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 equities tracked, Baxter International had the 0th highest net out-flow for the day. Baxter International traded up $0.39 for the day and closed at $71.50

A number of research firms have recently weighed in on BAX. Barclays raised Baxter International from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $67.00 to $72.00 in a research note on Friday, February 1st. Piper Jaffray Companies reissued an “overweight” rating and issued a $80.00 price target on shares of Baxter International in a research note on Friday, February 1st. Zacks Investment Research downgraded Baxter International from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Wells Fargo & Co increased their price target on Baxter International from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, December 4th. Finally, UBS Group began coverage on Baxter International in a research note on Tuesday, November 27th. They issued a “buy” rating and a $80.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. Baxter International has an average rating of “Buy” and a consensus price target of $76.41.

The company has a market capitalization of $38.05 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. The company has a quick ratio of 1.96, a current ratio of 2.60 and a debt-to-equity ratio of 0.38.

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

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

In other Baxter International news, Director Carole J. Shapazian sold 11,749 shares of Baxter International stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $68.48, for a total value of $804,571.52. Following the sale, the director now owns 15,237 shares of the company’s stock, valued at approximately $1,043,429.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John D. Forsyth sold 1,500 shares of Baxter International stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $67.02, for a total value of $100,530.00. Following the completion of the sale, the director now directly owns 31,640 shares in the company, valued at approximately $2,120,512.80. The disclosure for this sale can be found here. Insiders have sold a total of 8,055,348 shares of company stock worth $552,892,722 in the last ninety days. 0.07% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Baxter International by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 36,398,931 shares of the medical instruments supplier’s stock valued at $2,805,993,000 after purchasing an additional 470,198 shares during the period. Vanguard Group Inc raised its stake in shares of Baxter International by 1.3% in the 3rd quarter. Vanguard Group Inc now owns 36,398,931 shares of the medical instruments supplier’s stock valued at $2,805,993,000 after purchasing an additional 470,198 shares during the period. FMR LLC raised its stake in shares of Baxter International by 2.5% in the 3rd quarter. FMR LLC now owns 29,356,040 shares of the medical instruments supplier’s stock valued at $2,263,057,000 after purchasing an additional 719,013 shares during the period. Morgan Stanley raised its stake in shares of Baxter International by 267.9% in the 3rd quarter. Morgan Stanley now owns 10,570,520 shares of the medical instruments supplier’s stock valued at $814,880,000 after purchasing an additional 7,697,267 shares during the period. Finally, Standard Life Aberdeen plc raised its stake in shares of Baxter International by 121.2% in the 3rd quarter. Standard Life Aberdeen plc now owns 5,743,738 shares of the medical instruments supplier’s stock valued at $442,813,000 after purchasing an additional 3,146,868 shares during the period. 83.42% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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