Baxter International Inc. (BAX) To Go Ex-Dividend on May 30th

Baxter International Inc. (NYSE:BAX) announced a quarterly dividend on Tuesday, May 6th, RTT News reports. Stockholders of record on Friday, May 30th will be paid a dividend of 0.17 per share by the medical instruments supplier on Tuesday, July 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, May 30th.

Baxter International has decreased its dividend by an average of 1.4% per year over the last three years. Baxter International has a dividend payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Baxter International to earn $2.73 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 24.9%.

Baxter International Stock Performance

Baxter International stock opened at $30.88 on Wednesday. The business has a 50 day moving average of $30.65 and a 200-day moving average of $31.56. The company has a market capitalization of $15.85 billion, a P/E ratio of -24.13, a P/E/G ratio of 0.93 and a beta of 0.63. Baxter International has a 1 year low of $26.25 and a 1 year high of $40.49. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.43 and a quick ratio of 1.09.

Baxter International (NYSE:BAX) last posted its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.59 billion. Baxter International had a negative net margin of 5.05% and a positive return on equity of 16.67%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. On average, equities research analysts predict that Baxter International will post 2.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Argus raised Baxter International from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. The Goldman Sachs Group began coverage on Baxter International in a research report on Wednesday, February 26th. They set a “buy” rating and a $42.00 price objective for the company. Morgan Stanley cut their price objective on Baxter International from $30.00 to $28.00 and set an “underweight” rating on the stock in a research note on Monday, May 5th. Barclays increased their target price on shares of Baxter International from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Baxter International from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Baxter International currently has an average rating of “Hold” and a consensus target price of $37.25.

Baxter International Company Profile

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.