Traders Buy Baxter International (BAX) on Weakness

Traders bought shares of Baxter International Inc (NYSE:BAX) on weakness during trading hours on Thursday. $81.94 million flowed into the stock on the tick-up and $43.24 million flowed out of the stock on the tick-down, for a money net flow of $38.70 million into the stock. Of all stocks tracked, Baxter International had the 27th highest net in-flow for the day. Baxter International traded down ($1.97) for the day and closed at $70.47

Several brokerages have issued reports on BAX. Barclays began coverage on Baxter International in a research note on Monday. They issued an “underweight” rating and a $73.00 target price for the company. Morgan Stanley upped their target price on Baxter International from $68.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 11th. Zacks Investment Research raised Baxter International from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Tuesday, September 25th. Argus reaffirmed a “hold” rating on shares of Baxter International in a research note on Tuesday, September 4th. Finally, Citigroup upped their target price on Baxter International from $74.00 to $76.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company’s stock. Baxter International has a consensus rating of “Hold” and a consensus price target of $77.77.

The company has a market capitalization of $41.19 billion, a PE ratio of 29.02, a P/E/G ratio of 2.08 and a beta of 0.77. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 0.39.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, July 26th. The medical instruments supplier reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.06. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.83 billion. Baxter International had a return on equity of 16.63% and a net margin of 8.29%. Baxter International’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Analysts predict that Baxter International Inc will post 2.98 earnings per share for the current fiscal year.

In other Baxter International news, Director Carole J. Shapazian sold 5,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $72.97, for a total value of $394,038.00. Following the completion of the sale, the director now owns 15,248 shares in the company, valued at $1,112,646.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Giuseppe Accogli sold 17,647 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $77.27, for a total value of $1,363,583.69. Following the completion of the sale, the senior vice president now owns 59,452 shares of the company’s stock, valued at approximately $4,593,856.04. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Bridgeworth LLC bought a new stake in Baxter International in the second quarter valued at approximately $102,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Baxter International by 3,088.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,435 shares of the medical instruments supplier’s stock valued at $106,000 after purchasing an additional 1,390 shares during the last quarter. Baker Ellis Asset Management LLC bought a new stake in Baxter International in the second quarter valued at approximately $111,000. Centaurus Financial Inc. bought a new stake in Baxter International in the second quarter valued at approximately $117,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Baxter International by 84.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,748 shares of the medical instruments supplier’s stock valued at $126,000 after purchasing an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 83.08% of the company’s stock.

About Baxter International (NYSE:BAX)

Baxter International Inc provides a portfolio of healthcare products. The company operates through North and South America; Europe, Middle East and Africa; and Asia-Pacific segments. It 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.

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