Baxter International Target of Unusually Large Options Trading (NYSE:BAX)

Baxter International Inc. (NYSE:BAX) saw some unusual options trading activity on Tuesday. Stock traders purchased 20,523 call options on the company. This represents an increase of 505% compared to the typical daily volume of 3,392 call options.

Institutional Investors Weigh In On Baxter International

Institutional investors and hedge funds have recently modified their holdings of the business. CoreFirst Bank & Trust bought a new stake in Baxter International in the fourth quarter valued at $26,000. Zions Bancorporation National Association UT acquired a new position in Baxter International in the first quarter valued at about $27,000. Riverview Trust Co boosted its holdings in Baxter International by 5,488.2% during the fourth quarter. Riverview Trust Co now owns 950 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 933 shares during the last quarter. Rossby Financial LCC acquired a new position in shares of Baxter International during the 1st quarter worth about $29,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Baxter International by 48.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 2,021 shares of the medical instruments supplier’s stock worth $69,000 after buying an additional 656 shares during the period. Institutional investors and hedge funds own 90.19% of the company’s stock.

Baxter International Stock Up 2.3%

BAX stock traded up $0.70 during midday trading on Tuesday, reaching $31.55. The company had a trading volume of 1,975,990 shares, compared to its average volume of 4,418,033. The company has a 50 day moving average of $30.05 and a two-hundred day moving average of $31.39. 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 has a 1 year low of $26.25 and a 1 year high of $40.49. The company has a market capitalization of $16.19 billion, a P/E ratio of -24.65, a PEG ratio of 0.93 and a beta of 0.61.

Baxter International (NYSE:BAX) last announced its quarterly earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share (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 business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.59 billion. During the same period in the previous year, the company earned $0.65 EPS. The firm’s revenue was up 5.4% on a year-over-year basis. On average, equities research analysts expect that Baxter International will post 2.48 earnings per share for the current fiscal year.

Baxter International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, May 30th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, May 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.16%. Baxter International’s dividend payout ratio is currently -61.82%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BAX shares. JPMorgan Chase & Co. reduced their target price on 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 boosted their price target on Baxter International from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. Argus upgraded Baxter International from a “hold” rating to a “buy” rating in a research note on Monday, February 24th. The Goldman Sachs Group assumed coverage on Baxter International in a report on Wednesday, February 26th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Wells Fargo & Company decreased their target price on shares of Baxter International from $36.00 to $33.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. One 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 data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.