Baxter International Inc. (NYSE:BAX) Plans $0.17 Quarterly Dividend

Baxter International Inc. (NYSE:BAX) announced a quarterly dividend on Tuesday, May 6th, RTT News reports. Stockholders of record on Friday, May 30th will be paid a dividend of 0.17 per share by the medical instruments supplier on Tuesday, July 1st. This represents a $0.68 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Friday, May 30th.

Baxter International has decreased its dividend by an average of 1.4% per year over the last three years. Baxter International has a dividend payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Baxter International to earn $2.73 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 24.9%.

Baxter International Stock Performance

Shares of Baxter International stock opened at $30.88 on Wednesday. The business has a 50-day simple moving average of $30.65 and a 200 day simple moving average of $31.56. Baxter International has a one year low of $26.25 and a one year high of $40.49. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09. The firm has a market capitalization of $15.85 billion, a price-to-earnings ratio of -24.13, a PEG ratio of 0.93 and a beta of 0.63.

Baxter International (NYSE:BAX) last released its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.62 EPS for the quarter, beating 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 the consensus estimate of $2.59 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, research analysts anticipate that Baxter International will post 2.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on BAX. Barclays upped their price objective on shares of Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, March 10th. Wells Fargo & Company lowered their target price on shares of Baxter International from $36.00 to $33.00 and set an “equal weight” rating on the stock in a report on Friday, May 2nd. Argus raised shares of Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. cut their price target 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. Finally, Morgan Stanley lowered their price objective on Baxter International from $30.00 to $28.00 and set an “underweight” rating for the company in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average 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.