Baxter International Inc. (BAX) To Go Ex-Dividend on February 29th

Baxter International Inc. (NYSE:BAXGet Free Report) announced a quarterly dividend on Monday, February 12th, RTT News reports. Investors of record on Friday, March 1st will be given a dividend of 0.29 per share by the medical instruments supplier on Monday, April 1st. This represents a $1.16 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, February 29th.

Baxter International has raised its dividend payment by an average of 6.7% annually over the last three years. Baxter International has a payout ratio of 36.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Baxter International to earn $3.23 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 35.9%.

Baxter International Stock Performance

Shares of BAX stock opened at $42.00 on Tuesday. The company’s fifty day moving average price is $39.53 and its 200-day moving average price is $37.83. The stock has a market cap of $21.33 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 4.30 and a beta of 0.61. The company has a current ratio of 1.48, a quick ratio of 1.04 and a debt-to-equity ratio of 1.31. Baxter International has a 12 month low of $31.01 and a 12 month high of $50.21.

Baxter International (NYSE:BAXGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The medical instruments supplier reported $0.88 EPS for the quarter, topping the consensus estimate of $0.86 by $0.02. Baxter International had a net margin of 17.77% and a return on equity of 19.49%. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. Baxter International’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts expect that Baxter International will post 2.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Laurel Wealth Advisors Inc. lifted its position in shares of Baxter International by 12.9% in the fourth quarter. Laurel Wealth Advisors Inc. now owns 8,391 shares of the medical instruments supplier’s stock valued at $428,000 after acquiring an additional 959 shares in the last quarter. KB Financial Partners LLC raised its stake in Baxter International by 6.2% during the 1st quarter. KB Financial Partners LLC now owns 4,815 shares of the medical instruments supplier’s stock valued at $373,000 after purchasing an additional 279 shares during the period. Eudaimonia Partners LLC purchased a new position in Baxter International in the 1st quarter worth approximately $340,000. Horizon Investments LLC boosted its stake in Baxter International by 10.0% in the 2nd quarter. Horizon Investments LLC now owns 6,955 shares of the medical instruments supplier’s stock worth $317,000 after purchasing an additional 633 shares during the period. Finally, Empire Financial Management Company LLC purchased a new stake in Baxter International during the 4th quarter valued at approximately $286,000. Institutional investors own 85.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. StockNews.com upgraded Baxter International from a “hold” rating to a “buy” rating in a research note on Friday, January 19th. UBS Group cut their price objective on shares of Baxter International from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Barclays lifted their target price on shares of Baxter International from $52.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. JPMorgan Chase & Co. raised their price target on shares of Baxter International from $38.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Morgan Stanley reduced their target price on Baxter International from $45.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, December 4th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.30.

Get Our Latest Analysis on BAX

Baxter International Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Baxter International (NYSE:BAX)

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