgan Stanley lifted their price target on shares of Baxter International from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Zacks Investment Research upgraded Baxter International from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Tuesday, March 19th. Wells Fargo & Co raised their price objective on Baxter International from $80.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Barclays raised their price objective on Baxter International from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Cowen set a $75.00 price objective on Baxter International and gave the company a “hold” rating in a report on Monday, April 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Baxter International currently has an average rating of “Buy” and an average target price of $78.33.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Horrell Capital Management Inc. increased its position in shares of Baxter International by 0.4% during the 1st quarter. Horrell Capital Management Inc. now owns 31,167 shares of the medical instruments supplier’s stock worth $2,534,000 after purchasing an additional 138 shares during the last quarter. Berman Capital Advisors LLC increased its position in shares of Baxter International by 8.5% during the 1st quarter. Berman Capital Advisors LLC now owns 1,793 shares of the medical instruments supplier’s stock worth $145,000 after purchasing an additional 141 shares during the last quarter. Brookmont Capital Management increased its position in shares of Baxter International by 3.7% during the 4th quarter. Brookmont Capital Management now owns 4,048 shares of the medical instruments supplier’s stock worth $266,000 after purchasing an additional 146 shares during the last quarter. Parsons Capital Management Inc. RI increased its position in shares of Baxter International by 0.4% during the 1st quarter. Parsons Capital Management Inc. RI now owns 33,782 shares of the medical instruments supplier’s stock worth $2,747,000 after purchasing an additional 146 shares during the last quarter. Finally, Citizens Financial Group Inc RI increased its position in shares of Baxter International by 6.4% during the 1st quarter. Citizens Financial Group Inc RI now owns 2,437 shares of the medical instruments supplier’s stock worth $198,000 after purchasing an additional 146 shares during the last quarter. Institutional investors and hedge funds own 84.03% of the company’s stock.

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Baxter International Company Profile

Baxter International Inc, through its subsidiaries, develops and provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. The company offers peritoneal dialysis and hemodialysis, and additional dialysis therapies and services; renal replacement therapies and other organ support therapies focused in the intensive care unit; sterile intravenous (IV) solutions, IV therapies, infusion pumps, administration sets, and drug reconstitution devices; and parenteral nutrition therapies.

Further Reading: Derivative

Insider Buying and Selling by Quarter for Baxter International (NYSE:BAX)

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