Traders Sell Shares of Baxter International (BAX) on Strength (BAX)

Traders sold shares of Baxter International Inc (NYSE:BAX) on strength during trading hours on Friday. $24.02 million flowed into the stock on the tick-up and $76.74 million flowed out of the stock on the tick-down, for a money net flow of $52.72 million out of the stock. Of all companies tracked, Baxter International had the 27th highest net out-flow for the day. Baxter International traded up $0.39 for the day and closed at $71.50

Several equities research analysts have recently issued reports on BAX shares. Morgan Stanley raised their price objective on Baxter International from $68.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 11th. Barclays started coverage on Baxter International in a report on Monday, October 15th. They set an “underweight” rating and a $73.00 price objective on the stock. ValuEngine cut Baxter International from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Wells Fargo & Co decreased their price objective on Baxter International from $82.00 to $72.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Finally, Raymond James decreased their price objective on Baxter International from $80.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. Baxter International currently has an average rating of “Buy” and a consensus price target of $76.41.

Get Baxter International alerts:

The company has a quick ratio of 1.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $37.84 billion, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 1.80 and a beta of 0.99.

Baxter International (NYSE:BAX) last issued its earnings results on Thursday, January 31st. The medical instruments supplier reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.80 billion. Baxter International had a return on equity of 18.46% and a net margin of 14.60%. Analysts predict that Baxter International Inc will post 3.27 EPS for the current year.

Baxter International declared that its Board of Directors has authorized a stock repurchase program on Tuesday, November 13th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the medical instruments supplier to purchase up to 6.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

In related news, Director Thomas T. Stallkamp sold 1,638 shares of the stock in a transaction on Friday, February 1st. The stock was sold at an average price of $73.75, for a total value of $120,802.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John D. Forsyth sold 1,500 shares of the stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $67.02, for a total value of $100,530.00. Following the completion of the transaction, the director now directly owns 31,640 shares in the company, valued at $2,120,512.80. The disclosure for this sale can be found here. Insiders sold a total of 8,055,348 shares of company stock worth $552,892,722 over the last ninety days. Corporate insiders own 0.07% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sullivan Bruyette Speros & Blaney LLC raised its position in Baxter International by 3.6% in the fourth quarter. Sullivan Bruyette Speros & Blaney LLC now owns 4,322 shares of the medical instruments supplier’s stock valued at $284,000 after purchasing an additional 150 shares during the period. Private Capital Group LLC raised its position in Baxter International by 11.4% in the fourth quarter. Private Capital Group LLC now owns 1,504 shares of the medical instruments supplier’s stock valued at $99,000 after purchasing an additional 154 shares during the period. Trust Co. of Toledo NA OH raised its position in Baxter International by 0.4% in the fourth quarter. Trust Co. of Toledo NA OH now owns 38,188 shares of the medical instruments supplier’s stock valued at $2,514,000 after purchasing an additional 158 shares during the period. First Hawaiian Bank raised its position in Baxter International by 0.9% in the fourth quarter. First Hawaiian Bank now owns 21,438 shares of the medical instruments supplier’s stock valued at $1,411,000 after purchasing an additional 182 shares during the period. Finally, Cozad Asset Management Inc. raised its position in Baxter International by 6.2% in the fourth quarter. Cozad Asset Management Inc. now owns 3,423 shares of the medical instruments supplier’s stock valued at $225,000 after purchasing an additional 200 shares during the period. 83.42% of the stock is currently owned by institutional investors and hedge funds.

TRADEMARK VIOLATION NOTICE: This report was published by Ticker Report and is the sole property of of Ticker Report. If you are viewing this report on another publication, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this report can be read at https://www.tickerreport.com/banking-finance/4137473/traders-sell-shares-of-baxter-international-bax-on-strength-bax.html.

Baxter International Company Profile (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.

See Also: Float